Avizia, a leading provider of cutting-edge telemedicine solutions, announced that it has closed an equity financing round led by NextGen Angels along with Blu Venture Investors and Middleland Capital.
The new funding will be used to continue to fuel the rapidly growing telemedicine company. With this financing round, Avizia welcomes Edward Kennedy, CEO and president of Tollgrade Communications, to its board of directors. He joins Leonard Kurtzman, CFO of newBrandAnalytics, who joined the board in the spring. Avizia has also recently established a commercial banking relationship with Silicon Valley Bank.
"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."
The capital raise follows on the heels of Avizia’s unveiling its new CA300 telemedicine system at ATA 2014. The funding will help Avizia continue to expand its sales channels, extend its product line, and grow market awareness.
"NextGen Angels takes an exceptionally entrepreneur-friendly approach precisely so we have the opportunity to work with superb teams such as Avizia’s," said NextGen Angels Managing Director Brett Gibson. "Avizia is positioned at the forefront of a new and rapidly growing industry with an uncommonly compelling technology."
Using Avizia products, healthcare providers can reach more patients, increase patient access to timely care, and work more productively through remote face-to-face collaboration. Avizia’s telemedicine portfolio includes a wide range of medical devices, software, and professional services that deliver an end-to-end telemedicine solution that is easy to implement.
"It’s rare to find a new company already delivering a fully developed product family to a large and diverse customer base," added Kennedy. "Avizia’s leadership, vision and technology are the caliber we find in companies that have been established for years in their respective industries."