Swift Medical Raises New Funding to Enhance Wound Care Tech

Swift Medical has closed $8 million in financing co-led by current investors BDC Capital’s Women in Technology Venture Fund and funds managed by Virgo Investment Group. Swift uses artificial intelligence to improve clinical and economic outcomes in chronic and acute wound care, and this financing will help accelerate its pace of technology enhancements.
 
“Swift has built a wound care tool that improves outcomes for patients and streamlines the busy workflows for providers. We are delighted to have the support of our existing and new investors. This financing enables us to expand our reach and enhance our technology, further revolutionizing wound care and impacting patient care,” Swift Medical CEO Brian Litten said.
 
“We are proud to be part of Swift Medical’s journey and this new funding round demonstrates our confidence in their dedication to improving wound care through technology,” stated Michelle Scarborough, managing partner, Thrive Venture Fund and Women in Technology Venture Fund at BDC Capital.
 
“Swift is excited to deliver significant enhancements to its platform in 2024 including enhanced data security, improved interoperability, and enhanced device capabilities. These initiatives aim to elevate the customer experience and drive excellence in healthcare technology. Swift Medical is transforming the standard of wound care,” Virgo Managing Director Dwayne Sansone added. “We are excited to continue of partnership with Swift to drive positive change in the digital wound care space.”
 
Swift Medical develops digital wound care technology. The company is headquartered in Toronto, and has operations throughout the United States and Canada. Swift aims to make care accessible to those who need it most through the power of AI and technology. The firm is a wound care technology partner to more than 4,000 North American healthcare facilities, with over 20,000 clinical users. More than 20 million wound images and 40 million assessments have been captured through its point-of-care app, which helps healthcare providers deliver standardized, accessible, and equitable wound care for every patient – with advanced, high-precision imaging, compliant documentation, and clinical analytics and remote care. 
 
BDC Capital is the investment arm of BDC, Canada’s bank for entrepreneurs. With more than $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions.

Founded in 2009, Virgo is a private investment firm based in California that identifies and grows business models into differentiated and profitable industry-leading companies. The firm has raised more than $1.9 billion since its inception.