Funding profile · Respiratory remote monitoring

Spire Health

Two Form D filings put $48.2 million of equity on the public record. The company told a trade publication it had raised $70 million and was headed for a 2026 listing. Six months later it was sold for stock.

$48.25MTotal sold across both Form D filings
$38.28MSold in the Gilde-led round, 10 investors, Jul 2021
$9.97MSold in the prior round, 14 investors, Apr 2020
$70MTotal raised, company-stated to Mergermarket, 2024

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
To mid 2014 Seed, as Spire About $1.5M Rock Health, an AngelList syndicate, StartX TechCrunch
Winter 2015 Y Combinator Not disclosed Y Combinator YC directory
Apr 2020 Equity, Rule 506(b) $9,965,106 sold of $9,965,106 offered 14 investors, none named in the filing Form D
Jul 2021 Equity, Rule 506(b) $38,283,343 sold of $38,283,343 offered 10 investors. Led by Gilde Healthcare with an unnamed global medtech partner Form D and release
Early 2024 Growth capital, sought $35M target Seeking a lead at $10M to $15M. Philips and ResMed named as existing strategic investors CEO to Mergermarket
Sep 30, 2024 Acquisition by Wellinks Non-cash transaction, terms not disclosed Gilde Healthcare, Spire’s majority investor, takes a board seat Independent and company
Aug 4, 2026 Wellinks Series B, first close $10M UMass Memorial Health and inside investors Company release

What the filings show

Spire, Inc. · Form D · filed Jul 19, 2021

First sale
Jul 1, 2021
Offered
$38,283,343 equity
Sold
$38,283,343 · $0 remaining
Investors
10 · average about $3,828,000
Exemption
Rule 506(b) · no non-accredited investors
Related persons
Christopher Raanes (executive officer, director, signed as CEO); Wayne Wu (director); Geoff Pardo (director); Sean Cheng (director)
Filing
SEC EDGAR, CIK 0001810534

Spire, Inc. · Form D · filed Apr 30, 2020

First sale
Apr 15, 2020
Offered
$9,965,106 equity
Sold
$9,965,106 · $0 remaining
Investors
14 · average about $711,800
Exemption
Rule 506(b) · no non-accredited investors
Related persons
Jonathan Palley (executive officer, director, signed as CEO); Neema Moraveji (executive officer); Benjamin Yule (executive officer); Wayne Wu (director); Chris Neil (director); Chris Raanes (director)
Filing
SEC EDGAR, CIK 0001810534

Reading the filings

  1. Both rounds closed exactly full.Offered and sold are identical in each filing and remaining is zero, the signature of a priced round filed after it was papered. The 2020 round averages about $711,800 across 14 investors; the 2021 round about $3,828,000 across 10. Check size grew more than fivefold in fifteen months.
  2. The filing landed after the press release.Gilde announced the round on July 14, 2021. The Form D reports a first sale of July 1 and was filed on July 19, within the 15 day window but five days after the market heard about it. The announced figure was $38 million; the filing says $38,283,343.
  3. The founders leave the filing between the two rounds.In April 2020 the related persons are Palley, Moraveji and Yule as officers, with Wu, Neil and Raanes as directors. By July 2021 only Wu and Raanes remain, Raanes has moved from director to chief executive, and two new directors appear, one of them Gilde general partner Geoff Pardo.
  4. $70 million stated, $48.25 million filed.The chief executive told Mergermarket in 2024 that Spire had raised $70 million. The two Form D filings account for $48,248,449. The gap fits the pre-2020 history, which predates this CIK, and raises made under Section 4(a)(2) rather than Regulation D, where no Form D is required. EDGAR simply does not show it.
  5. The $35 million growth round never appears.In early 2024 the company was in market for $35 million with Match Point Partners as adviser, hoping to close by the end of April on the way to a 2026 listing. No Form D was filed after July 2021. On September 30, 2024 it was acquired instead, in a transaction both parties called non-cash, meaning the consideration was stock. A growth round that does not close and a stock-for-stock sale five months later are one event seen from two sides.
  6. The asset kept its name.Two years on, Wellinks raised its own $10 million and markets the FDA-cleared Spire Remote Patient Monitoring System as its core product. A sixth US patent, 12376792, was granted August 5, 2025 and is still assigned to Spire, Inc.

Commercial signals

Signal Detail Source type
Regulatory FDA 510(k) K192952, cleared Jun 5, 2020, Class II cardiac monitor. Exacerbation prediction is not a cleared claim. Public record
Revenue model Per patient per month, billed against Medicare codes 99453, 99454, 99457 and 99458, which require 16 days of data in 30 for 99454 and one billing practitioner per patient per period. Public record
Revenue scale No audited figure is public. The 2024 target was $35 million of annual recurring revenue by 2026. Company-stated
Distribution Redox integration announced Mar 2022, pushing monitoring data into health system EMRs. Partner-stated
Named customers Pulmonary Associates of Richmond, named on the registry record, and Pulmonary Associates in Burlingame. Wellinks added CareAbout Health in 2025 and UMass Memorial Health by 2026. Public record and company
Clinical evidence One 126 subject retrospective cohort, one 168 patient escalation review, three case reports. No randomized trial. Public record

What to watch

  • Any Form D under Wellinks for the rest of the Series B, announced as a first close.
  • Whether the Spire, Inc. CIK files again or goes quiet for good.
  • Annual CMS rulemaking on remote physiologic monitoring, which prices every enrolled patient.
  • A randomized study. Every outcome figure in use today comes from uncontrolled work with employee authors.

The Spire Health story on Healthcare DiscoveryHealthcare Discovery

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Sources

  1. Public recordForm D, Spire, Inc., CIK 0001810534SEC EDGAR · Jul 19, 2021
  2. Public recordForm D, Spire, Inc., CIK 0001810534SEC EDGAR · Apr 30, 2020
  3. Public recordFDA 510(k) clearance letter and 510(k) summary, K192952FDA · Jun 5, 2020
  4. Public recordBilling for remote patient monitoring, CPT 99453, 99454, 99457, 99458telehealth.hhs.gov · Jan 17, 2025
  5. Public recordClinicalTrials.gov NCT05518981, sponsor Spire, Inc., collaborator Pulmonary Associates of RichmondFirst posted Aug 29, 2022
  6. Public recordUS patents assigned to Spire, Inc., including 12376792Justia patent search · accessed Sep 23, 2026
  7. IndependentNew Haven-based digital healthcare firm Wellinks acquires San Francisco tech companyHartford Business Journal, David Krechevsky · Oct 1, 2024
  8. IndependentMeet “Spire”, The Wearable Breath Tracker That Calms You DownTechCrunch, Josh Constine · Jun 17, 2014
  9. CompanySpire Health closes $38 million financing round led by Gilde HealthcareGilde Healthcare · Jul 14, 2021
  10. CompanySpire CEO Michael Doyle talks to Mergermarket about raising growth equitySpire Health, reporting by Rebecca Wenzel · 2024
  11. CompanyWellinks acquires Spire Health, creating industry leader in predictive patient careWellinks · Sep 30, 2024
  12. CompanyWellinks closed $10 million Series B funding from UMass Memorial Health and inside investorsPR Newswire · Aug 4, 2026
  13. PartnerRedox and Spire Health partner to connect respiratory RPM to US health systemsPR Newswire · Mar 2, 2022

Compiled from SEC, FDA and other public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date. Healthcare Venture Capital Fund holds no position in Spire Health or Wellinks. This page is not an offer to sell or a recommendation to buy any security.