AirStrip Technologies Receives Investment from Sequoia Capital

Leading venture capital firm joins forces with remote patient monitoring innovator

Aug 11, 2010, 09:30 ET from AirStrip Technologies, Inc.

SAN ANTONIO, Aug. 11 /PRNewswire/ -- AirStrip Technologies, a pioneer in mobile medical software development, announced today that it has closed a financing round with leading venture firm Sequoia Capital.

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"Sequoia Capital has a sterling reputation for contributing to the growth of the most forward thinking and innovative businesses in the world," noted Dr. Cameron Powell, co-founder and President of AirStrip Technologies. "We are honored to have the Sequoia name attached to our outstanding team as we work to raise the standard of care in patient monitoring both in the U.S. and globally."

"AirStrip Technologies has established itself as an innovator in remote patient monitoring via mobile devices. Mobility is a key component of healthcare reform, and AirStrip is positioned at the forefront of this medical technology and mobility revolution," said Scott Carter of Sequoia Capital. "The talented team of professionals at AirStrip is dedicated to improving patient safety in virtually every acute care setting through the use of their technology."

"Sequoia's team clearly understands the AirStrip software development platform as well as the healthcare and mobility space on a global scale," said Trey Moore, co-founder and CTO of AirStrip Technologies. "Their experts and partners bring a wealth of knowledge and experience that will only serve to further expand AirStrip's global reach."

The Sequoia Capital investment will help drive adoption of the AirStrip OB solution as well as accelerate further development, partnerships and marketing efforts for AirStrip Remote Patient Monitoring (RPM) solutions. AirStrip RPM technology targets the need for remote patient monitoring in a wide variety of patient environments. The AirStrip RPM solution received U.S. Food and Drug Administration (FDA) clearance last month. The federal clearance allows AirStrip to extend its virtual real time monitoring technology for mobile devices to virtually every acute patient clinical environment, including the intensive care unit, the emergency department, the operating room, the neonatal ICU and other similar settings.

With AirStrip Technologies' RPM solutions, medical professionals use their smartphones to gain unprecedented access to vital signs, critical waveform data and other clinical information, which is sent directly from the hospital and can be viewed from virtually anywhere a cell phone or other wireless connection is available.

AirStrip was advised by Shattuck Hammond Partners and Karutz Flavin Wells on the transaction.

About AirStrip Technologies, Inc.

Headquartered in San Antonio, Texas, AirStrip Technologies is a pioneer in mobile medical software applications designed to work across any platform to improve patient safety and reduce risk in the healthcare setting. AirStrip Technologies engages, consults and employs leading technology and medical experts to ensure their products are the best in the industry. The core technology team is committed to bringing best-of-breed products to the market that enhance the ability of physicians and healthcare professionals to perform their work on a daily basis with the added assurances that their patients are being provided the best care available. Visit www.airstriptech.com for more information.

About Sequoia Capital

Since 1972, Sequoia Capital has provided early stage and growth stage funding for very smart founders and executives who have turned great ideas into sustainable companies of enduring value. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with accomplished innovators and operators who built great franchises such as Amylin Pharmaceuticals, Ameritox, Apple Computer, Cisco Systems, CV Therapeutics, eCardio Diagnostics, Flextronics, Google, Network Appliance, nVidia, Onyx Pharmaceuticals, Oracle, Oxford Health Plans, PayPal, Ventritex (now part of St. Jude Medical), Yahoo!, YouTube, and Zappos. To learn more about Sequoia Capital visit www.sequoiacap.com/growth.

SOURCE AirStrip Technologies, Inc.



RELATED LINKS

http://www.airstriptech.com


http://www.sequoiacap.com