# Butterfly Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/butterfly-network

- Industry: Medical Devices & Equipment
- Headquarters: Guilford, US
- Website: www.butterflynetwork.com
- Total disclosed funding: $250M
- Latest round: Series D (Jul 13, 2018)
- Investors on record: 3

## About

Butterfly Network, Inc. is a healthcare technology company specializing in innovative point-of-care ultrasound solutions, enhancing diagnostic capabilities for healthcare professionals through its advanced handheld devices and integrated software solutions.Founded in 2011 in Guilford, US, Butterfly Network, Inc. develops portable ultrasound devices aimed at improving patient care. Led by CEO Ashleigh Hassen, the company has undergone strategic innovations in ultrasound technology. It has received funding through multiple rounds, notably a recent GRANT of USD 5 million from the Bill & Melinda Gates Foundation in March 2022, raising a total of USD 175.00 mn since inception. The founders include Hafees Keshinro, Matt Hageman, Nevada Sanchez, and Tyler Ralston.Butterfly Network, Inc. specializes in advanced point-of-care ultrasound (POCUS) solutions, featuring products like the Butterfly iQ3™, iQ+™, and iQ+ Bladder™. These devices provide enhanced imaging for various clinical settings, integrating artificial intelligence and software for medical applications. With over 145,000 customers worldwide, including health systems and educational institutions, Butterfly's products serve markets across North America, Europe, and select regions in Asia and Latin America.In the most recent year, 2024, Butterfly Network, Inc. reported a revenue of USD 82.06 mn, with an EBITDA of USD -64.07 mn. The company generates income through direct sales and subscription models, primarily targeting healthcare institutions and professionals.Butterfly Network, Inc. plans to leverage its recent GRANT funding of USD 5 million to support 1,000 healthcare workers in Sub-Saharan Africa. The company is also focusing on expanding its product lineup with new ultrasound devices and exploring entry into additional markets in Asia and Latin America by 2025. This approach aims to enhance its global presence and impact in the healthcare sector.

## Funding rounds

- Series D, Jul 13, 2018, $250M — Fidelity Investments, Bill & Melinda Gates Foundation, Fosun Pharma

## Investors

- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series D
- Bill & Melinda Gates Foundation — Series D
- Fosun Pharma — Series D