Butterfly Network, Inc.
Headquarters
Burlington, MAFounded
2011CEO / Founder
Joseph DeVivoEmployees
201-500Funding
PublicStock
BFLYProducts
1 product listedAvg. AI Score
8.1/10Website
www.butterflynetwork.com
Profile updated
About Butterfly Network, Inc.
Butterfly Network was founded in 2011 by Jonathan Rothberg to develop semiconductor-based ultrasound imaging. The Butterfly iQ probe replaces traditional piezoelectric crystal arrays with a CMOS-based ultrasound-on-chip that connects to iOS and Android smartphones for whole-body imaging at a lower price point than cart-based ultrasound systems.
The company became publicly traded in February 2021 through a SPAC merger with Longview Acquisition Corp and trades on the NYSE under ticker BFLY. Joseph DeVivo serves as CEO. Customers include hospitals, individual clinicians, and global-health organizations such as the Bill & Melinda Gates Foundation.
Headquartered in Burlington, Massachusetts with additional offices in Guilford, Connecticut, Butterfly Network employs approximately 400 people.
Financials
Dated, source-cited figures. Estimates are marked.
Products by Butterfly Network, Inc.
All products by Butterfly Network, Inc. reviewed by our AI panel of experts.
How Our Review Panel Scores Butterfly Network, Inc.
Six independent reviewer personalities assessed Butterfly Network, Inc.'s product on their own terms. They landed within 0.6 points of each other, an unusually strong consensus.
Averaged across 1 reviewed product in our catalog. Scores are out of 10.
Competitive Landscape
Who Butterfly Network, Inc. competes with, and how they differ.
Vscan Air is a two-probe (linear + phased array) wireless system sold through GE HealthCare's existing hospital imaging channel; Butterfly directly benchmarked iQ3 image quality against the Vscan Air CL in its own launch materials, making GE the most-cited direct rival.
Lumify pairs interchangeable transducers with a subscription-software model similar to Butterfly's single-subscription approach, but is sold and serviced through Philips' much larger imaging and patient-monitoring portfolio rather than as a standalone device line.
SonoSite is the long-established point-of-care ultrasound brand, selling clamshell-portable and cart-based systems as owned capital equipment for emergency and procedural use (e.g. vascular access), competing on ruggedness and specialty probes rather than Butterfly's chip-on-probe, software-subscription model.
Clarius sells a family of wireless handheld probes with a cloud-AI subscription add-on, competing most directly with Butterfly on the single-probe-plus-app model, typically at a lower up-front price than Butterfly's whole-body single-probe device.
Exo is a newer venture-backed entrant with its own custom MEMS-based ultrasound-on-chip probe and AI-guidance apps, competing with Butterfly primarily on underlying chip technology rather than an established hospital sales channel.
Company Timeline
Key milestones in Butterfly Network, Inc.'s history, with sources.
- Funding
Prices $75.6M public stock offering
Butterfly Network priced an underwritten public offering of common stock expected to raise approximately $75.6 million in gross proceeds.
news.google.com - Launch
Butterfly iQ3 launches in the US
Butterfly Network launched the Butterfly iQ3, its next-generation handheld ultrasound system built on P4.3 Ultrasound-on-Chip technology with new 3D imaging modes (iQ Slice, iQ Fan), following FDA clearance the prior month.
itnonline.com - Milestone
SPAC merger closes; begins trading on NYSE as BFLY
Butterfly Network closed its business combination with Longview Acquisition Corp and began trading on the New York Stock Exchange under ticker BFLY.
prnewswire.com - Milestone
Announces SPAC merger with Longview Acquisition Corp
Butterfly Network agreed to become a publicly traded company via a SPAC merger with Longview Acquisition Corp, valuing the combined company at an announced pro forma equity value of approximately $1.5 billion — a SPAC merger, not a traditional IPO.
prnewswire.com - Launch
Butterfly iQ+ launches
Butterfly Network released the Butterfly iQ+, the second generation of its point-of-care handheld ultrasound platform.
itnonline.com - Funding
Series D — $250M led by Fidelity at $1.25B valuation
Butterfly Network raised $250 million in a Series D round led by Fidelity, with participation from Fosun Pharmaceutical, the Bill & Melinda Gates Foundation, and Jamie Dinan, valuing the company at $1.25 billion and bringing total funding to date to $350 million.
medcitynews.com - Milestone
Butterfly iQ receives FDA 510(k) clearance
The Butterfly iQ handheld ultrasound probe, which connects to a smartphone, received its first FDA 510(k) clearance in 2017, ahead of commercial launch.
medcitynews.com - Founded
Founded by Jonathan Rothberg
Jonathan Rothberg founded Butterfly Network in 2011, with co-founder Nevada Sanchez, to build a handheld ultrasound imaging device using silicon-chip transducer technology in place of piezoelectric crystals.
en.wikipedia.org
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