Slowly but surely, surgical sponge detection company ClearCount Medical Solutions is marching toward completing its $5 million Series B round of funding.
The company has added a $1.5 million fund-raise to the round, pushing it over the halfway point to $2.6 million, according to a regulatory filing. Earlier in the month, ClearCount reported a $1.1 million fund-raise.
The company plans to use its Series B to further support its exclusive (pdf) distribution deal with Medline Industries Inc., which the companies first announced in December.
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The latest installment comes in the form of debt, options and other securities. It was sourced from 20 investors, according to the filing.
To date, the company has raised about $14 million. ClearCount’s $3.4 million Series A round last year was led by Pittsburgh’s Draper Triangle Ventures.
ClearCount’s SmartSponge and SmartWand systems use radio-frequency identification (RFID) technology coupled with chips embedded in sponges to allow surgeons and nurses to count and detect sponges used in operations.
