Thursday, February 16, 2023

MDClone scoops up $63M for health data startup and more digital health fundings

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Health data company MDClone announced a $63 million Series C funding round. This news comes two and a half years after the Israeli company announced its $26 million Series B. Warburg Pincus and Viola Growth led the round, with participation from aMoon, LightSpeed Venture Partners and OrbiMed.

The startup has created a self-service data analytics platform designed to help health systems access and organize their data. The system is made to help clients find data insights that help with medical research and patient outcomes.

Clients are able to ask the platform to create patient cohorts, grouping patients together by any event on a patient’s timeline. The platform also lets users see productivity over time. It can also use synthetic data to share information from other organizations. 

The company plans to expand its services into new regional markets and expand its platform. It is also looking to include new markets in the life sciences and real-world evidence space.

“We’ve been looking to invest in the digital health space for a while and were fascinated with MDClone and the immense opportunity it brings to the healthcare system by democratization of healthcare data without the risk of exposing individuals’ data. The company has shown great progress in the past year and an even bigger vision that we believe can transform the way doctors around the world can treat patients and improve care,” said Eran Westman, general partner at Viola Growth.

Health benefits navigation tool Nayya announced a $55 million Series C funding round led by ICONIQ Growth. This news comes less than a year after the New York-based company closed a $37 million Series B round

The platform is focused on helping employees choose their insurance plans and then best use the plan. It uses AI and data science to help give users personalized recommendations for plan selection. It also assisted users in figuring out the best ways to save money. 

The company plans to use the infusion of cash toward product innovation and new partnerships. 

“In the last two years, there has been a dramatic uptick in anxiety, loneliness and depression amongst countless individuals, drastically altering the lives of workers across industries,” Sina Chehrazi, cofounder and CEO of Nayya, said in a statement.

“That’s why it’s so essential for organizations to offer quality, personalized benefits and coverage plans to empower a dynamic, creative and engaged workforce. This investment is a vote of confidence in our mission to make the healthcare and benefits experience clearer, quicker, kinder, much more beneficial and economical.”

Synapse Medicine, a French startup focused on helping doctors prescribe the best medication, scored $28 million in a funding round led by Korelya Capital, with participation from XAnge, MACSF and BNP Paribas Development. This new investment brings the company’s total raise to $40 million. 

The company’s platform gives clinicians up-to-date independent information on medications. It also helps to coordinate care with other prescribers. The service comes with a personal assistant that lets users analyze their prescription and search for drug labeling. It also helps patients communicate with doctors. 

The new investment will go towards scaling the platform in the U.S. and Europe. 

Full stack Canadian digital health company Curv Health announced a C$5.1 million seed financing round led by iGan Partners and Build Ventures. Kale Investment Fund, Globalive Capital and NewFund Capital also participated in this round of funding. 

Patients are able to tap into Curv for care navigation services and care plan management. Curv works with employers and health insurance companies to help link up members and healthcare providers. The company works in physical, nutrition and mental healthcare.  

“At the core of the Curv platform are a suite of digital tools that act as the ‘connective tissue’ between service providers and clients. These tools enable new care pathways that use automation to reduce the resources needed to help produce optimal outcomes,” said Shea Balish, CEO of Curv Health.

“In parallel, these efficient care pathways help independent health providers rapidly grow their practice and revenue.” 

Curv plans to use the money for product development and to hire for new roles.

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