Lumiata raises $11M from Khosla Ventures, BlueCross BlueShield Venture Partners, and Intel Capital to fuel transformation of healthcare across insurers, providers and employers through predictive analytics.
Lumiata, a San Mateo, CA-based provider of AI-powered health analytics for managing cost and risk, today announced it has raised $11 million in funding co-led by Khosla Ventures and BlueCross BlueShield Venture Partners. The investment was secured under the leadership of Dilawar Syed, who was appointed CEO by the company’s board of directors in April.
The company plans to utilize the lastest round of funding to accelerate Lumiata’s deployment of next-generation health analytics, enabling health plans, providers and self-insured employers to anticipate and ensure optimal care. Sandbox Industries, Intel Capital and others also participated in the current round. This latest investment brings Lumiata’s total funding to $31 million.
Founded in 2013, Lumiata provides cost and risk analytics to health plans, care providers and employers. Lumiata has developed models to predict disease risk and onset of certain chronic conditions for over 20 million patient lives. In the first half of 2018, the company has developed cost and spend prediction models with significant demonstrated improvement in prediction. Lumiata works with major U.S. health plans and providers to manage costs and prioritize care
“With the appointment of Dilawar Syed as CEO, we have found not only an excellent and highly experienced leader, but also someone who knows how to build and grow enterprise products,” said Matt Downs, chairman of the Lumiata board of directors and Managing Director of Sandbox Industries. “Syed has already hit the ground running since joining Lumiata. In just a matter of weeks, he has led the company in securing this new round of funding and is firmly at the helm as Lumiata accelerates development of a new suite of predictive analytics products to support payers and risk-bearing entities.”