Gauss Surgical Completes $12 Million Series A Financing; Proceeds to Propel Commercial Growth of World’s First Mobile Platform to Monitor Surgical Blood Loss
Company Hires New Vice President of Sales to Accelerate Customer Acquisition
Los Altos, Calif., August 26, 2015 – Gauss Surgical, Inc. announced today that the company has completed series A financing to accelerate sales growth and further commercialization of the Triton System™, the world’s first and only mobile platform for real-time monitoring of surgical blood loss. The latest round was led by Promus Ventures and joined by Summation Health Ventures and LifeForce Ventures.
“As prior investors in the Gauss team, we recognized that they have the right combination of experience, vision and technology to bring this novel platform to the commercial mainstream,” said Mike Collett, General Partner at Promus Ventures, who will be joining the Gauss Surgical Board as an Observer. “Blood management has the potential to deliver better patient outcomes while reducing healthcare costs and surgical risk. Gauss has already developed significant customer momentum and we are excited to help propel this exciting phase of growth.”
“We are thrilled at the caliber of investors who continue to support our vision at Gauss,” said Siddarth Satish, Chairman, Founder, and Chief Technology Officer. “This next period will further enable us to technologically advance blood management as a patient safety issue, while allowing us to fundamentally reframe patient monitoring as a services and solutions business.”
As part of Gauss Surgical’s commercialization strategy, the company has hired J. Scott Ashworth as Vice President of Sales. Ashworth brings more than 25 years of experience in building and leading global sales and marketing teams focused on commercialization of products and establishing distribution partnerships. In his new role, Ashworth will focus on driving customer acquisition.
“As we embark on this pivotal phase in the commercialization of the Triton System, we are excited to have someone of Scott’s caliber join our team,” said Milton B. McColl, M.D., Chief Executive Officer of Gauss Surgical. “His extensive background in International medical technology sales will be an asset in growing our business both domestically and globally.”
Prior to joining Gauss Surgical, Ashworth served in executive sales roles at three medical device start-ups including Avinger (NASDAQ: AVGR) and Heartflow. Previously, Ashworth was Vice President of Worldwide Sales and Service at Siemens Healthcare and held various leadership roles at Hewlett Packard Medical in sales and business development functions across the United States and Asia Pacific.
The Triton System leverages mobile technology in combination with cloud computing. Using the iPad’s camera, the system scans surgical sponges and canisters, and sends the images to the cloud where sophisticated algorithms estimate surgical blood loss in real-time. Triton, which is both FDA-cleared and HIPAA compliant, features an intuitive iPad interface, requires minimal training, and seamlessly integrates into surgical workflow. The technology is being implemented at Cedars-Sinai Medical Center, UC Irvine Healthcare, the Memorial Care Health System, and other leading health systems across the United States.
About Gauss Surgical
Founded in 2011 and headquartered in Los Altos, Calif. Gauss is developing a mobile vision platform for the Operating Room. Gauss’ first application, the Triton System, addresses the patient safety issues surrounding blood management via real-time intraoperative monitoring of surgical blood loss. For more information, go to http://www.gausssurgical.com.