Propeller Health raises $22m in Series C

Propeller Health said today it closed a $21.5 million Series C round of financing, with funds salted to help expand the company’s digitally-guided therapy platform.

The fund was joined by newly invested 3M Ventures, S.R. One, Limited and Hikma Ventures and by previous investors Safeguard Scientifics and Social Capital.

“Propeller is bringing a smarter, digitally-guided approach to the management of respiratory disease, an area of significant economic burden to healthcare
systems. The company uniquely combines unprecedented real world evidence about how patients take their medications, with a deep understanding of what people want from their respiratory treatment. Propeller routinely demonstrates consistent and measurable results in patient satisfaction, clinical improvement and cost savings across diverse program, payer and patient types,” S.R. One, Limited partner Rajeev Dadoo said in a prepared statement.

“Our investment in Propeller Health demonstrates our focus on identifying and investing in innovative, high potential digital health providers. We are very excited to support the development of Propeller’s technology platform, which is enabling physicians, patients and providers to have advanced access to better quality data in the growing respiratory segment,” Hikma Ventures managing director Lana Ghanem said in prepared remarks.

The company’s digitally-guided platform is designed to integrate information from multiple sources, including connected medications, and use machine learning to recogment optimal therapy paths for individuals, Madison, Wisc.-based Propeller health said.

“We aim to make today’s treatments more accessible, personal, powerful and convenient for each person who uses them, and enable physicians to measure, analyze and act to help their patients. Our goal is to connect and guide these patient-physician teams to find the right path of therapy for each individual,” Propeller CEO David Van Sickle said in a press release.

In May, Propeller Health said it inked a collaborative development deal with inhaled pharmaceutical company Vectura Group to develop a digitally-connected inhaler system.

Through the collaboration, the companies will combine Vectura’s dry powder inhaler with Propeller’s digital health platform. Initial development will focus on an add-on sensor for Vectura’s lever-operated multi-dose inhaler, U.K.-based Vectura said.

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