DocSpera lands $10 million investment from Pier 70
SUNNYVALE, CALIF. —DocSpera, a leading integrated healthcare surgical data and image communication company, announced a $10 million Series B financing round led by Pier 70 Ventures and JJDC, Inc., with participation of other key strategic investors.
DocSpera’s surgical coordination platform addresses the challenges associated with the manual communication and care workflow between surgeons, health systems, and medical device suppliers by automating care coordination and streamlining information to efficiently deploy the $90.5 billion surgical implantable supply market, accelerating the adoption of value-based care and supporting the future growth of surgical volumes.
“We are privileged to work with many of the leading surgical practices, health systems and medical device enterprises to drive operational efficiencies within the complex surgical and implant workflow, using our real-time and automated surgical workflow platform,” said Samuel Ethiopia, DocSpera’s CEO. “Our experiences, recent market dynamics in the overall healthcare system, and constrained supply chains, reinforce the company’s value proposition across providers, suppliers, and ultimately patients.”
Coming off a strong 2021 growth year, the funds from this round will be used to accelerate commercialization of the existing suite of products (SmartSyncTM and Intelligent SchedulerTM for Hospitals and ASCs, and SmartEnterpriseTM for Medtech and Life Science partners) as well as to invest in scaling the engineering, customer success and commercial teams to support their continued expansion.
“Pier 70 Ventures is excited to partner with DocSpera to help the company actualize its growth prospects. DocSpera provides unique and scalable technology solutions to efficiently address care collaboration and coordination challenges between healthcare providers and medical technology companies,” said Shaun Hawkins, Managing Partner at Pier 70 Ventures. “We were impressed with DocSpera’s vision and innovative technology. We have full confidence in the DocSpera team, the advisory board, and the company’s commercial plan.”
DocSpera is currently integrated into 300+ health systems, provider practices and ASCs to deliver real-time surgical coordination between surgeons, care team and medical device companies. In addition, DocSpera’s technology solutions are interoperable with over 30+ electronic medical records systems (“EMRs”), picture archiving communication systems (“PACS”) and other key healthcare IT systems to seamlessly deliver automated and intelligent surgical workflow management solutions.
“DocSpera has been continuously expanding its products’ functionality, customizability, and application over time. We have been using DocSpera to automate our coordination and communication reach outside the walls of each institution we serve; something our EHR cannot do” said Dr. Peter Callander, Medical Director of the Novato-Sutter Health Joint Replacement Center.
Dr. Alex Sah, Co-Medical Director of the Institute for Joint Restoration and Research said, “As a busy surgeon, DocSpera’s capabilities improve my team’s ability to provide better and timely patient care to more patients. This advanced platform is a logical step forward for thriving surgical practices and hospital systems of the future.”
DocSpera is a fast-growing healthcare technology company helping drive better revenue and efficiency for surgeons, health systems and medical device companies through seamless, real-time, and AI data-driven coordination starting at the surgical decision through to patient recovery..
DocSpera is interoperable and partners with over 30 EMRs and critical systems. Its platform enables automated data aggregation and communication for specific use cases. The platform and solutions are Service Organization Control (SOC) 2 Type II certified.
About Pier 70 Ventures
Pier 70 Ventures is a US-based venture capital firm investing in impact-driven innovation. The firm’s debut fund is the Pier 70 INpact Fund. Looking for brilliance beyond the usual places, Pier 70 Ventures finds and funds technologies with the potential to disrupt the future of healthcare. We invest in talented entrepreneurs pushing humanity forward with innovation.