Funding profile · Infusion devices

Shift Labs

A Seattle medical device company that raised about $1.2 million of priced equity on record, took $856,176 in federal money, and put an FDA cleared product into home infusion and field medicine. The filings stop in 2015. The grant record tells the rest.

$1.22MSold and offered, final Form D/A, July 2015
$1.6MSeed round as reported in the press, 2015
$856KFederal awards on record: USAID, Air Force, NIH
26Investors of record, an average of about $46,900 each

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

Rounds at a glance

When Round Amount Investors Source
2012 Indiegogo campaign $12,000 Public backers Founder interview
Winter 2015 Y Combinator Not disclosed Y Combinator Independent
Mar to Jul 2015 Seed, Rule 506(b) $1,219,500 sold of $1,219,500 offered 26, unnamed Form D/A
Jul 2015 Same round, as reported $1.6M seed Institutional and angel investors Differs from filing
2019 Total raised, as reported $1.7M Not itemized Independent
2015 to 2016 USAID, Ebola challenge $318,682 USAID USASpending
2018 to 2021 USAID, Saving Lives at Birth $271,046 USAID USASpending
Mar to Jun 2019 Air Force SBIR Phase I $49,851 US Air Force USASpending
Sep 2019 Air Force SBIR Phase II, announced $1,544,853 per an SBIR database US Air Force Not in USASpending
Sep 2022 NIH NINR Fast Track R44 $216,597 NINR NIH RePORTER

What the filings show

Shift Labs, Inc. · Form D · filed Apr 9, 2015

First sale
Mar 26, 2015
Offered
$750,000
Sold
$530,000 · $220,000 remaining
Investors
14 · average about $37,857
Minimum
$10,000
Securities
Option to acquire, plus other
Exemption
Rule 506(b)
Related persons
Beth Kolko, CEO (executive officer, director)
Issuer
Seattle WA, incorporated in Washington in 2012
Filing
SEC EDGAR, CIK 0001639079

Shift Labs, Inc. · Form D/A · filed Jul 10, 2015

First sale
Mar 26, 2015, unchanged
Offered
$1,219,500
Sold
$1,219,500 · nothing remaining
Investors
26 · average about $46,904
Minimum
$1,000, down from $10,000
Industry
Other Technology · revenue range: decline to disclose
Exemption
Rule 506(b)
Related persons
Beth Kolko, CEO, sole person listed
Filing
SEC EDGAR, CIK 0001639079

Reading the filings

  1. The round grew, and the checks got smaller.Between April and July 2015 the offering went from $750,000 to $1,219,500 and the investor count went from 14 to 26. The average per investor rose only from about $37,857 to about $46,904, and the stated minimum fell from $10,000 to $1,000. That is a lead plus a long tail of small angels, not an institutional round.
  2. The press number is $380,500 higher than the filing.Fortune and GeekWire both reported a $1.6 million seed in mid 2015. The final amended Form D reports $1,219,500 sold with nothing remaining. No later amendment reconciles the two. Convertible notes sold under Section 4(a)(2) would not appear in a Form D at all, which is one ordinary explanation.
  3. The board was one person, on paper.Both filings list exactly one related person, Beth Kolko, as executive officer and director. Co-founder and CTO Koji Intlekofer does not appear. No venture fund officer appears. Companies with a priced institutional lead usually name a fund partner here.
  4. Nothing was filed after July 2015.There is no Form D for the period covering the 2018 Option Care launch, the 2020 Hometa license or the 2021 CEO change. Either no further Regulation D offering was made, or later money moved outside Regulation D. A separate Delaware issuer named Shift Labs Inc, of Tysons, Virginia, CIK 0001921059, filed in 2022 and 2023; it is a different company and its filings are excluded here.
  5. Federal money was about 41 percent of identifiable capital.$856,176 of federal awards against $1,219,500 of filed equity. Two USAID awards and an Air Force SBIR Phase I appear on USASpending. The announced Air Force Phase II does not, under any recipient or keyword search run for this profile.
  6. The last grant left the company.NIH awarded R44NR019963 to Shift Labs, Inc. in September 2022, then recorded every subsequent year to Cove Technology Consulting LLC of Bainbridge Island, Washington, with the same principal investigator. USASpending shows the full award, $1,835,812, against the Cove name, running to February 2026. That is the clearest public signal about where the engineering went.

Commercial signals

Signal Detail Source type
Regulatory 510(k) K150687 cleared Oct 2015, K172242 cleared May 2018. Product code FLN, class II. No recalls, no MAUDE reports. Public record
Distribution Option Care Enterprises national launch after a 16 city pilot, 2018. Hometa exclusive Americas license to manufacture and distribute, 2020. Partner-stated
Revenue An SBIR company database lists a revenue range of $1M to $1.5M and 10 to 14 employees. The 2021 CEO release says revenue doubled in 2020. No audited figure exists. Company-stated
Installed base Over 200 healthcare settings, 2020. A product catalogue records 1,000 to 10,000 units distributed. Company-stated
Intellectual property Five issued US patents assigned to Shift Labs, Inc., 2015 to 2022, plus a 2020 application covering closed loop flow control. Public record
Product listing DripAssist remains listed as in commercial distribution in the FDA device identifier database. No listing exists for DripAssist Plus. Public record
Company activity No company news published since January 2022. No current FDA establishment registration was returned by openFDA searches. Not found

What to watch

  • Any Form D, or any amendment, after July 2015. Eleven years of silence is the whole story on the equity side.
  • Whether the closed loop device funded through 2026 files a 510(k), and under whose name.
  • Whether the DripAssist device listing lapses or is transferred to Hometa.
  • Any assignment of the five patents away from Shift Labs, Inc.
  • Confirmation or correction of the Air Force Phase II figure, which appears in an SBIR database but not in federal spending records.

The Shift Labs story on Healthcare DiscoveryHealthcare Discovery

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Sources

  1. Public recordForm D, Shift Labs, Inc., CIK 0001639079SEC, Apr 9, 2015
  2. Public recordForm D/A, Shift Labs, Inc., CIK 0001639079SEC, Jul 10, 2015
  3. Public recordUSASpending awards AIDOAAF1500019, 7200AA18FA00014, FA875119PA054USAID and US Air Force
  4. Public recordNIH RePORTER and USASpending, award R44NR019963NINR, FY2022 to FY2024
  5. Public recordFDA 510(k) K150687 and K172242, and the GUDID device listingFDA, 2015 to 2018
  6. Public recordUS patents 9,199,036 through 11,464,905USPTO, 2015 to 2022
  7. IndependentStartup Shift Labs wants to change how medical devices are madeFortune, 2015
  8. IndependentThis medical device startup just raised cash and is heading to RwandaGeekWire, 2015
  9. IndependentHow this healthcare outsider solved an industry blind spotGeekWire, 2019
  10. IndependentShift Labs Inc SBIR company profileinknowvation.com, updated 2021
  11. CompanyShift Labs Partners with Option CarePR Newswire, 2018
  12. PartnerHometa and Shift Labs Partner on Alternate-Site Infusion CarePR Newswire, 2020
  13. CompanyShift Labs announces Dave Anderson as CEOPR Newswire, 2021

Compiled from SEC, FDA, NIH, USAID and Department of the Air Force public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Shift Labs. This page is not an offer to sell or a recommendation to buy any security.