The round was led by Appian Way Asset Management, along with a strategic investment from one of its flagship healthcare accounts, MultiCare Health System. The proceeds of this financing will be used to scale up global commercial infrastructure including sales and marketing and product and customer success in order to meet the demands of the multi-billion dollar connected medical machine market. In addition, the company will utilize proceeds to refine and expand its offering to include additional analytical capabilities sought by the market.

Glassbeam is a pioneer in data and predictive analytics for connected medical machines that brings structure and meaning to complex data generated from a heterogeneous fleet of medical equipment. Only Glassbeam's patented cloud-based platform is designed to transform and analyze multi-structured data, delivering powerful solutions for enhancing machine uptime and utilization for organizations such as Canon Medical Systems USA, MultiCare Health System, UCSF Health, Scripps Medical, Harris Health, and US Radiology.