German MedTech company Personal MedSystems (CardioSecur) closes €5 million Series B financing led by Dutch investor KPN Ventures

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CardioSecur-startup

Personal MedSystems, better known under its brand CardioSecur, has just received growth financing from a consortium formed around the Dutch lead investor KPN Ventures comprising new investors Sino-German High-Tech Fund and the NRW-Bank. Existing shareholders in the company Seventure Partners and HTGF also joined the round. The fresh capital will be used for sales growth and continued innovation on the company’s technology and data platform.

Founded in 2008 by Dr. Markus Riemenschneider and Felix Brand, CardioSecur offers mHealth services and products for people with cardiac symptoms and is building a unique smart data platform for predictive values. The company is based in Frankfurt am Main, Germany.

In industrialized countries some 200 million people suffer from recurring heart symptoms. The intensity and frequency of occurrence of such symptoms are not conclusive of the risks involved. The event may entail life-threatening myocardial infarction and stroke-threatening atrial fibrillation with only slight sensations, but also harmless extra beats with shockingly noticeable symptoms. Rapidly required action on one hand and unclear symptoms on the other hand present patients with a dilemma. As a result professional help is often contacted too late. People with cardiac symptoms need a reliable trigger to act in order to gain certainty.

In order to solve this issue, CardioSecur offers an instant cardiac monitoring service for private use. It is a smartphone based, personalized ECG device of highest clinical grade quality (15-lead ECG). CardioSecur is worldwide currently the only technology giving an instant feedback on heart symptoms when and wherever they occur.

In the app the user receives in less than a minute a recommendation on what to do next and may optionally share the profound ECG data with his personal physician for further use. CardioSecur gives peace of mind to users, minimizes the seriousness of cardiac events and allows effective chronic disease management. Its easy to use and profoundness of data allow CardioSecur to build a smart data pool for predicting critical cardiac events.

Herman Kienhuis, managing director of KPN Ventures, stated: “We see great potential for digital and mobile technologies to improve the quality of healthcare while reducing the cost. Personal MedSystems has developed such an innovation bringing great value to people suffering from heart problems and to cardiologists. In addition to financially supporting its growth, KPN will help Personal MedSystems in bringing CardioSecur to the Dutch market as well.”