A fast-growing Nashville health care startup has its eye on further expansion.
AngelEye Health has now raised $20 million in lifetime funding thanks to a new capital raise, led by independent investor Brad Whitmore and Nashville-based venture capital firm Mountain Group Partners, according to a news release.
AngelEye declined to disclose the amount of funding raised in the new round, only saying it has raised approximately $20 million since its founding in 2014. The startup previously raised capital at least two other times, bringing in more than $1.9 million in separate raises in 2021 and earlier this year, according to U.S. Security and Exchange Commission filings.
AngelEye’s platform provides patient and family communication tools — including a camera system, online education, care updates and a breastfeeding management system — to hospital neonatal, pediatric intensive care and nursery departments.
The company has grown rapidly, tripling its annual revenue over the last three years, while increasing its headcount to 39 people and expanding its client list to 125, according to the release. AngelEye is on pace to provide nearly 10 million virtual bedside visits this year.
The new funding will be used to accelerate AngelEye’s growth, including making new hires and expanding its product research and development efforts, according to the release. SeedtoB Capital and the Rash Family Office also participated in the new round of funding.
“AngelEye Health understands the essential role that family-integrated care plays in all aspects of neonatal and pediatric care, and, as an organization, we are so proud of what we’ve accomplished to date making this a tangible reality for the hospital partners we serve,” AngelEye CEO Christopher Rand said in the release. “We are looking forward to building off this success by continuing to grow and refine our product portfolio in order to meet the evolving needs of the hospital partners we serve.”
