NovaSignal

What NovaSignal does

NovaSignal was a medical technology company founded in 2013 and headquartered in Los Angeles, California, that developed and commercialized AI-powered diagnostic technology for stroke and neurological conditions. The company's core product was NovaGuide, a robotic cerebral ultrasound system designed for non-invasive cerebral blood flow assessment, intended to enable healthcare providers to detect stroke and other neurological conditions more rapidly and accurately in clinical settings. NovaSignal pursued a vertical go-to-market focused exclusively on healthcare providers and hospitals, distributing its hardware devices through a direct enterprise field sales motion, supplemented by participation in medical technology conferences and industry publications.

The company funded its development through an extensive capital-raising program, completing approximately fifteen funding rounds between 2013 and 2021 that collectively raised roughly $126 million, including a $37 million Series C1 in September 2021 led by Alpha Edison and Reimagined Ventures, a $22 million Series C in 2019 led by Alpha Edison, and earlier rounds involving TCA Venture Group, JSR Limited, Tigermed, Taiyu Capital, UCLA Ventures, and non-dilutive grants from the National Institutes of Health and National Science Foundation. Revenue was generated through hardware sales of the NovaGuide diagnostic device to hospitals, with no pricing details publicly disclosed. In 2023, NeuraSignal, Inc. acquired NovaSignal's business operations, including the NovaGuide platform, and the original NovaSignal entity ceased to operate as an independent company.

Name

NovaSignal

Legal name

NovaSignal Corp.

Website

https://novasignal.com

Company type

Private

Founded year

2013

Operating status

Acquired

Headcount range

51–100 employees

Short description

NovaSignal was a Los Angeles-based medical technology company that developed NovaGuide, an AI-powered robotic cerebral ultrasound system for non-invasive cerebral blood flow assessment targeting stroke and neurological condition diagnosis at hospitals and healthcare providers.

Ownership category

akta.pro rank

Product category

Neurological Diagnostic Devices

NAICS

Surgical and Medical Instrument Manufacturing (339112), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Non-Invasive Cardiac Imaging (Echo/CT/MRI/Nuclear) (HLAKABAE)

Keywords

• Robotic cerebral ultrasound
• Stroke diagnostic systems
• Neurological ultrasound devices
• Cerebral blood flow imaging
• Clinical neurodiagnostic equipment

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Medical Device and Diagnostic Services: Revenue generated from AI-powered medical diagnostic devices and related services for stroke and neurological conditions. The company develops and commercializes medical technology products targeting healthcare providers and hospitals.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

NovaSignal developed and commercialized NovaGuide, a medical ultrasound device for non-invasive cerebral blood flow assessment. Healthcare providers and hospitals used it to detect, assess, and monitor stroke and other neurological conditions. NeuraSignal, Inc. acquired the business in 2023.

Differentiator

Problem solved

Functional benefit

Brands

• NovaGuide: The original technology platform developed by NovaSignal for stroke and neurological condition diagnosis.

Products and services

• NovaGuide Medical ultrasound device for non-invasive cerebral blood flow assessment used in stroke and neurological condition detection, assessment, and monitoring.

Quantifiable outcome

• Improved diagnostic accuracy for stroke detection

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Viz.ai: Viz.ai provides AI-powered clinical workflow and imaging solutions for stroke detection and care coordination, competing directly with NovaSignal in AI-enabled stroke diagnostics. Both target the same hospital neurology and emergency medicine buyers with AI-driven clinical decision support.
• RapidAI: RapidAI (formerly iSchemaView) offers AI-powered imaging analysis for stroke and other neurological conditions via the RAPID platform for CT and MRI perfusion. Both RapidAI and NovaSignal apply AI to accelerate and improve stroke diagnosis in hospital settings.
• Cadwell Industries: Cadwell manufactures neurodiagnostic equipment including transcranial Doppler systems used in hospital and clinical neurology settings. As a specialized neurodiagnostic device maker, Cadwell directly competes with NovaSignal in TCD and cerebral blood flow assessment.
• Neural Analytics: Neural Analytics developed a robotic transcranial Doppler platform (Lucid System) for cerebral blood flow assessment in stroke and other neurological conditions, making it the most direct technology peer to NovaSignal's NovaGuide platform before both companies evolved through acquisitions.

Broad incumbents

• Siemens Healthineers: Siemens Healthineers offers a comprehensive imaging portfolio including ultrasound, CT, and MRI used in stroke diagnosis and neurological assessment. As a broad incumbent, it competes indirectly across multiple hospital imaging modalities relevant to NovaSignal's addressable market.
• GE HealthCare: GE HealthCare is a major medical imaging incumbent with a broad portfolio of ultrasound systems, including vascular and point-of-care ultrasound used in neurology and emergency settings. Its installed base and R&D resources make it a powerful indirect competitor in cerebral ultrasound.
• Penumbra: Penumbra is a larger neurovascular company with a portfolio of stroke treatment and imaging products, including the REAL Immersive System for cerebral imaging. While broader than NovaSignal, Penumbra operates in overlapping stroke and neurovascular hospital channels.
• Natus Medical: Natus Medical manufactures neurodiagnostic and monitoring equipment used in hospitals and clinical settings, including transcranial Doppler and neurology monitoring products. It is a broader incumbent in the neurodiagnostic device category where NovaSignal competes.
• Compumedics: Compumedics designs and manufactures diagnostic devices for neurology, sleep, and brain research, including ultrasound-based blood flow measurement products. It is a broader neurodiagnostic device incumbent with overlapping technology and customer base.

Emerging players

• BrainScope: BrainScope develops AI-powered, non-invasive brain injury assessment devices for concussion and mild traumatic brain injury in emergency and clinical settings. It is an emerging player with overlapping AI-driven neurological diagnostics but a different primary clinical use case than stroke.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/novasignal
• LinkedInlinkedin.com/company/neural-analytics

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds15 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NovaSignal