Komodo Health, an AI-based healthcare startup, has raised $50 million in its Series C funding round. Andreessen Horowitz, America’s venture capital firm, has led the round with the participation of Oak HC/FT and Komodo’s prominent investors IA Ventures and Felicis Ventures.
The recently raised funding will help the startup to achieve its digital health mission by leveraging the ‘living map’ to accelerate healthcare with more effective drug development and spreading healthcare awareness all over the country.
Komodo Health is planning to use a large portion of the capital to build advance software for healthcare companies using its pile of information and research. It also wishes to widen its network by initiating a partnership with patient advocacy groups, government entities, payers, and providers.
Founded in 2014 by Arif Nathoo and Web Sun with the motive of reducing the diseases on a global level with the help of a healthcare living map, which answers clients’ and partners’ healthcare questions. Komodo collects data from the host of medical industry sources like pharmaceutical companies, hospitals, insurers, and other medical firms across the US by using AI to examine the most useful mass. This analysis will help doctors and medical researchers to understand more about patient demographics that why certain cases have worse health outcomes.
Web Sun, Komodo co-founder and the president, says that he hopes Komodo’s healthcare technology will stand with Amazon Web Services for health care, someday. Amazon Web Services is the platform that is open for every individual, aspiring everyone to do what they’re doing.
Currently, 70 healthcare organizations are using Komodo Health’s AI technology solutions, including 19 out of 20 top pharmaceutical companies. It has a total of 220 employees. Besides Komodo’s CEO, Arif Nathoo wishes to hire more employees with additional funding. The startup has raised more than $70 million to date.
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