Friday November 21, 2014 0 comments
BOULDER - Flashback Technologies Inc., a data analytics software firm developing and commercializing its proprietary CipherSensor technology platform, announced closing on $2 million in Series A financing.
The investment round was led by PAC Partners with further investment from the company's existing investors.
Flashback said the funding will support the near-term build-out of its infrastructure, hiring of key personnel and provide additional working capital necessary to support further development and a market launch of its first product in late 2015.
"We are very excited about closing this most recent round of financing, the timing and success of which is a terrific validation of our capacity to deliver a groundbreaking technology to the healthcare marketplace," said Gordon Van Dusen, Flashback's president and CEO.
"Our clients, partners and investors are fully committed to bringing the first application of this technology to the commercial market next year."
The $2 million round was significantly oversubscribed and brings Flashback's total investment to about $12 million to support development of its data analysis technology platform, the company said.
One of the company's first product applications of CipherSensor is currently in development to aid in the care of patients in trauma and critical care settings.