Sparrow secures $3.25M pre-A financing

CPE News (9/17/201210 – Sparrow Inc. has raised $3.25 million in pre-A round financing from two of Canada’s top investors, Klister Credit Corp., and Killick Capital Inc.

Halifax, Nova Scotia based Sparrow offers the world a new way to capture and process biological signals aimed at removing barriers for patients and lowering costs for health care providers. Sparrow aims to eliminate the high cost, low access and lengthy time frame for comprehensive cardiac assessment.

New Funding will allow Sparrow to finish building one of the most comprehensive data sets available to validate and further train its machine learning.

“We have a big contribution to make to the Quadruple Aim of healthcare,“ says Sparrow CEO Mark Opauszky. “Undetected, progressive conditions like cardiovascular and pulmonary disease affect hundreds of millions of people and cost the system billions every year. The world needs fast, early detection for populations wherever they are, and without all the barriers that exist today.”

“We are pursuing a big problem,” says Opauszky, “with these investors, and the amazing team at Sparrow, we are well positioned to start making a difference.”

Klister and Killick were the seed investors at companies like Shopify (NYSE/TSX: SHOP) and Verafin (acquired by Nasdaq).

In February 2021, Nasdaq completed the acquisition of Verafin, a SaaS technology provider of anti-financial crime management solutions, for US $2.75 billion.

Shopify went public on NYSE and TSX on May 27, 2015. Klister, a company controlled by John Phillips and wife Dr. Catherine Phillips, remains as Shopify’s second largest shareholder behind Tobias Lütke. Klister’s stake is worth US $5.7 billion based on Shopify’s closing price on September 16, 2021.

photo credit: Sparrow

News Release

Canada’s top early-stage investors get behind Sparrow to fuel computational health

HALIFAX, Nova Scotia (PRWEB) September 16, 2021

Sparrow Inc. announced today that it has closed 3.25 million in pre-A round financing from two of Canada’s top investors, Klister Credit Corp., and Killick Capital Inc. Klister and Killick were the seed investors at stellar companies like Shopify (SHOP – NYSE) and Verafin (acquired by Nasdaq).

“Sparrow has demonstrated something no one has ever seen before,“ says Mark Dobbin president of Killick. “We see great potential in them.”

“We have a big contribution to make to the Quadruple Aim of healthcare,“ says Sparrow CEO Mark Opauszky. “Undetected, progressive conditions like cardiovascular and pulmonary disease affect hundreds of millions of people and cost the system billions every year. The world needs fast, early detection for populations wherever they are, and without all the barriers that exist today.”

Sparrow explains that their proprietary technology allows them to leverage mobile devices in a whole new way. At the same time, their specialized data handling capabilities can fill a big gap alongside imaging and other information used to diagnose progressive diseases.

Sparrow says they are moving fast, and this new capital will allow them to finish building one of the most comprehensive data sets available to validate and further train their machine learning. “We are pursuing a big problem,” says Opauszky, “with these investors, and the amazing team at Sparrow, we are well positioned to start making a difference.“

About Sparrow

Based in Halifax Canada, Sparrow is a world-class team of engineers, doctors and product leaders that share a commitment to deliver disease detection at scale. Sparrow offers the world a new way to capture and process biological signals aimed at removing barriers for patients and lowering costs for health care providers.