WellAware Systems, which develops wellness monitoring solutions for senior care providers, secured $7.5 million in venture capital from Valhalla Partners and .406 Ventures.
WellAware’s monitoring system consists of an array of wireless sensors placed throughout the senior’s home — these sensors capture data that is then communicated wirelessly through the cloud to the WellAware database. WellAware can then automatically generate alerts via email, page or text message in the event of a possible emergency. If for example the impact and motion sensors detect data that indicates a possible debilitating fall, WellAware would alert caregivers. Similarly, if the motion and temperature sensor detects data above a certain threshold while the stove is unattended, WellAware would alert a caregiver. Other sensors include humidity sensor, bed sensor and a door sensor among others. The patient also has a mobile personal emergency response system (PERS) medallion to push in order to call for help, too.
WellAware pointed to a recent Forrester Research report for its market opportunity: Forrester recently estimated that remote personal health monitoring sales are expected to reach $5 billion in 2010 and explode to $34 billion by 2015.
For more on WellAware’s round of funding, read the entire press release here