Last Week in Digital Health Funding: Oct 28 – Nov 3
The following companies raised funds during the past 7 days: Sensely, Weave, PierianDx, Winnie, Meddy, Twistle, Clarify Medical, SignalPath, Socially Determined, Curvo Labs, FundamentalVR, Mirror, Inne, and Children Health Imprints.
Insurtech firm Sensely raised $15M for its chatbot platform. The company has developed AI-enabled, avatar and chatbot-based platforms that assist insurance plan members and patients with the insurance services and healthcare resources they need, when they need it. The capital injection comes at a time when Sensely is seeing increasing demand for its platform, which uses a voice-enabled character interface, and incorporates into existing enterprise technology infrastructure. Sensely is currently deployed with enterprise customers in the United States, United Kingdom, UAE, Netherlands, China, Hong Kong, Japan, Switzerland, and Australia. Customers are using the platform for a diversified set of high-value use cases, including symptom checking, insurance underwriting, claims management, medication management, and remote patient monitoring. Aflac Corporate Ventures, the venture arm of Aflac — the largest supplemental insurance provider in the United States — led the financing. Additional new investors include NMC, Nippon Life Insurance Company, Susquehanna International Group, Sojitz Corporation, Zuellig Pharma, and Silicon Valley Bank. Existing investors Mojo Partners, Chengwei Capital, and Pegasus Tech Ventures, also participated. • read more.
Health industry customer communication platform Weave raised $70M Series D. The company is the leader in customer communication focused on the following industries: Dental, Optometry, Medical and Veterinary. It is also one of the fastest-growing privately held companies in the US, providing communication software and hardware solutions for the entire customer journey. With this round of funding, Weave plans to expand and enhance its current product offering, develop its international presence, grow its team, and continue to invest in the development of its employees. The round was led by new Weave investor Tiger Global Management, with participation from current Weave investors including Catalyst, Bessemer, Crosslink, Pelion and LeadEdge. • read more.
Clinical genomics company PierianDx raised $27M Series B. The company provides a SaaS platform that enables the practice of clinical genomics as a standard of care and empowers the world’s most advanced molecular diagnostic labs. Founded in 2014 out of Washington University in St. Louis, PierianDx is focused on advancing cancer diagnostics and making targeted therapeutics more accessible to healthcare systems, laboratories, and patients worldwide. The new capital infusion will accelerate the commercial expansion of PierianDx’s platform in the U.S. and global markets throughout Europe, Asia, Australia, Latin America, and North America. The round was led by ATW Partners and SJF Ventures and also included existing investors Health Catalyst Capital, Inova Health Systems, RTI International, and ARUP Laboratories. • read more.
Childcare, preschool platform Winnie raised $9M Series A. Winnie operates a platform that allows parents to discover local daycares and preschools and learn about their programs. They get access to detailed information like tuition information, licensing status, and parent reviews for each program. The company has expanded its comprehensive childcare data from 500 cities to over 7,000 cities, and will use the funds to continue expanding operations and its reach. The round was led by Rethink Impact, with participation from Reach Capital, Impact America Fund, Unusual Ventures, Ludlow Ventures, Afore Capital, Day One Ventures, Kairos, and April Underwood (former Chief Product Officer at Slack). • read more.
Gulf region doctor booking company Meddy raised $2.5M Series A. Founded in 2016 in Qatar, Meddy allows patients to find doctors (and hospitals) and book appointments with them through its web-based platform. The doctors can be searched using different filters including their specialization/sub-specialization, treatment, nationality/country of education, and the languages they speak. The platform also features reviews and ratings for the doctors listed on its platform… Currently the largest platform of its kind in Qatar, Meddy had expanded to UAE last year by launching in Dubai and Sharjah, and now plans to expand its services to Abu Dhabi and across all the countries in GCC. New York City-based Modus Capital lef the round with participation from Turkey’s 212, Qatar Science & Technology Park, Abu Dhabi-based Kasamar Holdings, a healthtech angel Dharmendra Ghai, Innoway and some other investors. • read more.
Patient engagement company Twistle raised $16M Series A. Founded in 2011, Twistle is a healthcare technology company that helps organizations deliver personalized care to patients in their homes by automating everything from routine communication to information gathering and education activities, saving time for care teams while improving outcomes. Twistle’s platform automatically checks in with patients and based on their responses, guides them to a better outcome by delivering follow-up information, questions, and empathetic messages…The company will use the funds to accelerate expansion in the provider and life sciences markets, and fuel innovation with a focus on human-assisted automation that enables those organizations to continuously improve patient care… The round was led by Health Enterprise Partners (HEP) and MemorialCare Innovation Fund (MCIF). • read more.
Clarify Medical raised $18M Series A to commercialize its connected home phototherapy system. Clarify Medical is a private San Diego-based medical device company focused on developing innovative technology, products and services that improve care for people with chronic skin conditions. The Clarify System, cleared by FDA in 2017, is indicated for localized phototherapeutic treatment of dermatologic conditions such as psoriasis, vitiligo, atopic dermatitis (eczema), seborrheic dermatitis and leukoderma on all skin types (I-VI). It is the first and only connected phototherapy system that uses an app on the patient’s own smartphone to manage the dose, frequency, and duration of UVB light therapy, helping to ensure that patients receive the proper doses recommended by the American Academy of Dermatology and Vitiligo Working Group. The company will use the funds for the commercialization and further development of the Clarify System. The funds were provided by H.I.G. BioHealth Partners, 7wire Ventures, SV Health Investors, and Bluestem Capital. • read more.
Clinical trial tech startup SignalPath raised $18M Series B. SignalPath is the premier clinical trial technology partner for research sites and sponsors, focused on improving the ease and efficiency of trial execution and management. Supporting over 2,500 trials across 250 sites and 3,000 active users, SignalPath is the industry standard that addresses key pain points in the conduct of trials. The funding will prepare for the upcoming launch of SignalPath’s technology-enabled hybrid clinical trials across its research footprint. The round was completed by existing investors with a total raise of capital to date of $35M. • read more.
Healthcare analytics company Socially Determined raised $7.3M in Series A. Socially Determined is a healthcare analytics company focused entirely on the science and measurement of the social determinants of health (SDOH). SocialScape, the company’s flagship analytics product, quantifies SDOH risk and delivers unprecedented insights into how SDOH impact cost, utilization, and outcomes. Using advanced analytics, proprietary algorithms, and machine learning models, Socially Determined offers a comprehensive approach to uncover SDOH risk and change the way healthcare organizations address critical social issues. The company will use the new capital to further develop and scale the SocialScape platform, invest in top talent, and build out sector-specific sales and marketing programs. Investors include Ziegler Link-Age Funds, ProMedica, 3M, OSF HealthCare, and LRVHealth. • read more.
Clinical spend management tech firm Curvo Labs raised $2M Series A. Founded in 2013, Curvo Labs offers a unique technology platform for strategic clinical spend management that equips hospital supply chain leaders and CFOs with the ability to reduce costs while maintaining quality. The company, which has seen revenue growth of over 5X since its last funding round in 2017, will use the funds to expand the leadership team and further develop the product offering. The round was led by Snake Run Capital and Elevate Ventures. • read more.
VR health tech firm FundamentalVR raised $5.6M Series A. The company has created the Fundamental Surgery virtual reality-enabled education platform, a surgical simulation software system that uses HapticVR, which combines VR with the sense of touch. It will use the funds to continue to expand the global deployment of the current platform and develop additional capabilities and technologies. Downing Ventures led the round, with participation from Epic Private Equity and Brighteyes Ventures, as well as medical institutions — including the Mayo Clinic and Germany’s Sana Kliniken. • read more.
Interactive home gym maker MIRROR raised $34M Series B-1. The company has developed the world’s first nearly invisible, interactive home gym featuring live and on-demand fitness classes in a variety of workout genres. MIRROR is creating a new category of in-home fitness with cutting-edge hardware, responsive software, and best-in-class content that transforms any room into a complete home gym. It will apply new funding resources to fuel continued momentum, as well as expand into new areas and content verticals. The round was led by Point72 Ventures, with participation from lululemon, LionTree LLC, Spark Capital, Lerer Hippeau and a number of angel investors including Karlie Kloss, Kevin Huvane, and Steve Lockshin. This brings MIRROR’s funding to date to $72 million. • read more.
Berlin-based femtech startup Inne raised €8M Series A, came out of stealth. The company has developed a hormone-tracking solution for fertility and natural contraception that’s slated for launch in Q1 next year. Inne’s first product is a natural contraceptive without side effects, featuring a biosensor and reader as well as the connected app. The device will be available later this year, having achieved medical certification in Europe. The round was led by Blossom Capital, with participation from Monkfish Equity and notable angel investors such as Taavet Hinrikus, co-founder of TransferWise; Tom Stafford, managing partner at DST; and Rolf Schromgens, Trivago co-founder. • read more.
Singapore-based neonatal-clinical care company Child Health Imprints raised $2.4M in pre-Series A. The company is currently running 25 NICUs (neonatal intensive care units) across hospitals in India including Apollo Hospitals in four cities, New Delhi’s Sir Gangaram Hospital. It will use the funds to expand its integrated (NICU) care services in India, and abroad including Indonesia, Japan and South Korea. The round was led by HealthXCapital, a healthcare-focussed investor, with participation from Enterprise Singapore’s Seeds Capital and high net worth individuals. • read more.
Please note that this list represents only the digital health deals that caught our eye in the past 7 days. There may be other deals we are not aware of or those which we don’t think fit the “digital health” category.