Gauss received $20 million in round C financing

October 18, 2018 / AP / -- Gauss surgical, an AI driven health technology company, raised US $20 million in round C financing, with investors including northwell health, Softbank ventures Korea, a global early venture capital institution of Softbank group, LS Polaris innovation fund and seven other leading US medical groups The funds raised will be used to accelerate the use of Triton platform in hospitals and to develop artificial intelligence driven applications for operating rooms Triton, the company's flagship product, uses digital imaging and machine learning to monitor surgical blood loss on the iPad in real time It has been approved by the U.S Food and Drug Administration for new medical devices as well as EU CE certification It is more and more widely used in American hospitals To date, Triton has been used in 50 hospitals that deliver more than 200000 babies a year In the past, doctors would carefully observe the operation area and estimate the blood loss by visual inspection As we all know, this method is not accurate The attempt to determine the weight of the aspirator and sponge usually results in errors due to the presence of other liquids such as amniotic fluid or flushing fluid Triton quickly scans blood filled sponges and aspirators and uses computer vision and machine learning to estimate blood loss, greatly improving accuracy In the past 15 years, preventable maternal deaths and harmful postpartum health complications have increased significantly in the United States due to undetected major bleeding, especially during C-sections According to a recent survey of 2781 caesarean section patients in the American Journal of perinatology, installing Triton can significantly improve doctors' recognition of maternal bleeding and significantly reduce blood transfusion and hospital stay "As a leader in the field of artificial intelligence driven health technology, Gauss has significantly changed the way medical equipment and services are used in hospital delivery or surgery," said J.P Lee, CEO and managing director of Softbank Korea venture capital We are happy to support Gauss and the founders in revolutionizing the way the operating and delivery rooms work In addition to rapid customer adoption, the Triton platform has demonstrated significant improvements in care, including improved clinical outcomes, reduced costs, and increased operational efficiency " Siddarth Satish, founder and CEO of Gauss, said: "the practical application of AI in hospitals will significantly promote the development of medical technology industry, especially in meeting the high cost and large impact of unmet clinical needs We are very pleased to form a strategic alliance with investors who have brought us a wealth of operational experience in AI services and health as we upgrade the platform " Northwell health, like several other healthcare groups that have invested, has adopted Triton in hospital delivery rooms Northwell health is one of the largest medical groups in the United States It receives more than 2 million patients in the metropolitan area of New York every year, with an annual operation budget of nearly $12 billion Dr Michael Nimaroff, senior vice president, Ob/Gyn Services, Northwell Health, said: "Gauss can significantly improve the accuracy of blood loss quantification in obstetric patients and help improve the treatment of maternal bleeding Reducing maternal mortality and disease has become an important patient safety issue for northwell and national hospitals " Eric Feinstein, investment director of northwell health, added: "Gauss's Triton system sets the standard for the types of innovation we recognize as technology strategic investment It changes the way the system works, improves clinical outcomes, and clearly improves ROI because of the reduced associated care costs In addition, Gauss's platform is expected to play a greater role in the operating room, thereby improving quality and safety and reducing costs " The investors of round C financing include LS Polaris innovation fund of Polaris partners Polaris partners is a Boston based venture capital firm with over $4.3 billion in asset management Investors also include strategic investment subsidiaries of several leading medical groups, such as UNC / Rex healthcare, OSF healthcare, provision healthcare, Orlando health, spectrum health, Mount Sinai health system and Memorial Hermann health system Ellie McGuire, an investment partner at LS Polaris innovation fund, said: "we believe that with AI and data-driven solutions that seamlessly integrate into the operating room, Gauss has a unique ability to radically change clinical decision-making processes and improve patient outcomes." Triton introduces Triton uses computer vision and machine learning algorithm to analyze the images of surgical sponge and aspirator taken by iPad in operating room, so as to estimate the blood loss of patients in real time Triton has shown that accurate real-time estimation of blood loss can identify massive bleeding as early as possible, reduce blood transfusion and shorten the length of stay Triton has been approved by the U.S Food and Drug Administration and CE certification, and has been adopted by 50 hospitals in the United States Triton won the Apple Design Award in 2018 The award recognizes the best design, innovation and technology on Apple's platform Gauss introduction Gauss is a technology company located in Silicon Valley It is the pioneer of air transmission of medical technology The company uses computer vision and machine learning to provide mobile applications for the operating room, focusing on improving patient safety, quality and outcomes Triton, the company's first product, is a real-time blood loss monitor that improves patient care and reduces hospital costs Northwell health is the largest healthcare provider and private group in New York State, with 23 hospitals, 665 outpatient clinics and more than 18500 affiliated doctors With the support of our society, we care for more than 2 million patients every year in New York City and other areas Our 66000 employees - more than 16000 nurses and 4000 employed doctors, including members of northwell health physician partners - are committed to improving medical care We continue to make medical breakthroughs at Feinstein Institute of medicine We train the next generation of medical professionals at the Donald and Barbara Zucker School of medicine at Hofstra University / northwell and the Hofstra northwell Graduate School of nursing and assistant physicians Introduction to Softbank Korea venture capital company Softbank Korea venture capital company was founded in 2000, located in Seoul, South Korea It is the only global early stage venture capital company under Softbank group Softbank Korea venture capital company invests in potential start-ups in Asia, the United States, Israel and the European Union, focusing on the artificial intelligence, Internet of things and intelligent robot industries.