The Rise Fund Leads $5 Million Series A Investment In SystemOne, The Digital Backbone For Infectious Disease Diagnostics
Investment to Accelerate linking every Diagnosis to Treatment starting with TB and HIV
October 9, 2018 - SystemOne, the leader in global disease intelligence for rapid detection and response to infectious diseases and response, today announced a $5 million Series A investment led by The Rise Fund, a global impact investment fund managed by TPG Growth. Also participating in the round was EchoVC, B&Y Venture Capital Partners and strategic angel investors. EchoVC's Eghosa Omoigui has joined SystemOne's board of directors.
SystemOne's platforms, GxAlert® and Aspect®, connect over 2000 diagnostic devices in 40+ countries, including Nigeria, Kenya, Pakistan, and Myanmar. Since its inception, SystemOne's Aspect® and GxAlert® platforms have automatically transmitted over 5 million diagnostic results, device performance data, and aggregate disease information to clinicians, healthcare ministries, and patients around the world. Instant notifications and up-to-date dashboards provide over 50,000 alerts/month about test results, disease trends, device functionality, error rates and more.
"Information technology will fuel the next leap forward in stopping the most entrenched and crippling infectious diseases across the globe," said Chris Macek, CEO of SystemOne. "Rapid and accurate movement of data will make global investments more effective, ensuring that health providers know where and when infectious diseases are happening, can get patients onto treatment and monitor outcomes."
Before SystemOne, diagnostic results could take up to several months to reach health officials and patients. SystemOne's technology connects any diagnostic device for any disease, moving results in real-time and providing health officials a single line of sight into the disease burden in their geographies. In diseases such as HIV and TB, where global funders spend $26 billion annually, such line of sight plays a critical role in optimizing investments and efforts for maximum benefit.
"We're very excited to partner with SystemOne, to help advance innovative solutions that can bring us towards the global goal of ending tuberculosis and HIV," said Yemi Lalude, Partner at TPG Growth. "The company's focus on reducing time to treatment and closing the gaps between diagnosis and treatment – and treatment adherence – can help create significant social impact and drive economic progress in countries where HIV and TB are prevalent."
The investment was sourced through TPG Growth's strategic relationship with EchoVC Partners, the leading Africa-focused seed and early-stage venture capital fund that targets early to growth-stage deals in the technology sector. This follows earlier investments in companies such as Frontier Car Group and Gro Intelligence.
The investment in SystemOne will help the company accelerate linking positive diagnoses to treatment and eventually to outcome, playing a critical role in meeting and measuring international targets for TB and HIV.
Founded in Massachusetts in 2012, SystemOne focuses on producing solutions for disease surveillance and response. SystemOne has offices in Springfield, MA and Johannesburg, South Africa. The company's new disease intelligence software, Aspect®, addresses numerous infectious diseases including Zika, Ebola, HIV, Malaria, Hepatitis C and more on a host of diagnostic devices.
To contact SystemOne, email: firstname.lastname@example.org
About The Rise Fund
The Rise Fund is the world's largest global fund committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns —what we call "complete returns." The Rise Fund is managed by TPG Growth, the global growth equity and middle market buyout platform of alternative asset firm TPG. The Rise Fund is led by a group of influential thought leaders with a deep personal and professional commitment to driving social and environmental progress. The board includes: Bill McGlashan, TPG Growth Founder and Managing partner; Bono, Jeff Skoll, Mo Ibrahim, Laurene Powell Jobs, Anand Mahindra and Pierre Omidyar. The Rise Fund's objectives align with the U.N.'s Sustainable Development Goals. The Rise Fund invests in education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and technology, media, and telecommunications companies that deliver complete returns. For more information, visit therisefund.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $13 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $73 billion of assets under management. For more information, visit www.tpg.com.