Dublin-based medical technology company Fire1 has raised $120m in new financing.
The company, led by Conor Hanley, aims to improve heart failure management by making it easier for patients to monitor their own condition.
The fund-raising was led by Polaris Partners and Elevage Medical Technologies, with the Ireland Strategic Investment Fund contributing $22m to the round.
They were joined by new investors Sands Capital and Longitude Capital, as well as existing investors Andera Partners, Gilde Healthcare, Gimv, Lightstone Ventures, Medtronic, NEA (New Enterprise Associates), Novo Holdings and Seventure Partners.
Fire1's Norm heart failure management system offers a groundbreaking approach for patients to manage heart failure.
As well as the financing, Fire1 today also said it has received Breakthrough Device Designation from the US Food and Drug Administration (FDA) and has been accepted into the FDA's Total Product Lifecycle Advisory Programme (TAP).
The company also welcomed Ellie McGuire, Partner at Polaris Partners, and Michael Wasserman, COO at Elevage Medical Technologies to its Board of Directors.
"From the beginning, our team has been driven by two core goals: creating a better way to manage heart failure by monitoring fluid volume more directly, and empowering patients with actionable data to improve their lives," said Conor Hanley, CEO and President of Fire1.
"I am thrilled to welcome four more world-class investors to our exceptional syndicate," he added.
