A new group of investors is backing big data startup Lumiata‘s analytics platform that combines “the brilliance of physicians with the analytical power of big data” to make care more proactive, informed and efficient.
BlueCross BlueShield Venture Partners, Sandbox Industries and AmeriHealth Inc. have funneled $6 million into the company, Lumiata said today, joining Khosla Ventures as Series A investors.
The promise of Lumiata’s predictive analytics platform is that its algorithms turn data from claims, EHRs and sensors into what it calls a medical graph, with the intention of helping providers and insurers predict what patients may need and when they may need it. For providers, that can mean more efficient patient intake, triage and discharge, and better prescriptive information around symptoms, medications, risk factors and diagnoses, the company says. For payers, it offers a way to understand the medical and financial risks associated with a patient.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
“There is a large opportunity to reduce the waste and inaccuracy associated with healthcare decision-making by empowering professionals with the best medical science that is hyper personalized,” said Sandbox Industry’s managing director Matt Downs, who will join Lumiata’s board of directors, in a statement.
Formed just last year, the company says it’s working on pilot projects at several hospital networks, provider groups and health insurance companies. It’s raised $10 million to date.
