Openwater
Overview
Openwater is a pioneering medical technology company that focuses on developing diagnostic and therapeutic tools to treat diseases at the cellular level. Founded in 2016 by Mary Lou Jepsen, a former executive at Google and Meta, Openwater is based in San Francisco, California. The company has raised $100 million in funding from investors including Plum Alley Ventures, Khosla Ventures, and BOLD Capital Partners. Openwater employs cutting-edge technologies integrating light, sound, and electromagnetic fields to provide innovative healthcare solutions.
Recent Developments
- August 2024: Openwater raised $54 million in new funding, bringing its total to $100 million. This funding round was led by multiple investors including Plum Alley Ventures and Khosla Ventures. The company plans to use this infusion to advance its technology and market reach. The platform's open-source nature aims to simplify and expedite FDA approval processes for medical devices.
- July 2024: In the G2 Summer Report, Openwater received accolades for its application and review software platform, earning badges in the Awards Management category for its innovation and ease of use.
- February 2024: Openwater provided strategic consulting to Pfizer's immuno-inflammatory business unit, utilizing storytelling techniques to drive engagement and realignment within the team, fostering a cultural turnaround that resulted in substantial economic and team outcome improvements.
- 2023-2024: Preclinical studies have demonstrated the platform’s efficacy, such as shrinking glioblastoma tumors in mice and treating depression in humans. Collaborations with academic institutions continue to validate its potential across multiple fields of medicine.
- 2023: Openwater's technology, featuring high-resolution imaging and targeted treatment capabilities, has been showcased to selectively target and destroy harmful cells without affecting healthy tissue.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2016 |
| Headquarters | San Francisco, California, United States |
| Founders | Mary Lou Jepsen |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Plum Alley Ventures, Khosla Ventures, BOLD Capital Partners |
| Industry | Medical Technology |
| Number of Employees | Approximately 25 |
Early History
Openwater was founded in 2016 by Mary Lou Jepsen, who leveraged her expertise in optoelectronics and consumer electronics. Initially, the company's mission centered around developing non-invasive diagnostic tools to replace traditional imaging methods like MRI. By integrating semiconductor physics with holographic projection and advanced imaging techniques, Jepsen aimed to provide an affordable, high-resolution diagnostic alternative. Her personal experiences as a brain tumor survivor significantly influenced the company's focus on accessible healthcare innovations. The company's technology quickly gained the attention of venture capitalists, securing early funding rounds that enabled further research and development.
Company Profile and Achievements
Openwater operates in the medical technology industry, specializing in the development of revolutionary imaging and therapeutic devices. The core of Openwater’s technology lies in its ability to integrate infrared imaging, ultrasound, and electromagnetic fields to visualize and treat diseases at the cellular level.
- Business Model: Openwater adopts an open-source framework, which markedly reduces the time and costs associated with bringing medical devices to market, potentially lowering it from 13 years to approximately 3 years.
- Key Achievements:
- Successful funding rounds with prestigious investors.
- Preclinical studies showing promise in glioblastoma treatment and depression therapies.
- A strategic partnership with leading universities to validate the technological capabilities.
- Milestones:
- 2020: Initiated collaborations with major research institutions.
- 2023: Showcased technology capable of non-invasively treating diseases effectively.
- 2024: Secured additional funding to expand operational capabilities globally.
Current Operations and Market Position
Currently, Openwater continues to build on its foundational technologies by collaborating with research institutions and healthcare providers. The company is poised to transform the diagnostic and therapeutic landscape by offering tools that provide non-invasive, precise, and affordable healthcare solutions. While still pre-revenue, Openwater is gearing up to generate revenue streams through upcoming clinical trials and the introduction of its hardware products. The emphasis remains on leveraging consumer electronics manufacturing methods for efficiency and cost-effectiveness, underpinning a market strategy geared towards rapid scalability and affordability.
Conclusion
Openwater stands at the forefront of medical technology innovation, driven by a mission to make advanced, affordable, and accessible healthcare a global norm. With significant backing from renowned investors and the visionary leadership of Mary Lou Jepsen, Openwater is set to revolutionize how diseases are diagnosed and treated at the cellular level. The future trajectory of Openwater is promising, with plans to integrate its technologies into widespread clinical applications and expand its influence in the global healthcare market. The company's approach could significantly impact healthcare accessibility and cost, positioning it as a leader in technological medical advancements in the coming years.