Epsilon Imaging closes in on $4M Series B round

Epsilon Imaging is landing more and more investment and the startup is close to closing on a sizable seed round. The Ann Arbor-based company recently landed a $250,000 investment from Automation Alley's Pre-Seed Fund, which is part of more than $3 million it has raised for a Series B round. It is aiming to raise $4 million, a goal that is within the firm’s grasp. "There is a small amount left," says Eric Sieczka, CEO of Epsilon Imaging. "We expect to have it closed out by the end of January." Epsilon Imaging's principal product is EchoInsight, an ultrasound for cardiac imaging that quantitatively measures the strength and weakness of the heart's muscles. The technology helps medical staff analyze and interpret echo studies for cardiac patient care. The company has been closing on sales since last summer. EchoInsight is now available in 35 hospitals across the U.S. and abroad. "We have been expanding into Europe as well," Sieczka says. Which has required Epsilon Imaging to hire more staff. It has brought on two new employees (in sales and software development) over the last year and currently employs nine people. More hires are expected in 2014. "We have lots of business coming at us so we need more sales people," Sieczka says. "We have a lot of business in the pipeline so we need more bodies to pull it through." Source: Eric Sieczka, CEO of Epsilon Imaging Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.