The investment will re-affirm the startup’s patient-centric approach to understand interaction with the healthcare system and offer an enhanced analytic platform
California-based health analytics start-up, Komodo Health has reportedly raised USD 220 million in Series E round, bringing the company to a total valuation of USD 3.3 billion. Notably, the funding round was led by Tiger Global, and saw participation of Casdin Capital and existing investors Andreessen Horowitz, ICONIQ Growth, and SVB Capital.
For the record, Komodo will utilize the latest funds to enhance investments in its ‘Healthcare Map’ enterprise technology solution, core data assets, and application suite. In addition to the above, its platform uses AI along with advanced data analytics to monitor encounters with the healthcare system for more than 325 million de-identified patients, becoming the industry’s largest and complete record of de-identified patient insights.
Along similar lines, the platform also offers pharmaceutical companies, healthcare providers, and other life sciences shareholders a wide range of services that are designed to help close gaps in care, meet unmet patient needs, enhance engagement, and ultimately help offer novel therapies to the industry.
According to a statement by Arif Nathoo, CEO of Komodo Health, the latest investments reaffirms the company’s patient-centric approach to understand each interaction with the healthcare system and develop a reliable analytic platform based on that foundation.
Mr. Arif mentioned that with digital adoption being rapidly adopted and new sources of healthcare insights increasing, Komodo Health allows companies to meet the demands of patients along with minimizing the disparities in medical care.
Citing reports, the health analytics startup secured USD 44 million in Series D funding in the year 2020, which was unpublicized until January 2021, and also gained USD 50 million in Series C funding round in January 2020.
Source Credit: https://www.medicaldevice-network.com/news/komodo-health/