FinSMEs: CalmWave Raises $4M in Seed Funding

Via FinSMEs, 11/15/23

CalmWave, a Seattle, WA-based company leveraging artificial intelligence (AI) to bring operational health to hospitals, raised $4M in Seed funding.

The round was led by Bonfire Ventures with participation from Tau Ventures, AI2 Incubator, Seachange Ventures, Hike Ventures, and PagerDuty.

The company intends to use the funds for recruiting talent, advance new marketing initiatives, and creation and launch of innovative products.

Led by CEO and Founder Ophir Ronen, CalmWave provides a platform that uses AI and expert services to help healthcare organizations optimize operations and make data-informed decisions. Utilizing a healthcare organization’s data, the company transparently empowers leadership to manage staff more efficiently, reduce turnover rates, and improve patient outcomes. Its platform ingests data from all devices a patient is connected to and delivers customizable views for every clinician on the floor: individual patient views, summary views of patients across the ward, and views of clustered patient alarms (incidents). Calmwave “Operations Health Scores” describe each nurse’s workload and well-being based on factors such as alarm volume, response times, patient length of stay, and nurse-to-patient ratio.

Additional features include:

  • Smart Alarms to intelligently group alarms into “incidents” based on alert buffering, false alarm probability indicators, added inputs for medications, and early warning indicators
  • Device Thresholds customized to each patient’s physiology & Alarm Monitoring to optimize devices for alarm reduction
  • Intelligent Patient Acuity to provide a comprehensive score of each patient’s condition based on real-time insights
  • Staff Orchestration to optimize staff workloads based on patient acuity and alarm volume and to update scheduling for improved staff retention
  • Insights & Analytics to host all users – nurses, managers, administrators, IT, and executives – within an easy-to-navigate command center
  • Expert Services engagements built into the platform to provide assessment, training, consultation, and implementation.