Virtual Care Company SameDay Security Raises $35M

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SameDay Security, a company that develops and sells electronic health monitoring and emergency response systems, completed its Series D funding round, bringing total capital raised to $35 million. The money will back its virtual caregiving system, Addison Care.

The company plans to seek funding from institutions and strategic investors in 2019 before debuting Addison — what SameDay claims is the world’s first virtual caregiver — at the 2019 Consumer Electronics Show in Las Vegas, Nevada.

Addison provides immediate responses to emergency, monitoring vitals with Bluetooth devices, sending medication reminders, assessing movements to measure risk of falling and assisting with nutrition, weight loss goals, health and plans of care. Addison can also work with providers to check health status for trends of improvement or decline.

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“Our goals are to provide utilization and customer satisfaction, while reducing instances of hospitalization, complications and mortalities,” the founder and CEO of SameDay Security, Anthony Dohrmann, said in a statement.

Addison was created to give life to voice-based virtual assistants to enhance user experience.

“We are focused on improving outcomes, treatment adherence and lowering caregiving costs and stress,” Dohrmann added.

Over the past seven years, the company, has used a lot of its capital on research and development. The platforms include technologies such as 3D augmented reality interfaces, conversational speech, machine learning, biomechanical analytics, electronic health record integration and medication management tools.

SameDay Security has worked with laboratories in health and aging research at New Mexico State University to coordinate connected devices couple to sensing and biomechanical assessment tools to screen thousands of patients and aging individuals across the country.

The company provides automated health monitoring solutions, including residential emergency response, telehealth and voice interface.

Its Electronic Caregiver already serves thousands of residential users, and Addison-powered products assist physical therapists and clinicians.

“We deliver the solution where it’s needed most, outside the providers walls and in the environment of daily living where patients and aging individuals spend most of their time,” Dohrmann said.

The Series D funding used 506 Reg D offerings, which allows smaller companies to raise capital through the scale of equity or debt securities without having to register their securities with the U.S. Securities and Exchange Commission. Shareholders included executives that do or have held positions with Honda, Oracle, Merrill Lynch, BlackRock Asia and Hospital Corporation of America.

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