Avizia over-subscribes its Series A by $6 million

Telemedicine startup Avizia announced an unusual bonus on what was thought to be a closed Series A with a $6 million additional investment. There was also an unusual investor–the New York-Presbyterian health system. The add-on was led by HealthQuest Capital. Also reported was an extension of Silicon Valley Bank’s agreement for $3 million in debt financing and a $1.5 million line of credit. In July, the first part of the Series A had $11 million from Blue Heron Capital, HealthQuest Capital and five other investors. Total investment is over $22.7 million. From a start in telemedicine carts using Cisco Telepresence, Avizia developed software and apps for mobile devices, including secure messaging for doctors within hospitals. The new funds will be used to upgrade its engineering capabilities to build new capabilities into its telehealth platform, integration with electronic health records and the ability to monitor the battery life of remote diagnostic devices. Also unusual is that they market in the US, UK and Australia covering 400 health systems, including 1,000 hospitals. MedCityNews, Crunchbase

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