Artificial Intelligence, Health Tech

Startup building ‘living map’ for healthcare raises $50M

Komodo Health raised a $50 million funding round led by Andreessen Horowitz. The software company is building up a trove of healthcare data to drive better analytics.

 

Finding good data is difficult, especially with health records locked up in disparate systems. But a San Francisco-based software company is doing just that, by pulling in and cross-linking patient data to create a comprehensive record.

Komodo Health raised a $50 million series C round led by Andreessen Horowitz. It plans to use the influx of funds to build software for healthcare companies using its trove of data.

The startup has recorded de-identified clinical data from more than 320 million patients in its system. It brings in the data and transforms it to make it usable with everything else.

“It’s taken us years to pull enough of this together to get a deep and representative view of the U.S.,” Komodo Health CEO and Co-Founder Dr. Arif Nathoo said. “Why it’s so hard, why we haven’t seen the AI revolution in medicine, is because data is trapped in all of these silos.”

Komodo Health can then use that information to track patient outcomes as they move through the health care system. It could predict patients that need to be tested for a rare disease, or pinpoint geographic disparities in treatment. For example, the startup partnered with the Cholangiocarcinoma Foundation to help patients with the rare liver cancer find experienced specialists and inform physicians about promising treatments.

In a news release, Andreessen Horowitz General Partner Jorge Conde said Komodo Health had “…quietly built a ‘living map’ of the U.S. healthcare system that will enable all healthcare stakeholders — pharma, payers, providers and patients — to navigate our byzantine system.”

Komodo Health will use the funds to continue to build out its healthcare map, as well as additional solutions using its data. It also plans to develop more partnerships with patient advocacy groups, payers, government entities and providers. Currently, 70 healthcare companies use its solutions, including 19 of the top 20 pharmaceutical companies.

“One of the greatest opportunities for us is to enable companies that have a patient population to be able to provide that population meaningful value,” Nathoo said. “We have a view that we really want to be the backbone of healthcare.”

The startup currently has 220 employees in San Francisco and New York. Nathoo said Komodo Health would hire across the company with the additional funding.

Oak HC/FT also participated in the round along with previous investors IA Ventures and Felicis Ventures. Komodo Health has raised more than $70 million in funding to date.

 

Photo Credit: wigglestick, Getty Images

 

Shares1
Shares1