DEO Receives 3.65 Million Euros in Funding

DEO is 3.65 million euros richer these days, thanks to infusions of capital from several investors.

Participants in this funding round included Capricorn Partners (via its Capricorn Digital Growth Fund), French investor Karista, and existing shareholders LRM and the imec.istart Fund.

“We’re thrilled to welcome these experienced and prominent investors to our mission. We’re very proud of their trust in the DEO team, and their confidence in the massive potential DEO has. With their support, we aim to further unlock new and crucial data and insights for hospitals and healthcare partners alike,” said Jeroen Dille, CEO and co-founder of DEO.
 
With its AI-backed data platform, DEO helps hospitals implement OR efficiency best practices while supporting healthcare industry partners move towards value-based healthcare through continuous data generation and quantification of operating room efficiency, team ergonomics, and financial performance.
 
Demand for DEO’s solution is eminent to meet increasing patient demand while overcoming medical staff shortages and immense hospital reimbursement pressure. Moreover, the aftermath of the pandemic accelerates this demand to safeguard national healthcare systems.
 
“DEO’s vision perfectly aligns with our investment strategy to focus on companies that turn data into actionable insights. Healthcare is primed to benefit from digital solutions that are powered by the convergence of human & artificial intelligence. DEO rises to this challenge with its OR efficiency platform that positively impacts the healthcare ecosystem to ensure safe and affordable care,” said Antoine D’Hollander, investment associate at Capricorn Partners.

After years in orthopedics, serving both hospitals and medical device companies like Johnson & Johnson, DEO will also use the additional capital to scale its offering to other surgical specialties and ramp up hiring across all areas of the company.
  
“The new financing will enable DEO to accelerate business development, build more commercial partnerships in Europe and the U.S., and strengthen our product offering even further by developing new software applications on top of the existing data platform, including automated technologies,” explained Tim Clijmans, chief financial officer and co-founder of DEO.

Technology advances and new surgical specialties will enable DEO to offer its solution to even more healthcare providers, resulting in true value-based healthcare. Generating first-of-its-kind datasets inside the OR, DEO provides eye-opening insights on workflows, team ergonomics, material usage, and financial performance. These insights reveal specific improvement opportunities to reduce fatigue of surgical teams, increase surgery volume, and reduce the total cost of surgery. 
 
“We’re very proud to contribute to DEO’s further international growth with this investment. The company has proven its value to be undeniable and recognizing the huge market potential; we firmly believe that DEO stands to play a key role in the way healthcare uses data and analytics to transform the patient pathway,” said Michaël Thomas, senior investment manager at Karista. 
 
“The fact that DEO already collaborates with hospitals and world-leading medical device companies is an excellent testimony to how the company’s technology works to turn real-time, local data into tailored, actionable insights,” added Tom Aerts, head of Investments at LRM. “No doubt, we’re thrilled to continue to be part of DEO’s journey and contribute smart money to its ambition of supporting healthcare providers and industry to achieve their goals.”
 
DEO—headquartered in Genk, Belgium—has developed an Operating Room Efficiency Platform that helps hospitals implement best OR Efficiency practices and support healthcare industry partners leverage value-based healthcare. The goal is to reduce fatigue of surgical teams, reduce the total cost of surgery, and increase patient volume while maintaining the quality of care. Through a data-driven approach, DEO generates and analyzes efficiency and ergonomics data within the OR to implement best-in-class processes and technology for efficient care delivery.