On today’s Business Beat, Jeff talks to physician Daniel Siegal, CEO of Navv Systems, a Michigan-based company focused on hospital personnel location and equipment tracking and location services. The company just closed a $3.2 million venture fundraising round from some of the top venture firms in our region.
Tune in to the Business Beat, below, to learn more about Navv Systems and the way this company is changing health care for good:
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Good morning, Paul!
Nothing better than a great success story to get our week started right, and we’ve got one on the Business Beat this morning. We’ve got the story of a tech startup born right here in our region and starting to accelerate. They’re fresh off the closing of a $3.2 million venture fundraising round from some of the top venture firms in our region. The company is NAVV Systems, and the CEO driving it is physician Daniel Siegal, founded, developed, led and funded all by Michigan’s finest.
Dr. Siegal, tell us about NAVV Systems.
We make a software program called NAVV Track designed to assess really key needs around location in health care. We’ve been focused on addressing what we see as the three big problems that are created by not having good location information and health care.
Number one is just finding where you need to go. If you’ve ever spent any time in a hospital, you know how big and complicated these buildings are, and you’ve probably got lost at least once or twice. NAVV Track helps visitors know how to get from point A to point B. Number two, there’s a big problem in that hospitals can’t find their people or coordinate their teams.
So, what we do is we enable them to be located and mapped, and what that does is allow these teams to be more efficient, more productive, get their jobs done faster. The third problem that we address is helping employees within the hospital find all the equipment they need to get their job done and be more productive.
Daniel, tell us about the round of funding you just closed and what this means to the company’s future.
We are really excited to be working with Arboretum. They led our round. We’re also working with Detroit Venture Partners and another Michigan fund called Narrow Gauge Ventures, and that funding that we’ve been able to secure is going to help us rapidly scale.
There you have it. The story of NAVV Systems, a company born right here and on a fast track to success.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.