Vault RMS Closes $1.3M to Help Firefighters Reduce Cancer Risks
Vault RMS, a technology platform that tracks firefighters’ exposure to toxic substances, announced today that it has raised $1.3 million in seed financing. The funding round was co-led by Bill Miller, former chairman of Legg Mason Capital Management, and Keshif Ventures, with participation from Right Side Capital.
Vault RMS was co-founded in 2013 by Chris Memmott and Clive Savacool. Savacool served in the fire service starting in 1996, and the duo came up with the business idea when Savacool realized that his permanent respiratory damage, which had resulted from his firefighting work, could potentially have been avoided by active monitoring of his exposure levels to toxic substances.
The two subsequently developed Vault Exposure Tracker, an IoT platform that collects data about firefighters’ exposure to toxins from disparate sources, including 911-dispatch, traditional records systems, wearable devices, heat and chemical sensors, and weather APIs. According to Savacool, collecting comprehensive data like this is beneficial to firefighters when
they file for claims about work-related injuries and illness. “[We save] municipalities time and money, while getting firefighters more timely care and support.”
“By aggregating these disparate data sources, firefighters now have a far greater understanding of what their bodies are exposed to,” said Memmott, who is the company’s CEO. “We then donate the anonymized data to cancer researchers to further our mission in the fight against firefighter cancer.”
In an interview with NewsCenter.io, CEO Memmott said that Vault RMS is introducing a new offering called “Injury Report” in two months, which will be available for municipal workers across the U.S. The company’s 2016 goal is to increase the number of partnership deals with fire departments from 22 to 50.