US-based healthcare safety solutions company, Canopy has closed a $22 million Series B funding round to expand the US reach of its location intelligence platform.
The investment was led by US-based venture capital firms, 111° West Capital and ACME Capital, with participation from existing investors. The company noted that the money will fuel the expansion of its location intelligence platform designed to protect staff across US health systems.
Canopy’s system addresses the urgent crisis of workplace violence. The US Bureau of Labor Statistics noted that 156 healthcare workers were killed at their health workplaces between 2011 and 2018 in the US, averaging about 20 deaths each year.
The company boasts that its platform, deployed across over 1,200 buildings, provides real-time location-aware safety features like discreet duress buttons. “In the first six days alone, the system managed 18 incidents,” reported Chris Nemets of University of Michigan Health-Sparrow.
In conjunction with the funding, Canopy appointed healthcare technology veteran Bharat Sundaram to its Board of Directors. The company plans to use the capital to bring its technology to more workers and accelerate new offerings like Canopy Find and Canopy Track for operational efficiency.
