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A CalmWave dashboard. (CalmWave Image)
CalmWave, the Seattle health-tech startup that created a system for dealing with alarms from devices attached to patients in hospital ICUs, raised $5.25 million in new funding, the company announced Wednesday.
The financing was led by Third Prime with participation from Catalyst by Wellstar, Silver Circle, Rebellion, Impulsum, and existing investors Bonfire Ventures, Tau Ventures, Hike Ventures. The new cash will be used to accelerate growth and expand partnerships, including with Premier, Inc. and Partners Co-op.
Originally spun out of the AI2 Incubator in 2022, CalmWave has been developing “Quiet ICU” as a software solution for alarm fatigue that impacts both clinicians and patients. The system targets non-actionable alerts triggered by monitoring systems that do not require immediate intervention or clinical response. These alarms make up 80-99% of alarms in ICUs, straining healthcare staff and impacting overall patient care, according to CalmWave.
It works by collecting data from the devices connected to each patient and providing a variety of ways to visualize it. Users can see individual patient views, summary views of all patients in a ward, alarm incidents, and more.
The system can suggest customized thresholds for each patient’s physiology. For instance, if a patient is a smoker with a low baseline oxygen saturation reading, it can suggest setting the threshold lower for an alarm from a pulse oximeter. The system uses AI to assess a patient’s data, learn from it about their physiological state, and provide suggestions for alarm thresholds.
CalmWave was founded by CEO Ophir Ronen, a serial entrepreneur who founded Event Enrichment HQ, a Seattle startup that helped companies respond to IT-related events, that was acquired by service reliability giant PagerDuty in 2015.
“We have demonstrated a 58% reduction in non-actionable alarms and increased safety in our retrospective analysis of one of our charter customer’s Cardiac Care units,” Ronen said in a news release. “We have strong momentum, and now, with this new investment, we are moving quickly to respond to the strong interest and rapidly expand to additional hospital systems.”
CalmWave won UX Design of the Year at the 2023 GeekWire Awards and Health Innovation of the Year at the 2024 event.
The startup’s headcount has increased 28.5% year over year. The company declined to provide specific revenue or headcount metrics.
