Vizabli, Inc. Completes $2.5M Seed Round Financing
By Business Wire
Funding allows Vizabli, Inc. to expand the team and execute an aggressive growth plan for 2023.
MASON, Ohio--(BUSINESS WIRE)--Vizabli, Inc. (https://vizabli.com), a rapid-growth med-tech company providing interactive, touchscreen smartboards and mobile applications to hospitals, announces the completion of a $2.5M seed funding round, led by Lone Star Communications, Inc. of Dallas, Texas.
Vizabli is the first and only solution provider that addresses the needs of clinicians, patients, and the patient’s friends and family, in a single solution called the Acute Care Engagement Solution (ACES).
Vizabli will utilize this financing to execute an aggressive product roadmap to deliver groundbreaking new features, including:
- integrated artificial intelligence to reduce falls
- single-pane-of-glass touchscreen television/smart board devices
- virtual nursing call centers
- remote patient vitals monitoring from the patient’s home
These new features are especially critical to address the current and future needs of hospitals that are overwhelmed due to staff shortages combined with high admit rates, both trends of which are forecast to continue into the foreseeable future. On December 8th, 2022, CNN reported that 10% of hospitals suffer “critical staff shortage” with 80% of hospital beds in use nationwide, with some states seeing 85 to 90% bed use.
Ray Bailey, owner of Lone Star Communications, which led this financing round, says: “As one of the nation’s largest healthcare integrators providing nurse call, RTLS, and other specialty systems, Lone Star Communications has experience bringing various technologies to the acute care space. We invested in Vizabli because their platform and ACES product is the most innovative and capable technology we have seen in years. Not only are we taking ACES to our customers, but we are also leveraging the underlying Nexus platform as the foundation to develop and deliver our products.”
Vizabli was founded by healthcare industry veterans in the summer of 2020 during the height of the COVID-19 pandemic when they discovered a critical need in the market to aggregate and deliver real-time healthcare data to not just clinicians, but also to the patient and patient-approved loved ones, ensuring everyone is up to date at all times.
“We are very proud of what we have accomplished so far in the acute care (hospital) space, but this is just the beginning,” says co-founder and CTO Richard Schramm. “Instead of trying to force-fit functionality into an existing TV management or patient engagement solution, we started with a blank slate. We focused first on developing a secure, scalable, and high-availability platform, that could receive and process real-time data from various systems, and securely deliver it to those who need it, when and where they need it. Then we developed ACES product to make that data visible on interactive touchscreen ‘smartboards’ that would eliminate dry-erase boards and door placards at the room, and census boards at the nurse station. Then we added mobile apps for the clinicians, the patients, and the patient’s loved ones to bring everyone into the loop.”
The market response to the product has been overwhelming.
“The response has been amazing. We have over 43 U.S. healthcare equipment distributors. They immediately see the value of the ACES product and several invested in this funding round and are reorganizing their businesses to dedicate resources to ACES,” says Ron Nelson, co-founder and CEO. “We are doing customer demos on a daily basis and once hospitals understand what we do, and how we are so much more than just a patient engagement solution, they want it immediately. We’ve had hospitals put the brakes on ‘patient engagement’ projects and pivot to “hospital room of the future” projects that include ACES instead.”
About Vizabli, Inc.
Vizabli, Inc. is a Delaware corporation, headquartered in Mason, Ohio with employees in Ohio, Kentucky, California, Arizona, Texas, and India. Vizabli’s mission is to bring real-time data and communications to, and between, everyone involved in a patient’s journey, including clinicians, patients, and the patient’s friends & family. Vizabli is a value-driven organization. Our core values are transparency, innovation, flexibility, and collaboration.
Co-Founder and CEO Vizabli, Inc
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First published on Fri, Dec 16, 2022
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