Praesidium Inc Closes $6MM Series A Funding
We've all read or heard of tragic stories about infants dying in hot cars, elderly people falling down, alone, and unable to get up. These are horribly tragic and oftentimes preventable events that affect families everywhere. Obviously these events are accidents, but prevention is key. Praesidium is here to change that story.
Established in 2016, St. George, Utah-based Praesidium was created with the intent to bring technology that could detect human presence and vital signs from another room. Their proprietary and patented technology BioFi will "... truly revolutionize the way biometric information is tracked and utilized in the sleep, child safety, medical and security industries." (biofi.tech)
The medtech heroes have recently announced a $6MM Series A with The Wasatch Group, a multibillion dollar company that has been headquartered in Utah for over 30 years. In a recent press release Aaron Gerszewski, VP of Venture Investments for Wasatch Acquisitions & Capital said,
"The convenience and reliability of the technology will redefine the way we monitor human vital signs in a variety of settings. We believe the Praesidium team has laid the groundwork for their BioFi technology to be adopted rapidly by B2B partners and we are excited to support the next phase of their growth and development."
We love seeing Utah investors cheering on Utah companies. Congrats to Praesidium.