VIPC’s Virginia Venture Partners Invests in Kinometrix to Provide Healthcare Workers With Real-Time Risk Assessments

Tool Uses Predictive AI to Reduce The Chances of Dangerous Falls

RICHMOND, VIRGINIA, UNITED STATES, May 22, 2023/EINPresswire.com/ -- Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation (VIPC), today announced an investment in Kinometrix . Fort Belvoir, Va.-based Kinometrix is an artificial intelligence (AI) platform that uses EHR data to predict patient harm events in hospitals. This funding will be used to support the Kinometrix’s initial go-to-market with early customers. This company also received funding from VIPC’s Commonwealth Commercialization Fund.

Fall prevention has been the subject of intensive research and quality improvement efforts for years, however still remains a major challenge for healthcare organizations. Each year approximately 1 million patients fall in the hospital, with a third of these events resulting in injury. While there are proactive fall prevention tools currently on the market, existing clinical prediction tools remain largely subjective and imprecise, and none has been shown to be significantly more accurate than others. The Kinometrix platform: Fall Risk Assessment Solution (K-FRAS) is changing this using data to deliver accurate fall risk along with the drivers of individual patient’s risk directly to the clinician in real-time.

“While a simple fall might not seem like a major health issue, it can lead to other serious injuries like a broken bone or a concussion. Our platform empowers workers to provide accurate, specific, and real-time risk assessments,” says Devina Desai, CEO and Co-Founder of Kinometrix. “Our team has spent 5 years building a platform to prevent patient harm in hospitals while reducing nursing workload, and we are thankful to VIPC’s Virginia Venture Partners investment to help continue our growth.”

The Kinometrix platform is powered by machine learning that uses electronic health record data to assess risks for patient harm events in an accurate manner, ensuring patient safety. The solution, K-FRAS, uses more rigorous and objective patient data, and provides an accuracy superior to all other fall risk prediction tools. Clinicians receive automatic and precise risk prediction based on existing EHR data, including the nurses’ expert assessment, so they can individualize interventions to the patient.

“The team’s combined clinical, administrative, and research experience in healthcare provides a unique solution that leverages machine learning and data analytics to revolutionize harm prevention,” says Tom Weithman, VIPC Chief Investment Officer and Managing Director of Virginia Venture Partners. “VIPC’s Virginia Venture Partners is excited to contribute to their success, and continued growth in the healthcare industry.”

VIPC’s investment in Kinometrix draws upon funds made available through the U.S. Treasury Department State Small Business Credit Initiative (SSBCI) Program.

About Kinometrix
Kinometrix empowers frontline clinicians to prevent patient harm by providing them accurate, specific, and real-time risk assessments. Kinometrix is a precision patient safety platform powered by machine learning that uses electronic health record (EHR) data to assess risk for patient harm events. Our patient fall solution K-FRAS automates fall-risk assessment and provides specific risk drivers, allowing resources and interventions to be targeted to where they are needed most. To learn more, visit https://kinometrix.com/

About Virginia Venture Partners
Virginia Venture Partners, is the equity investment program of VIPC that makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $41.8 million in capital across more than 275 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.virginiaipc.org

About Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities | VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.
Programs include: Virginia Venture Partners (VVP) | VVP Fund of Funds (SSBCI) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Petersburg Founders Fund (PFF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center |Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VIPC.org. Follow VIPC on Facebook, Twitter, and LinkedIn.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org
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