FROM OUR CEO: SERIES B FUNDING

Puneet Pandit

I’m pleased to announce our $10M Series B financing round led by Appian Way with participation by MultiCare Health Systems, one of our flagship healthcare customers.

Thanks to the value we deliver to our customers, our business has achieved 90% CAGR in ARR since 2017 with 75+ customers across 200+ facilities by analyzing data from over 3,000 medical machines. Our recent contracts with Canon, Deloitte, MultiCare, and Cepheid position Glassbeam for high revenue growth through new end user accounts and footprint expansion. In short, we are well positioned as an agent of change in the healthcare industry, and we are just getting started.

Where we’ve been, where we’re going

On the heels of expanding Clinsights 2.0 with service analytics functionality targeted for radiology and clinical engineering departments, it’s worth looking back to where we started. Our story began in 2014 as an Industrial IoT Analytics Platform on AWS. However, we believed that as a pioneer in cloud-based data analytics platform and apps for the healthcare market, we could democratize clinical insights from connected medical assets with Expert Rules & AI/ML, helping increase machine uptime and utilization, leading to increased patient throughput, revenues and reduced operational costs.

The healthcare industry is undergoing a strategic shift from fee to value-based care, forcing providers to prioritize medical equipment uptime and utilizations. Efficiency and effectiveness require data driven insights to manage processes for scheduling, optimizing patient workflows and maximizing the utilization of assets to serve diverse populations.

Glassbeam Clinsights™, a proven industry solution, drives innovation in the healthcare market with advanced machine data analytics. Powered by artificial intelligence and machine learning technologies, Glassbeam Clinsights provides proactive alerts, predictive notifications, prescriptive recommendation and other smart maintenance capabilities for clinical engineering departments. The solution automates the collection and analysis of high volumes of complex data from multiple endpoints, putting organizations in a better position to transform their healthcare operations, lowering operating expenses, and increasing the efficacy of delivering care.

To our existing customers and partners, thank you! Thank you for the trust you place in us and for partnering in helping us build ever-evolving products that support Glassbeam’s vision for a smart hospital ecosystem built upon the data and predictive analytics produced by our patented software platform.

Lastly, I want to thank the Glassbeam team. This round is a testament to the faith our investors have not only in our product but most importantly in the people who lend their talent, time and passion in building our vision.

Read the full press release here.

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