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Sunrise Group, which offers a sleep health technology platform, announced it raised $29 million in a funding round led by Eurazeo.
Amazon's Alexa Fund, Sambrinvest, WE International, Kurma Partners, Seventure Partners, Vives Fund, Majycc (an UI Investissement fund), Namur Invest, Investsud, Noshaq, IMBC and Invest.BW participated in the round.
WHAT IT DOES
The sleep technology group offers Dreem Health, its digital sleep clinic that provides access to licensed sleep care experts. The model is powered by Sunrise's FDA-cleared mandibular sensor, which enables at-home diagnosis of sleep apnea.
The company will use the funds to expand nationwide, grow its clinical services and invest in sleep technology by developing hardware and software to enhance the detection, monitoring and treatment of sleep disorders.
"This funding helps us make expert sleep care available in days, not months. Over 70 million Americans face sleep disorders, yet, for many, access to specialists is often delayed or out of reach," Laurent Martinot, CEO and founder of Sunrise Group, told MobiHealthNews.
"With Dreem Health, patients can now test, get diagnosed and start treatment from home — with the latest technology and insurance coverage."
MARKET SNAPSHOT
Earlier this year, Sunrise announced a partnership with Humana to increase the health insurer's members' access to Dreem Health's sleep technologies and services.
Last year, Sunrise acquired Dreem Health, a California-based sleep clinic, with the aim to "democratize and accelerate" access to sleep care by integrating Sunrise's proprietary diagnostic technology with Dreem Health's partnerships with major insurers and Medicare.
Belgian sleep-focused digital health startup Sunrise, founded in 2015, received FDA 510(k) clearance for its home sleep apnea test, which is placed on a user's chin at night, in 2023.
Other companies in the sleep health space include Big Health, which received FDA 510(k) clearance for its SleepioRx digital therapeutic aimed at reducing insomnia and improving sleep.
Big Health received $75 million in Series C funding in 2022, two years after securing $39 million in a Series B raise.
Earlier this month, tech giant Apple announced new health features for its newly released Apple Watches, including Sleep Score, which helps the wearer understand the quality of their sleep by analyzing sleep duration.
It also announced its new entry-level smartwatch, the Apple Watch SE 3, which will include health features, such as sleep score and sleep apnea notifications.
