VerAvanti wants to make it easier to detect and prevent strokes and heart attacks. (Bigstock Photo)
A startup just down the road from Microsoft’s global headquarters in Redmond, Wash., has landed a $5 million funding round to build products designed to prevent strokes and deal with heart problems.
Gerald McMorrow, VerAvanti founder and CEO. (VerAvanti Photo)
VerAvanti was founded in 2013 by Gerald McMorrow and Russell Garrison, who sold their previous company Verathon in 2009 and ran it for another three years. Up until this round, McMorrow was funding the company himself, but he declined to say how much he put in.
This new funding round comes from family and friends rather than venture capital. McMorrow told GeekWire that the structure of the company, as a deliberate, long-term producer of medical products, doesn’t fit well with the VC funding model.
“We want to create a really sold company, build lifetime careers for our people, build really good products for our customers that help them provide better healthcare to their patients,” McMorrow said. “We are not in here just to get something and flip it.”
Russell Garrison, VerAvanti president and COO. (VerAvanti Photo)
VerAvanti’s first product is called called a Scanning Fiber Endoscope, and it consists of an imaging station and a tiny catheter that is designed to take HD quality images.
The idea for the scope originally came from the University of Washington. McMorrow and Garrison licensed patents from UW and set off trying to find a use. They learned that there are few ways to identify risks for strokes and heart attacks. The scope is designed to give doctors and surgeons a peek into the hidden intra-vascular anatomy, so they can better identify the causes of strokes and cardiac events.
McMorrow said the company still has a ways to go before it can put …read more