• Massachusetts-based passive patient monitoring platform Podimetrics has raised USD 45 Million in a Series C funding round led by D1 Capital Partners, with participation from new and existing investors as well as an undisclosed strategic investor. 

• The new funds will be used to hire additional staff in product development and research as well as to expand the services offered by its nurse support team. The company also plans to increase adoption among health plans and healthcare providers. 

• Podimetrics’ flagship product is an FDA-approved SmartMat that records temperature changes in the foot to identify early signs of inflammation and diabetic foot ulcer. Patient readings are remotely monitored by the firm’s nurse support team, which connect patients with their healthcare providers if a health issue is flagged. The company has doubled its revenue for a third consecutive year at the end of 2021 and also doubled its staff cadre. 

<ul><li> Analyst QuickTake: Diabetic foot ulcers, a common symptom of diabetes, is an important yet preventable health concern, which could lead to amputation (nearly 130,000 diabetes-related amputations are performed per year in the US). The latest funding round propels Podimetrics’ total funds raised to USD 73 million, the highest funded among the diabetic foot ulcer detection startups such as Siren Care, Orpyx Medical Technologies, and MR3Health .</ul>