Somatix Overview
Somatix is the developer of a wearable-enabled remote patient-monitoring (RPM) software platform for healthcare providers. The companys solution uses patented gesture-detection technology and machine learning algorithms to analyze users gesture data in real time. The companys algorithms generate insights about potential adverse events by remotely and passively monitoring physical and emotional indicators such as activity levels, sleep quality, poor medical compliance, falls, dehydration, irregularities, and more. This data empowers healthcare providers with valuable clinical insights, helping them maintain continuous contact with and improve the well-being of those under their care. Somatix currently works with elder care facilities across the care continuum, including independent living, assisted living, sub-acute short-term care, and nursing homes, as well as hospitals (for use with discharged patients) and substance abuse rehabilitation centers.
Cumulative Funding Raised Over Time ($)
$1.5MApr 2015
$7.5MApr 2017
$12.0MDec 2019
Latest News
growth-positive
Somatix and Roche Partner to Bring Unique AI-Powered Remote Monitoring Solution to Dementia Patients
Somatix has been selected by Roche to provide its SafeBeingTM AI-enabled remote patient monitoring solution for dementia patients in Portugal. This is part of Roches initiative to improve the quality of life for people with dementia and their caregivers. Somatixs wearable technology uses AI to monitor patients with early to mid-stage dementia and alerts clinicians to risks such as dehydration, falls, and medication compliance. The company aims to demonstrate the benefits of this technology in improving health outcomes and plans to expand its reach globally.
Customers
growth-positive
Somatix Selected as Minicorn and Leader of Wearable Technology
Somatix, a tech startup that develops algorithms for wearable technology, has been recognized in the Emerging Startups of Wearable Technology list. The companys technology uses a simple smartband to detect and contextualize daily actions that impact health and wellness, such as drinking, smoking, and medication intake. The data collected can provide detailed insights into habits like the volume of water consumed or the number of cigarette puffs, without any manual reporting. The recognition is part of the Tracxn Emerging Awards, which highlight companies with the potential to become Unicorns in the future.
Customers
growth-positive
Allied Services unveils new patient care initiative utilizing remote monitoring technology from Somatix
Allied Services has announced a new partnership with Somatix, a provider of wearable-enabled, AI-powered Remote Patient Monitoring solutions. The partnership aims to enhance patient care and safety for vulnerable individuals served by Allied Services. Somatixs technology allows for passive monitoring of a patients Activities of Daily Living, providing valuable insights into a patients health. Allied Services will begin utilizing Somatixs wearable-assisted remote patient monitoring solution and SafeBeing™ platform with patients in Northeast and Central Pennsylvania. The partnership is expected to bring benefits for vulnerable individuals experiencing isolation. Allied Services is the first healthcare partner in the world to utilize the Somatix SafeBeing™ system. The partnership was made possible by a state grant of $50,000.
Partners
growth-positive
St. Francis Health Services of Morris Begins Use of Somatix® SafeBeing Technology
St. Francis Health Services of Morris has begun piloting the Somatix SafeBeing technology in six of its long-term care centers. The technology utilizes gesture detection technology, machine learning, and advanced analytics to passively monitor residents activity levels, sleep patterns, hydration, and more. The implementation aims to improve care and safety for individuals receiving services, with a focus on fall prevention and personalized care. The use of the technology is made possible by funds awarded by the Minnesota Nursing Facility Performance-based Incentive Payment Program (PIPP) grant. St. Francis Health Services of Morris is partnering with Somatix Inc., a provider of wearable-enabled, intelligent Remote Patient Monitoring (RPM) solutions for healthcare providers.
Customers
growth-positive
Somatix Appoints Technology Veteran Dr. Amit Sawant as Its First Chief Business Development Officer
Somatix has appointed Amit Sawant as its first Chief Business Development Officer, which will accelerate the companys growth and sales in the remote patient monitoring market. Dr. Sawant brings extensive experience in enterprise and consumer space, SaaS, analytics, AI/ML, and security. His role will involve overseeing the development and delivery of Somatixs technology solutions to its customers. The appointment reflects the transformative time in the healthcare industry and the companys focus on protecting peoples lives through remote patient monitoring.
Management Changes
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $13.7M |
| Last funding | $750K |
| Stage | Mature |
| Rounds | 5 |
| Investors | 3 |
Team Members
4
Employees: 11-50
Web & Social Links
| Website | www.somatix.com |
| Google Play | Google Play |
Locations
HaHaroshet St 16, Ra'anana, Israel
3 Columbus Circle, New York, NY, USA
Photos & Videos
3 item(s)
Somatix Business
Business models
B2B
Product stage
Released
Employees
11-50
Sector
Health Tech & Life SciencesDigital HealthcarePatient Remote MonitoringTarget Customer
Healthcare & Life SciencesHealthcareProvidersConsumersDemographics & FamilySeniorsCore Technology
Semiconductors & ElectronicsWearablesArtificial IntelligenceMachine LearningData StorageCloudPlatforms & InterfacesSoftwareMobileCommunicationsIOTTags (25)
wearablegesture-recognitionbehavior-analyticsremote-monitoringmhealthdigital-healthcareiotdata-analyticsadherencemachine-learningpatient-engagementhealthcare-providersseniorsartificial-intelligencebig-datacloud-basedactionable-insightspredictive-analyticsreal-timesaasmobile-applicationsdecision-supporthome-carehospitalsrehabilitationGeographic Markets
United StatesSomatix Financials
$13.7M
Total funding
Undisclosed
Capital raised
$750K
Last funding
Mature
Funding stage
5
Total rounds
3
Investors
Cumulative Funding Raised Over Time ($)
$1.5MApr 2015
$7.5MApr 2017
$12.0MDec 2019
Private Equity Funding
Convertible Debt
Dec 2019
$4.5M
A Round
Apr 2017
$6M
Digitalis Ventures (Lead)
,
Forefront Analytics
Seed
Apr 2015
$1.5M
Summus Venture Capital
Non-Equity Funding
GrantEvent
May 2020
$750K
Israel Innovation Authority
GrantEvent
Apr 2018
$950K
Somatix Lifecycle
Cumulative Funding Raised Over Time
$1.5MApr 2015
$7.5MApr 2017
$12.0MDec 2019
All Events
Convertible Debt
Dec 2019
$4.5M
A Round
Apr 2017
$6M
Digitalis Ventures (Lead)
,
Forefront Analytics
Seed
Apr 2015
$1.5M
Summus Venture Capital
GrantEvent
May 2020
$750K
Israel Innovation Authority
GrantEvent
Apr 2018
$950K
Somatix News
19 articles
growth-positive
Somatix and Roche Partner to Bring Unique AI-Powered Remote Monitoring Solution to Dementia Patients
Somatix has been selected by Roche to provide its SafeBeingTM AI-enabled remote patient monitoring solution for dementia patients in Portugal. This is part of Roches initiative to improve the quality of life for people with dementia and their caregivers. Somatixs wearable technology uses AI to monitor patients with early to mid-stage dementia and alerts clinicians to risks such as dehydration, falls, and medication compliance. The company aims to demonstrate the benefits of this technology in improving health outcomes and plans to expand its reach globally.
Customers
growth-positive
Somatix Selected as Minicorn and Leader of Wearable Technology
Somatix, a tech startup that develops algorithms for wearable technology, has been recognized in the Emerging Startups of Wearable Technology list. The companys technology uses a simple smartband to detect and contextualize daily actions that impact health and wellness, such as drinking, smoking, and medication intake. The data collected can provide detailed insights into habits like the volume of water consumed or the number of cigarette puffs, without any manual reporting. The recognition is part of the Tracxn Emerging Awards, which highlight companies with the potential to become Unicorns in the future.
Customers
growth-positive
Allied Services unveils new patient care initiative utilizing remote monitoring technology from Somatix
Allied Services has announced a new partnership with Somatix, a provider of wearable-enabled, AI-powered Remote Patient Monitoring solutions. The partnership aims to enhance patient care and safety for vulnerable individuals served by Allied Services. Somatixs technology allows for passive monitoring of a patients Activities of Daily Living, providing valuable insights into a patients health. Allied Services will begin utilizing Somatixs wearable-assisted remote patient monitoring solution and SafeBeing™ platform with patients in Northeast and Central Pennsylvania. The partnership is expected to bring benefits for vulnerable individuals experiencing isolation. Allied Services is the first healthcare partner in the world to utilize the Somatix SafeBeing™ system. The partnership was made possible by a state grant of $50,000.
Partners
growth-positive
St. Francis Health Services of Morris Begins Use of Somatix® SafeBeing Technology
St. Francis Health Services of Morris has begun piloting the Somatix SafeBeing technology in six of its long-term care centers. The technology utilizes gesture detection technology, machine learning, and advanced analytics to passively monitor residents activity levels, sleep patterns, hydration, and more. The implementation aims to improve care and safety for individuals receiving services, with a focus on fall prevention and personalized care. The use of the technology is made possible by funds awarded by the Minnesota Nursing Facility Performance-based Incentive Payment Program (PIPP) grant. St. Francis Health Services of Morris is partnering with Somatix Inc., a provider of wearable-enabled, intelligent Remote Patient Monitoring (RPM) solutions for healthcare providers.
Customers
growth-positive
Somatix Appoints Technology Veteran Dr. Amit Sawant as Its First Chief Business Development Officer
Somatix has appointed Amit Sawant as its first Chief Business Development Officer, which will accelerate the companys growth and sales in the remote patient monitoring market. Dr. Sawant brings extensive experience in enterprise and consumer space, SaaS, analytics, AI/ML, and security. His role will involve overseeing the development and delivery of Somatixs technology solutions to its customers. The appointment reflects the transformative time in the healthcare industry and the companys focus on protecting peoples lives through remote patient monitoring.
Management Changes
growth-positive
Somatix Announces Integration with PointClickCare
Somatix has announced a technology partnership with PointClickCare, integrating its Remote Patient Monitoring solution, SafeBeing, with PointClickCares Core Platform. This integration allows caregivers to continuously monitor and analyze seniors daily routines in real-time using Somatixs enterprise dashboard, smartband, user mobile app, and caretaker/family app. SafeBeing utilizes gesture detection technology, machine learning, and advanced analytics to detect hand movements and report on activities and events. The passive data collected through a wearable band is automatically entered into the EHR via PointClickCares API. The partnership with PointClickCare expands Somatixs reach in the senior care market and enhances the quality of care for joint customers.
Partners
Somatix launches AI-powered remote patient monitoring
growth-positive
Somatix Raises $4.5M for its Wearables Solution That Saves Lives Through Gesture Detection - AlleyWatch
Somatix, a software company that provides wearable technology for remote patient monitoring, has raised a total of $11.5 million in funding. The companys SafeBeing software solution is used by elderly care facilities and rehab centers to monitor patients wellbeing and intervene before serious accidents occur. The data collected is accessible to healthcare providers via a caregiver dashboard. The company plans to expand its services to more states and is preparing to raise Series B financing.
InvestmentExpand
growth-positive
Dr. Americus Reed II joins Somatix Advisory Board
Somatix has appointed Dr. Americus Reed II as an Advisory Board Member. Dr. Reed is an identity theorist and researcher in the field of marketing. His expertise in marketing, brand identity, and consumer research will be valuable as Somatix commercializes its Remote Patient Monitoring platform. Somatix is a software platform provider of wearable-enabled RPM solutions for healthcare. Their cost-effective platform uses gesture detection technology and machine learning algorithms to analyze users gesture data in real time, providing important clinical insights to healthcare providers.
Management Changes
growth-positive
Catholic Senior Housing and Health Care Services, Inc. (CSHHCS) and Somatix Inc., Launch a Program to Trial SafeBeing™ A novel gesture detection RPM Solution for Seniors
Somatix Inc. has partnered with CSHHCS to launch a pilot program for their SafeBeing product, which allows caregivers to monitor seniors daily routines using a wearable smartband and mobile app. The program will validate the technological aspects of the product and is funded by the Israel-U.S. Binational Industrial Research and Development Foundation. SafeBeing utilizes gesture detection technology, machine learning, and advanced analytics to detect activities and events such as walking, sleeping, and medication intake. The goal is to enhance the quality of life for elderly residents and provide caregivers with real-time alerts and reminders. CSHHCS is excited about the partnership and the potential of the SafeBeing product.
Partners
growth-positive
Investor Group Takes Initial Stake In Somatix, Inc.
Somatix, Inc. announces the appointment of Dr. Christopher Geczy to its board of directors. Dr. Geczy represents an investor group that has made an initial investment into Somatix. He brings 20+ years of experience in the private fund space and is a leader with a depth of knowledge across all aspects of the institutional marketplace. The company is gaining momentum in the digital health market and believes its technology is revolutionary.
Management Changes
growth-positive
Remote patient monitoring partnership announced
Catholic Senior Housing and Health Care Services in Pennsylvania has partnered with Somatix to develop the SafeBeing™ product. SafeBeing will be deployed on the companys campus and used in different levels of senior care. The goal of the pilot project is to incorporate SafeBeings digital health platform into the care delivery platform. The product uses sensors in smartwatches and smartbands to track data. The partnership is seen as a positive growth opportunity for the company.
Partners
Press Releases Archive - Digital Journal
growth-positive
Somatix® Launches 'SafeBeing™,' a Wearable-assisted Remote Patient Monitoring (RPM) Solution Catering for the Needs of Growing Elderly Population
Somatix has launched SafeBeing, a wearable-assisted, gesture detection platform for remote patient monitoring of elderly individuals activities of daily living. SafeBeing uses existing sensors in smartwatches or smartbands to collect data for analysis, allowing for passive monitoring without the need for additional hardware installation. The platform leverages machine learning and big data analytics to detect variations in hand gestures and alert caregivers or family members of potential dangers. Somatix aims to facilitate aging in place and meet the growing demand for digital health innovation in the aging population. The launch of SafeBeing is expected to have a positive impact on the companys growth.
CustomersPartners
growth-positive
Founders' Story: Somatix
Somatix, a provider of wearable-enabled gesture detection solutions for health intervention and wellbeing enhancement, is addressing the need for proactive real-time care in the healthcare market. Their real-time gesture detection platform leverages sensors in smartwatches and IoT connected devices to monitor physiological and emotional indicators. The platform supports two major use cases: SmokeBeat, a smoking cessation solution, and SafeBeing, a remote patient monitoring solution for elderly and chronic patients. Somatix has participated in healthcare accelerators and conducted clinical studies to validate their products. Their business model includes initial set-up fees, software license payments, and additional services. Their customers include healthcare providers, caregivers, employee-benefits programs, hospitals, and payers.
CustomersPartners
growth-positive
A New Frontier In Remote Patient Monitoring (RPM): Gesture Detection
The article discusses the potential of using hand gestures as a passive monitoring tool in healthcare. It highlights the limitations of current remote monitoring solutions and the need for a broader tracking scope. The emergence of IoT-connected wearables with sensors designed to recognize hand movements is enabling the collection of health data from daily gestures. The combination of wearables built-in sensors, such as accelerometers and gyroscopes, can recognize hand gestures in physical space. The data collected can be analyzed using adaptive Machine Learning algorithms and Big Data analysis to provide meaningful insights to healthcare professionals. Gesture detection has the potential to improve remote patient monitoring and deliver personalized, real-time care at a reduced cost. The article is written by Uri Schatzberg, CTO & Co-founder of Somatix.
CustomersPartnersInvestment
growth-positive
Somatix Co-founder and CEO Eran Ofir: "To Succeed, You Must Be in Touch with Reality" - Red Herring
Somatix, a gesture-driven health and wellbeing wearable tech company, has raised $7.5 million in venture capital. The company is targeting the digital health market, which is expected to exceed $379 billion in value by 2024. CEO Eran Ofir discusses the companys foundation, the challenges faced, and the importance of differentiation in the tech industry. Somatix plans to raise additional funds in a series B round to fuel its growth and expand into new markets beyond the US.
InvestmentExpand
growth-positive
Wearables 2.0: From Raw Health Data to Insight-Based Healthy Living
The article discusses the evolution of wearables, particularly smartwatches and fitness trackers, and their potential impact on healthcare. It highlights the transition from Wearables 1.0, which focused on tracking fitness and basic medical parameters, to Wearables 2.0, which incorporates technologies like Big Data Analytics, AI, Machine Learning, and Predictive Analysis to provide deeper insights and personalized treatments. The article emphasizes the shift from curing to caring in healthcare and the benefits of remote patient monitoring through wearables. It also mentions the recent reimbursement structure legislation that supports the use of wearables in medical care. The key topics discussed include the growth of smartwatches and fitness trackers, the potential of wearables in healthcare, and the importance of data analytics and machine learning in improving patient care.
CustomersPartnersInvestment
growth-positive
Somatix Wins 2017 Market Disrupt: A Venture Pitch Event
Somatix, a startup, won the inaugural Market Disrupt venture pitch event hosted by Global Healthcare Resources (GHR) and Global Healthcare Ventures. Somatixs BMD Management platform, which enables body motion detection, tracking, analysis, and management, was recognized for its potential to lower healthcare costs without compromising quality. As the winner, Somatix will receive a prize package that includes exposure at GHRs annual event, a media campaign, introductions to investors, and advisory analysis. The event received significant support from the employer, insurance, and investor community. GHR plans to expand the event in 2018 under the new brand Healthcare Revolution. Partners for the event included Merging Traffic, Startup Nation Ventures, and Florida Angel Nexus.
Partners
Somatix Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 25 |
| Team members | 5 |
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Somatix Internal
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Admin Info
| Confidence | 102/100 |
| Missing | markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515203487 |
| Crunchbase | somatix |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2022-10-25T00:00:00.000Z |
| Created | 2014-11-24T00:00:00.000Z |
| Claimed | Yes |