Spike Raises $700k to Help Digital Health Apps Use Wearable Data |
Summary
which allows companies to integrate biomarker data.200 wearable sensors and IoT devices into their applications.Company announced the closing of a $700,000 pre-seed round on Wednesday.Finally, standardization, ETL pipeline design, data orchestration, and cleansing are needed to make the data actionable.Spike solves all three of these problems through a single REST API and a streamlined ETL solution, allowing developers to quickly access more than 20 sensors with no investment and test in 24 hours instead of six months. Finally, mental health apps want aAnxiety and stress levels are measured by heart rate variability from smart devices such as Garmin watches, while inIntegrating mindfulness apps like Calm or the Muse Headband IoT device to track meditation.Officially incorporated in September 2022, the company isnt disclosing how many customers it currently has, though Godzius said it was dozens and thatThe highest ROI is for B2C apps that use a freemium pricing model for their applications, which is the majority of apps.Data connectivity with consumer wearables allows them to provide premium and customized solutions, and move consumers from free to paid subscriptions, he explained.Also, weve seen a drop in churn rates for both paid and unpaid customers, so this helps our customers increase the stickiness of their solutions; again, because the wearables data Drives customization and personalization features. No upfront investment is required to leverage the Spike API because we offer a B2B SaaS pricing model and you can go live within the same week.Spikes pre-seed funding round was led by Geek Ventures, with participation from CEAS Investments and APX, as well as angel investors from Austin, Texas, NYC and Silicon Valley.The company intends to use this amount. Invest in back-end infrastructure to support additional large workloads as it increases the average size of your clients and users. will reduceFinally, resources will go into further development of our white-label AI analytics services such as facial recognition for skin care and predictive/recommended AI tools for sleep and stress management.Ultimately, Spikes mission is to bring the benefits of cross-sensor data fusion to real-life problems such as public health, Gudzius said.We want to lower the barriers to entry so that even small startups in health, automation, climate tech, or other industries can easily take advantage of these new sources of data from the physical world.