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Carbyne raises $20M more so when death knocks, you don’t answer the door

Chaos and crisis are sisters, and none more so than when you dial for emergency help. A call to 911 in the United States and urgent numbers globally spins off a number of additional calls to emergency response teams, ambulances, hospitals and other actors who need to coordinate action to save your life. Theoretically, everyone should be working off the same data, but also theoretically, I should be able to eat ice cream without getting fat.

Israel-based Carbyne’s software platform coordinates these calls so that critical details — say, location or medical allergies — don’t get lost from the 911 call taker to the paramedic in the field.

Now, it’s taking a second scoop on its capital cone in the form of a $20 million new round, following a $25 million Series B that my colleague Ingrid Lunden reported on in January. The new funding was led by Global Medical Response, one of the world’s largest emergency medical providers who operates fleets of vehicles, trucks, helicopters and planes to get patients to hospital facilities expeditiously. GMR was founded in 2018 from a rollup of emergency services led by private equity giant KKR.

This new round was in the form of a convertible note that will convert into Carbyne’s next fundraise according to CEO and co-founder Amir Elichai. Also joining the round was Hanaco VC, Intercap VC, Elsted Capital and others. Elichai said that the round took about three weeks to fundraise and close, and was held to $20 million given the company’s earlier funding this year, which at the time we reported was “over $100 million” in valuation.

Carbyne and GMR have been partners since late 2020, and their ties are deepening. GMR COO Edward Van Horne will join Carbyne’s board of directors.

In addition to offering more advanced location services for emergency callers, Carbyne’s technology allows for callers to activate a video channel, giving emergency response personnel more live information about what’s happening. That’s critical in GMR’s business, where first responders need the most up-to-date information to increase their effectiveness.

“The ability to get smarter information, and to increase situational awareness to each case whatever it is, will give emergency medical services the ability to better triage and to make faster and smarter responses to events that occur within their jurisdiction,” Elichai explained. “So basically the entire ecosystem is becoming much more reliable and efficient, thanks to the Carbyne ecosystem that we’re putting together with GMR.”

My colleague wrote a great deep dive into the company in January, so read that for some background on the company’s founding and product and how it weathered the pandemic. A few more updates though in the past few months bear mentioning.

Elichai said that the company has doubled the recurring revenues of its business since the beginning of 2021, although wouldn’t provide those ever elusive absolute figures. The company has also expanded its employee base by 30% over the same period. Among the success stories is New Orleans, which is moving its emergency centers to Carbyne, as well as centers in Texas, Georgia and Florida. Elichai said that much of this transition was prompted by additional federal investment in 911 infrastructure appropriated in recent COVID-19 stimulus bills.

The company’s CTO and co-founder, Alex Dizengof, will move from Israel to the United States to start an R&D center.

Last week, the company announced a new “Ultra Emergency Network” that it is building with Israel Aerospace Industries that will allow phones to communicate emergency location information in post-disaster scenarios where commercial mobile services degrade or disappear entirely.

The company’s newest investment is in line with growing interest from venture capitalists in the disaster space, with more data, investments in communications infrastructure, and more dollars flowing into the space than ever before.

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