Stanford-backed iRhythm raises $16m series D round led by Norwest Venture Partners.

iRhythm, a Stanford University spin out medical device firm, has raised $16m in a series D round led by Norwest Venture Partners (NVP).

The US-based startup, which was spun out of Stanford’s biodesign programme, also attracted return investment in the round from existing backers, including New Leaf Ventures, Synergy Life Science Partners, and Kaiser Permanente Ventures. As part of the deal, Casper de Clercq, partner at NVP, will join iRhythm’s board of directors.

The firm has raised $52m since it was founded in 2006, including a $6.5m series B in 2009 that Stanford took part in.

The San Francisco-based iRhythm plans to use the latest round of funding to expand commercial efforts and accelerate development of new products. The company’s current flagship product is the Zio System, which assists with the diagnosis and monitoring of cardiac arrhythmias.

Kevin King, president and chief executive of iRhythm said: “We are pleased to…

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