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Otolith Labs, maker of a headband wearable that aims to treat chronic vertigo, raised $20 million in a Series A round led by Morningside Ventures.
The company announced last year the device had received FDA Breakthrough Device Designation alongside the close of a $3.3 million seed round. The Breakthrough Devices Program isn’t marketing approval from the FDA, but it aims to accelerate review of products that could help treat debilitating or life-threatening conditions.
The headband emits vibrations that interact with the motion sensors in the inner ear, which could lessen vertigo symptoms. Otolith said it will use the funds to support its clinical programs, anticipated FDA approval and the commercial launch of the device.
“The closing of our Series A financing led by the expert team of investors at Morningside and the continued support of our existing investors underscores the growing momentum for the first wearable solution for a debilitating problem that adversely affects millions of Americans,” CEO and founder Sam Owen said in a statement.
“The responders in our pilot studies reported instantaneous relief from their vertigo symptoms. The data from those studies support our plan to release our nVSMn [noninvasive Vestibular System Masking] technology as an effective and well tolerated therapy for chronic vertigo.”
Credentialing and licensing platform CertifyOS scooped up $14.5 million in a Series A funding round led by General Catalyst.
Other investors participating in the raise include Upfront Ventures, Max Ventures and Arkitekt Ventures. The company announced a $4.55 million seed earlier this year.
CertifyOS plans to use the cash from the Series A to expand its commercial, product and engineering teams, improve its insurance credentialing platform, and add new offerings like hospital credentialing, privileging, network accuracy, adequacy and directory management.
“This funding reinforces market conviction around the importance of integrating provider data silos to make information accessible, transparent and actionable,” CertifyOS CEO Anshul Rathi said in a statement. “Our Series A funding will allow us to create the mid-level infrastructure that connects all of the disparate data sources currently housing primary provider data, eliminating the borders and friction to scaling networks that exist in healthcare today.”
Patient engagement and navigation platform Upfront raised $10.5 million in Series C funding.
The round was led by Baird Capital, Echo Health Ventures and First Trust Capital Partners, with participation from investors including LRVHealth, Hyde Park Venture Partners and Nashville Capital Network.
The funding announcement comes weeks after the company announced it had acquired fellow patient engagement company PatientBond. Upfront most recently raised $11.5 million in Series B funding in 2020.
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