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Print Edition StoriesTuesday, December 8, 2009
.406 Ventures adds to $7.5M funding of health monitoring systems maker
By Galen Moore
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Boston-based .406 Ventures has invested in WellAWARE Inc., a Charlottesville, Va.-based maker of health monitoring systems designed to remotely track an elderly patient’s activity at home.
The venture capital firm participated with Virginia-based Valhalla Partners in a $7.5 million round of growth capital for the company, according to a press release issued Monday. Founded in 2000 by researchers at the University of Virginia, WellAWARE developed its technology through a partnership with two senior care providers, the Evangelical Lutheran Good Samaritan Society and Volunteers of America. The company launched its first commercial product over the summer.
The company’s technology comprises a system of motion sensors deployed in the home, and a software-as-a-service (SaaS) data monitoring system that pushes information to PCs and mobile devices held by caregivers, relatives and physicians.
Managing director Liam Donohue led the investment for .406, which is currently investing out of its first fund — closed at $167 million in 2008.
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