Canopy, which provides connected safety platforms for U.S. health systems, has closed a $22 million Series B financing to accelerate growth of its location-based safety and operational tools. The round was led by 111° West Capital and ACME Capital, with participation from existing investors, as the company positions itself as a foundational alternative to what it describes as fragmented point solutions across hospital campuses.
The San Francisco-based company said its platform now protects more than 300,000 healthcare workers across 60 major U.S. health systems, supported by deployments spanning over 1,200 buildings, including acute care facilities, outpatient centers, and parking structures. Canopy’s pitch centers on “safety first” adoption—using workplace safety as the entry point for broader location intelligence and operational workflows, including real-time situational awareness, asset management, and workflow optimization.
Canopy said health systems are using its technology to improve staff protection and response. Boston Children’s Hospital and University of Michigan Health–Sparrow were cited as examples of institutions where the platform has been deployed, with Canopy emphasizing immediate utility relative to traditional RTLS and asset tracking initiatives that can be slowed by cost, complexity, and reliability concerns.
The financing was described as oversubscribed and comes as Canopy highlights rising concern around workplace violence in healthcare. The company said it is using its installed “Location ID” network as the backbone for an expanded suite of operational tools, including products branded Canopy Find and Canopy Track.
Alongside the funding, Canopy appointed Bharat Sundaram to its board. Sundaram is currently CEO of Hallmark Healthcare Solutions and previously held senior leadership roles at Vizient and MedAssets. Canopy said the board addition brings experience scaling healthcare technology businesses, including prior board roles at Vocera and Kaufman Hall.
Canopy said proceeds will be used to expand its workforce safety technology to more healthcare workers nationally and to accelerate rollout of Canopy Find and Canopy Track, with the goal of improving operational efficiency, patient experience, and quality of care.
KEY QUOTES:
“From the beginning, we saw safety not just as a workforce issue, but as fundamental to quality care delivery. By building our foundation on safety—the most critical requirement for a high-functioning healthcare environment—we’ve created the Location Intelligence Platform that many leading health systems now rely on. This funding validates that approach and enables us to scale responsibly.” “Investor interest exceeded our expectations because the results are undeniable. We built Canopy to address safety at its core so clinicians can focus on patient care. This funding allows us to continue that mission while expanding our impact as the standard for connected healthcare environments.”
Shan Sinha, CEO and Co-Founder, Canopy
“The adoption of Canopy’s technology and platform at Boston Children’s Hospital has been a significant advancement in how we protect our staff. We’ve seen faster response times and fewer security disruptions, delivering immediate peace of mind to our staff.”
Lisa Abbott, CHRO, Boston Children’s Hospital
“Implementing Canopy’s discreet duress buttons at UM Sparrow had an immediate impact on staff safety. In the first six days alone, the system managed 18 incidents. This is the kind of forward-looking solution every health system needs to meet the realities of the modern care environment. Canopy is advancing hospital connectivity and safety.”
Chris Nemets, Regional Chief Nursing Informatics Officer, University of Michigan Health–Sparrow
“Canopy is a true category leader that has proven it can deploy at scale in complex hospital environments. By transforming a safety solution into critical infrastructure for tracking and operations, Canopy is delivering the modernization that healthcare desperately needs. This is more than just protection; it is operational intelligence.”
Andrew Brooks, M.D., FAAOS, Co-Founder and Managing Partner, 111° West Capital; Co-Founder and Chief Medical Officer, TigerConnect
