Algorithmic Intuition
- Industry
- Health Care Software
- Founded Year
- 2015
- Headquarters
- Reno, NV
- Employee Count
- 9
Key People
- Daniel Brown - CEO
- Kevin Shaw, Ph.D. - Co-founder
- Rian Sanderson - Co-founder
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The founding team comprises individuals with over a decade of experience in sensor technology and software development.
The leadership's background in sensor algorithms and embedded systems provides a solid foundation for developing innovative healthcare solutions.
- Clinical Need
-
Aspect: Very Strong
Summary: The aging population and increasing demand for eldercare solutions underscore a significant clinical need.
With a growing elderly demographic, products like CareMate that offer continuous health monitoring are increasingly essential.
- Competition
-
Aspect: Somewhat crowded
Summary: The market has several players offering eldercare monitoring solutions.
While the market is competitive, unique features and superior technology can provide a competitive edge.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing accurate and reliable monitoring devices presents moderate technical challenges.
Balancing technical complexity with user accessibility requires careful design and testing.
- Patent
-
Aspect: Applied
Summary: The company has applied for patents to protect its technology.
Securing patents can safeguard intellectual property and enhance market position.
- Financing
-
Aspect: Medium
Summary: The company has raised $13.2 million in funding.
While initial funding is substantial, further investment could support growth and market penetration.
- Regulatory
-
Aspect: 510k/PMA
Summary: The product requires regulatory approval for market entry.
Achieving regulatory approval ensures compliance and market readiness.
Opportunity Rollup
- Odds of Success
- 3.7
- Peak Market Share
- 5.1
- Segment CAGR
- 3.6%
- Market Segment
- Patient Monitoring
- Market Sub Segment
- Elderly Care Monitoring Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.26 |
| 2 | 0.76 |
| 3 | 1.78 |
| 4 | 3.57 |
| 5 | 5.10 |
Key Takeaway
Algorithmic Intuition's CareMate addresses a significant need in eldercare monitoring, leveraging advanced sensor technology to provide continuous health insights, positioning the company favorably in a growing market.