Memphis-based iScreen Vision, a pediatric vision-screening equipment and services company, has raised $4 million in a Series B funding, company leaders announced Tuesday.
The funding included $2.5 million in new money and the conversion of $1.5 million of debt. Investors included MB Venture Partners, Innova, who led the company’s Series A, and other private investors.
“Our triple-digit growth rate in sales in 2013 shows that pediatricians are responding very positively to the company’s affordable entry costs, ease of use, electronic records storage, local sales and support, and analysis by trained technicians,” said Buck Brown, CEO of iScreen Vision. “An increasing number of pediatricians recognize the need for earlier detection of childhood vision problems, including the most serious ones that are risk factors for amblyopia, the leading cause of vision loss in children.”
Added Gary Stevenson, cofounder and managing partner of MB Venture Partners, “iScreen Vision is well positioned to capture a significant share of the pediatric vision screening market with its patented cloud-based system. We believe the company has outstanding growth prospects.”
The funds will be used to expand domestic sales and launch an international footprint and to increase the company’s products and services.