Jintronix Announces Seed Investment, led by Madrona Venture Group
(PR Web Via Acquire Media NewsEdge) Montreal, Canada (PRWEB) November 19, 2012
Jintronix, a company that designs medical software for physical and cognitive rehabilitation, today announced that it has secured seed capital and is relocating the company’s headquarters to Seattle, WA. The financing round was led by Madrona Venture Group, an early-stage venture capital firm.
Jintronix was founded to help individuals who have suffered from stroke or traumatic brain injury recover and get back to their normal lives. The company has developed a software platform that makes use of Microsoft’s Kinect for Windows platform to facilitate interactive, cost-effective, long-term rehabilitation programs. The software creates a feedback loop between a patient performing rehabilitation exercises remotely and a physical therapist. The physical therapist can monitor the patient’s performance data collected via the camera, and based on that data, prescribe subsequent “gamified” exercises that are tailored to the patient’s individual recovery needs.
Jintronix won the Montreal International Startup Festival this year, and is also the recipient of a Grand Challenges Canada “Stars in Global Health” award grant. The company also participated in the first class of Microsoft’s Accelerator for Kinect program, in partnership with Techstars. “I am excited to see the success Jintronix is having,” said Craig Eisler, Kinect for Windows General Manager. “We had great hopes for our Kinect Accelerator program, so it’s especially gratifying for me to see Jintronix and so many of the other Accelerator participants thriving. I look forward to great things from them in the near future.”
Founded in 2010 by Justin Tan, Shawn Errunza, Mark Evin, Lex Youssef, and Sonny Sung Jun Bae, Jintronix was inspired by CEO Justin Tan’s experience helping his father through physical rehabilitation after a stroke. Tan realized that for many patients, physical rehabilitation can be prohibitively expensive, tiresome, and sometimes even inaccessible. The Jintronix team works directly with physical therapists and patients to address these issues through its low-cost, interactive virtual rehabilitation system. “I was inspired to start Jintronix after my father suffered a stroke and I saw firsthand the limitations associated with traditional rehabilitation,” says Tan. “When we first got started in 2010, we never imagined we would become a venture-backed company. I'm humbled by the incredible support we have received from Madrona, TechStars, Microsoft, and the Montreal and Seattle communities. We have a lot of work ahead of us as we build toward our full vision for the company, but we are thrilled to be able to use this funding to begin improving the lives of patients with our virtual rehabilitation solution.”
In addition to financing the company’s move to Seattle, Jintronix will use the seed funding to further develop the product, build out a library of interactive rehabilitation exercises, and launch a round of clinical trials. “I am excited about this investment,” says Paul Goodrich, Managing Director at Madrona Venture Group. “This is a super-smart team applying cool technology to radically change the rehabilitation process for the benefit of both patients and health care professionals.”
To learn more about Jintronix and the company’s mission, visit http://www.jintronix.com.
Jintronix (http://www.jintronix.com) is a medical software company developing a system for physical and cognitive rehabilitation. As a pioneer in tele-rehabilitation, Jintronix is leveraging new low-cost motion tracking technology to create customized rehabilitation regiments for clients to access at home. Their system also provides powerful remote monitoring and management tools for clinicians.
About Madrona Venture Group
Madrona Venture Group (http://www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and infrastructure, and wireless. Madrona currently manages nearly $1 billion and was an early investor in companies such as Amazon.com, Isilon Systems, World Wide Packets, iConclude, Farecast.com and ShareBuilder.
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