Co-founded by a former UChicago research director, surgery workflow software provider Explorer Surgical has increased its total funding to $9m.
Explorer Surgical, a US-based surgery workflow management tool developer backed by University of Chicago’s George Schultz Innovation Fund, has closed a $5m round with investors led by venture firm Aphelion Capital.
The round also featured unnamed, existing investors as well as new backers likely to include investment firm Affinity Capital Management.
Founded in 2015, Explorer Surgical has created a workflow management software-as-a-service tool that allows teams of surgeons to communicate and effectively administer tasks in the operating room.
Surgeons can use the cloud-based platform to track and analyse their actions from their own device to support their professional development. Manufacturers of surgical products can also use the information as feedback on how their tools are performing.
Explorer Surgical’s founding team includes chief medical officer Alexander Langerman, a former director of University of Chicago’s Operative Performance Research Institute.
The business will now aim to drive the roll-out of its technology in hospitals, while also building its use-case for medical device testing. Kris Johnson, president of Affinity Capital Management, has joined the board of directors.
University of Chicago participated in a $3m series A round for Explorer Surgical in 2017 led by Aphelion Capital that also featured Harvard Business School Alumni Angels of Chicago, Elliot Management and M25 Group.
The university’s Innovation Fund also featured in Explorer Surgical’s $1m seed round the previous year alongside private equity firm CJM Ventures, M25 Group, Symphony Alpha Ventures, Wasson Enterprise and unnamed healthcare and angel investors.
