August 19, 2014
This morning, the Reston, Virginia-based telemedicine company Avizia announced that they have closed a round of equity financing. The round was led by NextGen Angels and included participation from Blue Venture Investors and Middleland Capital. The company did not disclose the amount of money raised.
As part of this round, the company will bring on Edward Kennedy, CEO and president of Tollgrade Communications, to its board of directors. According to the company, this recent financing will be used to support their rapid growth in the telemedicine industry.
“This new financial backing will help us accelerate Avizia’s mission to revolutionize healthcare delivery with advanced connected care solutions,” said Avizia CEO Mike Baird. “As healthcare providers seek to expand the quality and accessibility of patient care, we believe that telemedicine will become mission-critical for delivering on those objectives.”
Avizia offers products that provide healthcare providers with new telemedicine solutions that allow them to reach patients regardless of location, removing the need for constant face-to-face interaction and increasing patient access to medical care. The company offers a variety of products – from medical devices (like digital stethoscopes) and workflow management software to various professional services.
“NextGen Angels takes an exceptionally entrepreneur-friendly approach precisely so we have the opportunity to work with superb teams such as Avizia’s,” said Brett Gibson, managing director of NextGen Angels. “Avizia is positioned at the forefront of a new and rapidly growing industry with an uncommonly compelling technology.”
The company currently has more than 200 customers in over 20 countries around the world. On top of this funding, Avizia has recently established a commercial banking relationship with Silicon Valley Bank.
Editor’s note: Tech Cocktail CEO Frank Gruber and COO Jen Consalvo are both members of NextGen Angels.
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