Gauss Surgical raises $13m in Series B for blood loss app

Gauss Surgical said today it closed a $12.6 million Series B financing round to support its real-time surgical blood loss monitoring platform. The company said the addition brings the total funds raised up to $24.6 million.

The round was led by Providence Health & Services investment arm Providence Ventures, with participation from Chicago-based Jump Capital and existing investors Promus Ventures, LifeForce Ventures, Summation Health Ventures and StanfordStart X Fund.

“Our vision at Gauss is to help patients and healthcare providers by leveraging data to improve and augment real-time decision making within complex care settings such as the OR. Our immediate goal is to eliminate guesswork around blood loss by having every health system in the United States take full advantage of Triton,” CEO Siddarth Satish said in a prepared statement.

The company said it elected 2 new board members in conjunction with the financing round, adding Providence Venture’s Daniel Galles and Promus Ventures Mike Collett, according to a press release.

“Triton is the future of blood loss monitoring. We are confident it will play a huge role in improving patient outcomes and provide the healthcare system millions of dollars in cost savings. Siddarth and the Gauss team have demonstrated strong operating experience and a compelling vision to disrupt the blood management space with a software-as-a-service business model, and we are thrilled with the opportunity to partner with them,” newly appointed board member Galles said in a press release.

The company’s Triton device and software is designed to help reduce unnecessary transfusions by scanning surgical sponges and blood bearing canisters where image-processing algorithms estimate the amount of blood contained in them. The device was created originally in 2011 and uses both an iPad and cloud-based algorithms to calculate blood loss, Gauss said.

“Gauss has created and refined a revolutionary technology that can help millions of patients in the years ahead. Siddarth provided excellent operational leadership as chief technology officer these past 5 years and is uniquely equipped to lead the company into its growth phase,” board chair Dr. Milton McColl said in prepared remarks.

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