Navv Systems Closes Series A Financing to Help Healthcare “Do More With Less”

ANN ARBOR, MI. – Navv Systems, a Southeastern Michigan-based healthcare technology company focused on healthcare personnel and equipment location services, announced the close of a $5.5 million Series A funding round led by Arboretum Ventures. Michigan Rise and Red Cedar Ventures also participated in the financing along with existing investors including Narrow Gauge Ventures and Detroit Venture Partners.

Navv continues to expand the capabilities of its healthcare-focused indoor navigation and location services platform called NavvTrack®, which uses indoor location technology to better manage equipment, personnel, and clinical workflows. New modules in the platform include Specimen Tracking that helps hospitals stop the widespread problem of losing lab specimens, and Device Management, which helps systems better keep track of the large fleets of mobile phones and tablets

“Now is a critical time for healthcare, with so many staffing challenges and financial difficulties. Hospitals are in dire need of efficiency, utilization, and automation tools like NavvTrack that help them do more with less,” said Daniel Siegal, M.D, Navv’s Co-Founder and CEO. “This financing is a key milestone in support of our growth and expansion with new health system customers.”

The company has active deployments at eight US hospitals and is planning a number of expansions with new customers across North America. NavvTrack has demonstrated improvements in workflow and cost efficiency by coordinating people, equipment, and materials on a single app-based platform. The company maintains an active partnership with Apple, leveraging the strengths of the Maps and Indoor GPS features integrated in iOS devices, enabling an optimized mobile user experience that helps drive real-time healthcare with gains in efficiency, utilization, and productivity.

“We believe that this kind of indoor location platform is going to be a big part of the future of healthcare,” said Tim Petersen, managing partner at Arboretum Ventures. “Navv is addressing pressing and widespread healthcare challenges in a cost-effective and sustainable way. They are applying best practices from other industries like airlines and logistics and delivering practical solutions for healthcare that make sense.

For more information, please visit www.navv-systems.com.

Source: https://navv-systems.com/navv-systems-closes-series-a-financing-to-help-healthcare-do-more-with-less/