The US-based health data analytics platform, Evidation Health, has raised $45 million in its Series D funding led by California-based e-commerce venture services, B Capital Group. With this funding, the startup plans to use the capital in offering virtual health programs to research participants. The startup has not yet specified what it would look like, but it would offer programs to its members to help them gain ‘clinically actionable insights’ into their health.
The latest funding was participated by the new investor McKesson Ventures, San Francisco-based financial services, and Section 32, San Diego-based venture capital firm. The earlier investors, namely Revelation Partners, the US-based venture firm, Rethink Impact, the US-based financial services, and SV Health Investors, the US-based biotechnology firm.
The US-based startup can get data from wearable devices, videos, speech, and other sources. Employing these capabilities, the startup also designs virtual studies such as Johnson & Johnson’s Heartline study that tests whether an Apple watch feature is capable of detecting atrial fibrillation earlier and reduce participants’ stroke risks.
To provide sensor data, at-home diagnostics, and patient-reported outcomes, the startup has collaborated with 8 of the 10 largest biopharma companies. Evidation Health’s research app, Achievement, pays users to track sleep, steps, meals, and other health metrics. It has the ability to opt to participate in virtual clinical trials. The startup claims that 4 million people use its app.
In a news release, Evidation Health CEO Deborah Kilpatrick said that participation in research is an activator for individuals to understand better their health and proactively seek care. The very next step for the startup is to decrease the latency between action and evidence by providing virtual health programs, while still keeping consent and privacy at the forefront.
As part of that plan, the startup tapped Boston Consulting Group’s senior partner Sam Marwaha as Evidation Health’s CCO. B Capital Group senior principal Adam Seabrook will come on-board the startup as part of the funding round.
Earlier this funding, B Capital Group had also earlier invested in the startup, leading its Series B funding round in 2016.
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