MedRhythms, a digital therapeutics startup in Portland, announced this week that it has raised an additional $2 million as part of its Series B round, bringing the total size of the round to $27 million.
The company, which first announced its $25 million Series B in July, kept the round open for one of Japan’s largest venture capital firms, Global Brain, as well as a follow-on investment from Bose Ventures, which had previously invested an undisclosed amount in the company, which has developed a product that uses sensors, software, and music to measure and improve walking for patients with a neurologic injury or disease.
MedRhythms previously said it would use the Series B funds to expand its team and key corporate functions as it nears commercialization, as well as advance other products in its pipeline that address the negative effects of other neurologic injuries and diseases, including Parkinson’s, acute stroke and multiple sclerosis.
Morningside Ventures and Advantage Capital co-led theSeries B, with participation from existing investor Werth Family Investment Associates. The company has raised a total of $36 million since its founding, including a $5 million Series A in 2018 and a seed round the year prior.
The New England Venture Capital Association recently nominated MedRhythms for Emerging MedTech Company of the Year as part of its 9th Annual NEVY Awards.
