Last Week in Digital Health Funding: Sep 30 – Oct 6
The following companies raised funds during the past 7 days: Amboss, Cured, BurstIQ, CareStack, NOCD, Sleep Data, Nview Health, Lifted, Mon Ami, Diligent Robotics, BiomeSense, and AI Medical Service.
Berlin-based medical education platform Amboss raised €30M Series B. Founded in 2013 as an exam preparation tool for German medical students, the company has over time expanded into a global platform for doctors. Today, it is used by more than half a million students and doctors to both prepare for exams and to make more effective clinical decisions guided by evidence-based recommendations. With the new funding, Amboss will accelerate the rollout of its product globally. Also, the funds will go toward further investments in its smart guidance application to improve daily clinical decision-making for both generalist and specialist doctors. The round was led by Partech’s growth fund, with Target Global acting as a co-investor. Existing investors Cherry Ventures, Wellington Partners and Holtzbrinck Digital also participated. • read more.
Cured raised $2.5M Seed to better connect individuals and their families to care. Founded in May 2018, Cured helps bring healthcare forward by better connecting individuals and their families to care. Its platform enables healthcare organizations to better manage patient and key partner relationships in their networks, perform outreach directly to patients via the channels of their preference, and improve patient access experience and efficacy. The company will use the funding to scale its platform development and delivery capabilities to support its growing client base of top health systems and healthcare services organizations. The round was led by healthcare investor Waterline Ventures, with participation from High Alpha Capital and Matchstick Ventures. • read more.
BurstIQ secured $5.5M Series A for its HIPAA-compliant blockchain solution. The Denver-based healthcare software company provides secure blockchain solutions for the healthcare industry. It claims to be the first and only blockchain company to provide secure, HIPAA-compliant blockchain platform services for on-chain data management, complex data ownership and granular consent. BurstIQ’s proprietary platform is used by large enterprises, startups and government agencies to power identity services, interoperability, care coordination and consumer engagement programs, consumer IoT solutions, secure data access management, data marketplaces and more. The company plans to use the funds, provided by Elsewhere Partners, to aggressively expand sales, marketing and network growth. • read more.
Cloud platform for the dental industry CareStack raised $28M Series B. The India-based company has developed a complete clinical and business management platform on the cloud to manage all major functions of a dental practice. CareStack leverages analytics and automation to enhance patient experience, maximize insurance reimbursement and improve patient dental care. It plans to use the funds for automation, and to expand in firms which have dental practices in multiple locations. The round was led by hedge fund Steadview Capital, along with the California arm of Delta Dental, the largest dental plan system in the US. Also participating were existing investors — F Prime Capital, Eight Roads Ventures and Accel Partners. • read more.
Digital behavioral health company NOCD raised $4M Series A. As its name suggests, NOCD identifies and manages people with obsessive-compulsive disorder (OCD). These new venture capital partnerships will aid in the nationwide expansion of NOCD’s Provider Network, positioning them to bring effective treatment to everyone with OCD. Members receive video-based diagnostic assessments and therapy with a specially trained clinician. This integrated model was shown in an ongoing Columbia University Medical Center study to reduce OCD severity by 40% in 8 weeks, on average, while reducing provider time by 75% per patient. Led by Chicago Ventures, the round also includes 7Wire Ventures, Meridian Street Capital, and Hyde Park Angels. • read more.
Sleep Data raised $6M to accelerate expansion of its BetterNight service. San Diego, CA-based Sleep Data launched BetterNight in 2018 as the nation’s first virtual care platform to address comprehensive sleep management. The BetterNight platform delivers lower cost of care, improved outcomes, and a superior experience for the consumer. BetterNight partners with providers, accountable care organizations, clinics, employers, health plans, and consumer aggregators. Sleep Data currently serves more than 22,000 patients annually and is an industry thought leader with sixteen peer papers published to date. BetterNight will use the funding to fuel the continued market expansion of its virtual care platform which includes telehealth and remote patient monitoring for those with sleep apnea as well as a digital therapeutic solution based on cognitive behavioral therapy for those who suffer from insomnia. The growth funding was led by HCAP Partners, a San Diego-based provider of growth capital to middle market companies. • read more.
Behavioral health solutions company Nview Health raised $4.65M in Seed funding. The company delivers online behavioral health solutions that help healthcare professionals and research organizations more accurately screen for and monitor mental disorders in children and adults. Nview Health’s flagship offering, the M.I.N.I. (Mini International Neuropsychiatric Interview), is a short, structured online interview designed to identify more than 20 behavioral health disorders. Used in research and clinical settings for more than 25 years, the M.I.N.I. has been translated into 120 different languages. It has also been used in more than 100 countries and referenced or validated in 10,000+ clinical trials. The funding, provided by BIP Capital, will enable the company to fulfill its mission of bringing vital behavioral health innovation to the broader medical community. • read more.
Social care startup Lifted secured £1.5M in Seed funding. London, UK-based Lifted has built an online care management platform to connect families, carers, and staff to improve the quality of care. The platform offers tools to schedule visits, keep a check on tasks that have been completed and receive notifications when care begins and ends. The company intends to use the funds to support R&D. Said funds were provided by Zero 1, a venture builder that partners with FTSE 100 corporations to build and co-invest in new businesses to tackle the world’s biggest problems. • read more.
The company tackling social isolation in aging Mon Ami raised $3.4M in Seed financing. By pairing college students with seniors for social visits, Mon Ami’s marketplace focuses not just on life extension but life enrichment filling a much-needed gap in the senior care service industry. Families can easily connect with energetic, compassionate college students to provide companionship and friendship for a loved one. Founded on the belief that intergenerational relationships will build stronger communities, Mon Ami is creating meaningful connections with the world’s fastest growing population. It will use the funds to expand into additional cities as well as overall company growth. The round was led by Freestyle Ventures and Cowboy Ventures with participation from Maverick Ventures, Felicis Ventures, and angel investor Bruce Dunlevie. • read more.
Diligent Robotics raised $3M Seed round, launched Maxi hospital robot assistant Founded in 2017, Diligent Robotics has quickly become the leader in the social robotics space as the first company to build a robot with social intelligence and mobile manipulation capabilities that helps humans in their work environments. The investment will support the company’s launch of Moxi into its first full-time hospital customers and their continued investment in product strategy and development in both hardware and software. The round was co-led by True Ventures and Ubiquity Ventures and included investment from Next Coast Ventures, Capital Factory, Pathbreaker Ventures, Boom Capital, Grit Ventures, and additional angel investors. • read more.
Microbiome startup BiomeSense raised $2M in Seed funding. Founded in 2018, BiomeSense is developing an at-home biosensor to produce continuous gut microbiome data and a cloud-based analytics platform to turn that data into actionable clinical insights. The company provides this solution to scientists studying the microbiome, delivering dramatically more data over the course of a trial than currently available and enabling an unprecedented understanding of how short-term changes in the microbiome influence clinical outcomes. With the seed funding, BiomeSense will complete its prototype biosensor and data modeling platform in preparation for first clinical trials, scheduled for 2020. The lead investor was BioX Clan, with Seerave Foundation and SOSV also participating. • read more.
Endoscopy startup AI Medical Service secured $42.9M Series B. The company develops AI technology that brings together the wisdom of Japanese endoscopic specialists and supports endoscopic examinations of gastrointestinal organs, such as the esophagus, stomach, small intestine and large intestine. It intends to use the latest funding for the promotion of clinical trials, to further the development pipeline, acquisition of expert personnel, investment in equipment and overseas expansion. Through further development of its technology, AI Medical Service hopes to accelerate towards regulatory approval and contribute to the development of endoscopic medical care worldwide. The funding was provided by Globis Capital Partners, World Innovation Lab (WiL) and Sony Innovation Fund by IGV (Innovation Growth Ventures), as well as additional third-party allocations. • 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.