What You Should Know:
- Medable, Inc., a Palo Alto, CA-based global platform for decentralized clinical trials today announced $78M in new funding to fuel advances in the delivery of digital and decentralized clinical trials, accelerating the industry’s shift to patient-centered drug development. The funding was led by Sapphire Ventures, along with new investor Obvious Ventures and follow-on investment from existing investors GSR Ventures, PPD, Inc., and Streamlined Ventures.
- This is
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7wireVentures & EHIR Partner to Accelerate the Adoption of Digital Health Solutions
What You Should Know:
- 7wireVentures, an early-stage digital health venture capital firm, and Employer Health Innovation Roundtable (EHIR), a coalition of the largest and most progressive employers, health plans, and health systems are announcing a partnership to accelerate digital health innovation and improve consumer health, wellness, and productivity.
- Together, the two organizations will facilitate partnerships between emerging digital health companies and EHIR’s blue-chip
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Led by Sequoia, Benchling Raises $200M to Accelerate R&D Cloud Platform
- Today Benchling, the leading life and sciences R&D cloud, announced a $200M Series E raise led by Sequoia Capital Global Equities and joined by Altimeter Capital, Byers Capital, and Elad Gil. This funding will be used to aggressively invest in product development and global expansion to support enterprise customers. The raise is also joined by existing investors Thrive Capital, Benchmark, Menlo Ventures, Alkeon Capital, ICONIQ, Lux Capital, Spark Capital, and Lead Edge Capital.
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OpenLoop Raises $3M to Expand Digital Health Marketplace for Clinicians
What You Should Know:
- Techstars-backed OpenLoop raises $3M in funding to expand digital health marketplace to connect certified clinicians to telehealth opportunities.
- The company plans to use the funding to This financing enables OpenLoop to expedite the development of their marketplace technology and grow their team of experts.
OpenLoop, a Des Moines, Iowa-based virtual health company based in today announced their oversubscribed seed round financing of $3 million led by an
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Komodo Health Launches Next-Gen AI to Accelerate Innovation and Close Gaps in Care
What You Should Know:
- Today, Komodo Health is capping off a month-long flurry of activity by announcing the launch of its Prism and Sentinel solutions — opening up access to its Healthcare Map to drive the next generation of AI innovation.
- Prism and Sentinel allows life sciences teams to tap into detailed patient behaviors and treatment patterns based on the real-world patient journeys of more than 325 million patients. The breakthrough software also allows life sciences teams to
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Vericred Nabs $23M for API Platform Exchange for Health Insurance & Employee Benefits
What You Should Know:
- Vericred, the data services platform powering digital quote-to-card experiences in health insurance and benefits, announced $23M in Series B funding led by Aquiline Technology Growth with participation from new investors Echo Health Ventures, MassMutual Ventures, Guardian Strategic Ventures, and existing investors Riverside Acceleration Capital, FCA Venture Partners and First Health Capital Partners.
- The company plans to use the new capital to expand its teams in
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Olive Acquires Surgical Analytics Platform Empiric Health – M&A
What You Should Know:
- Olive AI, the company delivering innovation to healthcare through artificial intelligence (AI), today announced the acquisition of Empiric Health, an AI-powered clinical analytics company that focuses on identifying unwarranted clinical variation, improving patient outcomes and increasing the affordability of surgery.
- Empiric's technology was initially developed at Intermountain Healthcare. In 2017, Intermountain Ventures spun out the Empiric technology and
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Q1 2021 Health IT/Digital Health PC/VE, M&A, IPOs/ SPACs Activity
The first quarter of 2021 has been one of investor optimism as the vaccine rollout continues ahead of expectations and economic activity begins to accelerate in response. Within the Health IT industry, the already strong investment and M&A trends seen in 2020 have only accelerated. Over the course of the quarter, we observed $7 billion in private equity and venture capital investment across 158 companies.
By comparison, Q1 of 2020 saw $3.2 billion and 127 investments. Health IT
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M&A: Microsoft Acquires Nuance for $20B to Accelerate Healthcare Cloud Strategy
What You Should Know:
- Today, Microsoft Corporation (Nasdaq: MSFT) and Nuance Communications, Inc. (Nasdaq: NUAN) announced they have entered into a definitive agreement under which Microsoft will acquire Nuance for $16B. Financial terms of the all-cash deal details Microsoft paying $56 per Nuance share, a 23% premium over Friday’s closing price with a total value including debt at $19.7 billion.
- Microsoft’s acquisition
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AWS Launches Next Phase of Diagnostic Development Initiative
What You Should Know:
- Today, Amazon Web Services (AWS) launched the next phase of Diagnostic Development Initiative and expanded funding scope.
- In the first phase of the initiative, AWS has supported 87 organizations to date through this effort ranging from startups, nonprofits, research institutions, and businesses in 17 countries and awarded $8 million in computing credits and customized expertise from AWS Solutions
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