February 26, 2014 -
Bruin Biometrics has just closed a $10 million round of funding.
According to the company, which current has two biometric sensing products ready for market in Europe and the United States, the funding round was oversubscribed by nearly $2.7 million. These new funds will be deployed to market the developed products, complete clinical trials and continue R&D on the company’s product pipeline.
“Investors are responding to this important opportunity ideally timed to solve critical issues that cost healthcare systems globally billions of dollars in expensive, preventable diagnostics and treatments. BBI’s biometric scanning technology is proven and ready to improve patient care simply and inexpensively,” said BBI’s Chief Executive Officer Martin Burns. “Investors, physicians and hospitals understand these sensors detect a number of key health conditions. They soon will become another essential tool used by nurses and other healthcare workers to check a patient’s vitals, just as the blood pressure cuff is used today.”
According to Bruin Biometrics, the company previously completed two initial rounds of funding for $4 million.