Innovative Imaging Technologies Inc (IIT), the creator of a video-collaboration platform for healthcare professionals, has raised a sizeable funding round.
The $4 million round was led by a group of 10 investors, including Desjardins-Innovatech, Claridge Inc, Investissements W3, Fonds de solidarité FTQ and Hacking Health Accelerator.
Launched in 2014 by Dr. Yanick Beaulieu, ITT designed Reacts to support remote communications, education and supervision in the healthcare industry, according to PEhub’s Kirk Falconer. The Montréal-based company will use the cash to commercialize its technology and enter new markets in Canada and abroad.
“This investment is a sign of confidence that will enable us to accelerate our commercialization and tap into new markets,” said Beaulieu, the CEO of IIT, who is also a cardiologist and a critical care physician at the Hôpital du Sacré-Coeur de Montréal. He said his team would be growing as a result of the funding round.
ITT claims that the Reacts platform makes remote collaboration, education and supervision easier. Reacts provides video conferencing, secure messaging, file sharing and transfer, and application and screen sharing. It also integrates features like augmented reality and real-time image overlay.
The platform costs as little as $84 per year for an annual licence, and ITT says that integrating the platform at a healthcare organization is much more cost effective than installing conventional systems.
“Reacts helps improve access to care, reduce costs, make services more efficient, and improve satisfaction among patients and healthcare professionals,” said the company.