Tenovi raises $20M to grow remote patient monitoring infrastructure
What's the deal? TenoviDealroom has a profile for this one. Try Dealroom → has closed a $20 million Series B led by Black Granite CapitalDealroom has a profile for this one. Try Dealroom →. The California-based company supplies the infrastructure behind remote monitoring programs — connected devices, cellular connectivity, data integration, fulfilment, and support. The round closed October 16; the company did not disclose a valuation or other investors.
What's the endgame? Healthcare organisations integrate once with Tenovi's API to reach a catalogue of more than 60 monitoring devices. Standalone cellular devices send readings on their own, while Bluetooth devices connect through the Tenovi Cellular Gateway, with all readings arriving in a single data feed on a SOC 2 compliant platform.
What's the money for? The round will extend the platform to new disease areas and expand the product and operations teams that support partners.
Founders Nizan Friedman and Daniel Zondervan started Tenovi in 2020. It now counts more than 400 partners and has shipped over 500,000 devices to US care teams, serving 319,000 patients. The Series B follows a $4.2 million Series A in 2023.
"Our partners have built their remote monitoring programs on Tenovi, and this investment lets us give them even more to build on," said Friedman, chief executive officer.
Why now? The raise lands against a regulatory reset. The Centers for Medicare & Medicaid Services' proposed 2027 fee schedule would restrict billable monitoring work to staff employed by the billing practice and add new patient-relationship requirements.
The signal: Those rules could pressure vendors that rely on outsourced monitoring, while raising the value of infrastructure that providers run in-house — the layer Tenovi sells. At $20 million, the round sits in the top half of raises by size, though it is not on its own evidence that the wider monitoring market is accelerating.
Read more: blogarama.com
Image credit: Tenovi
