- $56.5M Equity Financing Led by
Questa Capital, Laerdal Million Lives Fund, and Catalyst Health
Ventures, with New Participation from RC Capital and Eckuity
Capital
- Avive has rapidly built an expansive and diverse customer
base, delivering its FDA approved and award-winning AED technology
to organizations across all 50 states, which has already led to
numerous lives saved. Customers range from Fortune 100
corporations and federal government agencies to national fitness
chains, prominent universities, K-12 school districts, and
more.
SAN
FRANCISCO, April 18, 2024 /PRNewswire/ -- Avive
Solutions, Inc., the developer of the world's most advanced
connected automated external defibrillator (AED) - the Avive
Connect AEDⓇ - today announced the closing of a
$56.5 million growth equity
financing. The round was led by Questa Capital, Laerdal Million
Lives Fund (LMLF), and Catalyst Health Ventures, and welcomed
several new investors including RC Capital and Eckuity Capital. The
new capital will be used to accelerate Avive's commercial
developments across the United
States and to further expand the team with top talent. The
Company also announced that Rik
Vandevenne, Managing Partner at RC Capital, has joined
Avive's Board of Directors.
"The Avive team is revolutionizing Sudden Cardiac Arrest (SCA)
response with their innovative platform that seamlessly integrates
a next generation AED device with a robust software ecosystem to
dramatically shorten the time to deliver a life saving shock," says
Vandevenne. "We believe this will meaningfully move the needle on
survivability for patients of all ages and we are excited to join
the board to support in the next stage of growth."
Sudden Cardiac Arrest (SCA) is a massive healthcare challenge in
the US, with over 430,000 lives lost each year to this devastating
condition. Time is the greatest enemy especially for those who
experience out-of-hospital SCA, as survivability decreases by 7-10%
for every minute they go without a shock from a defibrillator and
high-quality CPR. Despite the heroic efforts of first responders,
EMS typically takes 8-12 minutes to arrive on scene, making the use
of an AED by a bystander in the earliest minutes of an emergency
critical for survival. Currently, the lack of connectivity with
AEDs and the inability of emergency and citizen responders to
identify where AEDs are located, even when devices are nearby, has
led to a dire situation where AEDs are only used in around 4% of
SCA events prior to EMS arrival. The result is a shockingly low 10%
nationwide survival rate for SCA patients that has remained
unchanged for decades, despite early defibrillation being proven as
an effective therapy.
Avive's mission is to improve cardiac arrest survival rates by
making AEDs ubiquitous: portable, ready-to-use devices in
communities, schools, businesses, and homes. The company aims to
create a new paradigm where AEDs are accessed and utilized far more
often in the critical early minutes of a cardiac emergency, giving
patients the best possible chance of survival.
At the heart of Avive's solution is the portable, handheld
Avive Connect AED, which has robust internet connectivity via
Cellular, WiFi, GPS, and Bluetooth that powers several of Avive's
software solutions. One of those solutions, Avive's Intelligent
Response Platform™, powers a program Avive calls the 4-Minute
City™, which offers a unique approach to drive the improvement of
survival rates throughout the United
States. Avive partners with its 4-Minute Cities to use
historical SCA data to strategically deploy hundreds of Avive
Connect AEDs throughout their community. These communities then
leverage Avive's software to network those AEDs into their 911 and
public safety ecosystem through the Company's partnership with
intelligent safety company RapidSOS. Through its 4-Minute Cities,
Avive is establishing a connected network of willing responders
with AEDs that can be audibly alerted by 911, and dispatched with a
map on the device and via SMS to a nearby SCA emergency, with the
goal of an AED being used on the patient well before EMS arrives on
scene. This transformative program and solution is already in
active use in forward-thinking communities such as Cumberland County, PA; Jackson, TN; Forsyth
County, GA and Carrollton,
TX - with many more expected to launch in 2024.
"Avive is poised to disrupt a critical, but innovation-starved
market – automated external defibrillators," says Ryan Drant, Managing Partner at Questa Capital
and Avive board member. "The visionary team led by Sameer Jafri, Rory
Beyer, and Moseley Andrews
has fundamentally transformed AEDs by integrating seamless,
wireless connectivity. This connectivity not only allows for remote
device monitoring and management, but crucially, can enable much
faster response times to emergent cardiac arrest events."
"Since we successfully launched our Avive Connect AED in the
summer of 2023, we've been incredibly encouraged by the tremendous
demand we've seen for our lifesaving technology," added
Sameer Jafri, Avive's CEO. "Most
importantly, our device has already saved numerous lives. Just last
week in Georgia, a young man in
his 30's collapsed during his regular morning run, and was
resuscitated by a quick-thinking police officer who used the Avive
Connect AED. Because of the product our team has made possible, and
the foresight of that police department to equip their vehicles
with Avive Connect AEDs, that gentleman now has a chance to have an
entire life ahead of him. We are grateful for the strong support
from our investors, and look forward to partnering with them to
enable many more lifesaving stories and impact."
Avive has rapidly built an extensive customer base, delivering
their product to organizations across all 50 states. This diverse
customer roster includes national gym chains, Fortune 100
companies, Federal Government agencies, large universities, K-12
school districts, and more, underscoring the broad appeal and
applicability of Avive's solution. These large, multi-site
customers leverage Avive's other key software solution, the
REALConnect Platform™, which is designed to automate the tracking,
maintenance, and oversight of an AED owner's fleet of devices.
Since launching its groundbreaking AED product and platform,
Avive has garnered significant industry recognition and established
their position as a leading provider of lifesaving AED
technology. The company's founders were also named to the
prestigious Forbes 30 Under 30 Class of 2024. Additionally, the
Avive Connect AED has been widely acclaimed, earning FastCompany's
Most Important Healthcare Design award, a Silver Award from NY
Product Design in the Medical Devices & Technology category,
and two Gold awards in the Service Design and Medical & Health
categories of the 2023 International Design Excellence
Awards (IDEA).
The Avive Connect AED can be purchased directly through the
company's website at avive.life.
About Avive
Avive Solutions, IncⓇ is revolutionizing Sudden
Cardiac Arrest response with an innovative ecosystem that
seamlessly integrates a state-of-the-art, connected AED (the Avive
Connect AEDⓇ) and first-of-its-kind software solutions.
Focused on portability, accessibility, and connectivity, the Avive
Connect AED aims to establish a new standard of excellence in the
industry. Complementing this device are Avive's REALConnect
Platform™, a software solution designed to streamline AED ownership
and management, and Avive's Intelligent Response Platform™, which
is designed to provide comprehensive cardiac arrest response
capabilities to entire communities. This connected approach aims to
ensure AEDs are ready to use when needed, increase bystander
intervention, reduce time-to-defibrillation, and facilitate the
rapid transfer of critical data to those who need it most. Founded
in 2017, AviveⓇ is dedicated to empowering
bystanders, first responders, and 911 telecommunicators to
administer lifesaving care with ease and efficiency. Its versatile
connected AED and software solution protects individuals across a
diverse array of industries and organizations, spanning businesses
of all sizes, government agencies, educational institutions,
municipalities, religious establishments, healthcare facilities,
emergency medical services, public safety agencies, sporting
venues, corporate campuses, retail establishments, hospitality
industry, entertainment venues, and even homes. Learn more
at https://avive.life/.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/avive-solutions-raises-56-5m-in-growth-funding-to-build-connected-aed-network-and-transform-cardiac-arrest-emergency-response-in-communities-nationwide-302120562.html
SOURCE Avive Solutions, Inc.