Avive secures $22 million in Series A Funding to advance intelligent AED and lifesaving platform for Out-of-Hospital cardiac arrest
SAN FRANCISCO – Avive Solutions, Inc., developer of an intelligent AED and connected response platform for out-of-hospital cardiac arrest (OHCA) emergencies, today announced that it closed a $22 million Series A round of financing co-led by Questa Capital, Catalyst Health Ventures and repeat investor Laerdal Million Lives Fund. This funding will be used to advance a new technology-enabled approach for improving OHCA survival rates. Ryan Drant, founder and managing partner of Questa Capital, and Darshana Zaveri, managing partner of Catalyst Health Ventures, both joined the Avive board in connection with the financing.
“Avive is changing the paradigm of response to cardiac arrest emergencies through our connected platform,” said Sameer Jafri, Avive co-founder and CEO. “By getting lifesaving automated external defibrillator (AED) technology in the hands of bystanders who can provide immediate help when and where it’s needed, and facilitating closer collaboration with emergency responders and healthcare providers, we believe our vision for a more streamlined system of care can greatly improve the odds of survival.”
How It Works: Fast, Data-Driven Emergency Response Is Critical to Survival
“Avive’s wirelessly connected-AED technology is revolutionary because of its accessibility, affordability and consumer-friendly design. We see enormous value in the development of a real-time response network of Avive’s devices. When paired with the company’s deployment model that integrates with emergency professionals and the community, we believe that Avive is poised to have a major positive impact on OHCA,” said Questa Capital’s Drant. “We look forward to working with Avive to scale the company’s operations and save lives.”
Avive’s robust platform solution integrates the Avive Connect AED, a state-of-the-art, easy-to-use, intelligent AED device that is awaiting approval by the U.S. Food and Drug Administration (FDA), with Avive’s proprietary data-driven emergency response software platform.
Watch the platform in action here!
The platform seamlessly connects with 911 Emergency Communications Centers (ECCs) through a partnership with RapidSOS, and offers incident data-sharing capabilities to providers in an effort to close data gaps that often exist during a cardiac arrest response. ECCs with access to RapidSOS will be able to dispatch Avive Connect AEDs to the location of a cardiac arrest emergency by audibly alerting and displaying a map on the device to navigate bystanders to the location of the person in cardiac arrest. This integrated system is designed in an effort to reduce time to defibrillation and increase the likelihood of AEDs being used before emergency medical services (EMS) arrive, as research shows that survival rates can increase to as high as 40% when that occurs. Avive’s platform also enables incident data from the emergency to be shared with 911 telecommunicators along with other public safety and healthcare providers, providing more situational awareness to what’s happening on-scene and supporting their efforts to deliver advanced care downstream.
Speeding Response Time to Increase Survival Rates
“Out-of-hospital cardiac arrest is one of the leading causes of death in the U.S, taking the lives of more than 350,000 people every year. Rapid intervention with CPR and a shock from an AED are proven ways to save more lives. Yet, quick access to AEDs and the knowledge to use them still remain a challenge,” said Darshana Zaveri of Catalyst Health Ventures.
Millions of AEDs have been deployed around the U.S in an effort to provide quick, lifesaving intervention for OHCA events. Every minute a patient does not receive a shock from an AED, their survival chances decrease by 7% to 10%. Despite their best efforts, the average EMS response time in the U.S. is eight to 12 minutes, making immediate access to an AED and use of the device by a bystander critical for the survival of a person experiencing OHCA.
However, timely response to cardiac arrest emergencies and actual use of those deployed AEDs remains a major challenge, despite the availability of more of these life-saving devices. Survival rates nationwide have remained at about 10%, with little meaningful improvement in years.
Avive seeks to improve outcomes by driving quicker response times to cardiac arrest emergencies with its first-of-its-kind platform that empowers rapid bystander intervention and a more connected system of care.
It Takes a Village: 4-Minute City Program
As part of its technology deployment plan, Avive has developed an innovative program called the 4-Minute City. The program includes strategic placement of Avive’s affordable AEDs throughout a city or county and use of its connected platform coupled with community training. By promoting education about OHCA emergencies and preparing citizens to step up when it matters most to deliver early intervention for cardiac arrest, Avive is providing an equitable solution in communities where there are often significant disparities in outcomes based on socioeconomic status, race, age and other factors.
“We envision a world where surviving a cardiac arrest emergency isn’t a one in 10 odds,” said Avive’s Jafri added. “Technology can improve the odds, especially if it is deployed in a thoughtful and data-driven manner. We want to bring affordable, intelligent AEDs to the places they’re needed most and empower those communities with the tools to perform life-saving measures even before first responders arrive. With this investment, our goal is not only within reach, it’s taking shape to create a new paradigm where death doesn’t have to be the expectation.”
The 4-Minute City program’s first community partners are the City of Jackson, Tenn. and Cumberland County, Pennsylvania, with more partner communities to be announced by Avive in the months ahead. In those areas, public safety, healthcare systems and civic leaders have collaborated to change the status quo of OHCA response in their communities by implementing Avive’s comprehensive platform in an effort to improve outcomes. Plans to launch the 4-Minute City program in other communities across the United States are currently underway. To learn more about, or become a part of the 4-Minute City program, visit avive.life/4-minute-city.
About Avive Solutions, Inc.
Avive is a San Francisco-based healthcare technology company that is bringing to market a revolutionary connected automated external defibrillator (AED), coupled with a first of its kind software platform to address the massive healthcare problem of out-of-hospital cardiac arrest (OHCA). Avive’s connected hardware and software platform will integrate with the existing public safety and provider ecosystems to create a comprehensive OHCA response solution, with the goal of significantly increasing survival rates from cardiac arrest emergencies.
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