MMC Ventures invests in AI-powered snap40 with $8 Million funding led by ADV
MMC Ventures has backed AI-enabled healthcare company, snap40, in an $8 million seed round led by Accelerated Digital Ventures (ADV).
snap40 monitors the human body in real-time using its wearable device, with accuracy equivalent to ICU monitoring. Using this real-time data, the company’s proprietary algorithms identify those whose health is at risk and proactively bring healthcare to them. Initially, snap40 is deploying this with top healthcare providers in the U.K. and the U.S.
The investment will accelerate snap40’s expansion into the U.S., where it has clinical trials and pilots with leading hospitals and institutions looking to identify acutely and chronically deteriorating patients earlier, in order to reduce risk and cost while improving patient health.
Christopher McCann, snap40 CEO and co-founder, said,
“As a medical student, I witnessed patients live with long-term disability or die as a result of late recognition of their deteriorating health. This is where technology can make a difference. It’s a moral imperative to use all of our knowledge in science and technology to improve healthcare – that’s why Stewart and I founded snap40. Using AI to recognize illness earlier and enable earlier treatment can save lives, and it can prepare our healthcare system for the future.”
David Kelnar, partner and head of research at MMC had this to say of the investment,
“With our society growing older and larger, in the coming years we will see AI fundamentally reshape how healthcare is delivered. snap40 is an excellent example of how AI is moving ‘beyond the hype’ – the company’s robust application of AI is solving an important real-world problem, augmenting the efforts of healthcare staff and helping save lives. We’re excited to support Chris, Stewart and the rest of the team as the business expands and brings their technology to new markets.”
See coverage of the snap40 investment via TechCrunch.