Evidation Raises $45 Million Series D, Hires CCO To Accelerate Commercial Momentum and Expand Into Virtual Health
Evidation Health has announced the close of a $45 million Series D funding round to power the expansion of its privacy-first, direct-to-person research platform, Achievement, to include virtual health. The company will use the new capital to build upon its existing evidence generation capabilities to offer real-time insights and digital tools to its network of nearly 4 million individuals.
B Capital led the funding round, which includes new investors McKesson Ventures and Section 32. Existing investors Revelation Partners, Rethink Impact, and SV Health Investors also participated. B Capital’s Adam Seabrook has joined Evidation’s board of directors, and long-time advisor Sam Marwaha, senior partner at Boston Consulting Group, will join the company as Chief Commercial Officer.
Evidation will leverage this investment to continue rapidly growing its study solutions business and offer programs that enable Achievement members to gain clinically actionable insights into their health. These programs include relevant digital interventions, treatments, and tools to help people understand and take advantage of the latest evidence, in partnership with their care teams. The company will also continue to expand and diversify the Achievement population—already the largest and most demographically and geographically diverse connected cohort in the U.S.—to serve additional at-risk and disease-specific cohorts. Achievement already includes participants in all 50 states and in nine out of 10 ZIP codes nationwide.
“Participation in research is an activator for individuals to better understand their health and seek care proactively,” said Evidation CEO Deborah Kilpatrick, Ph.D. “The natural next step for Evidation is to decrease the latency between evidence and action by offering virtual health programs, while still keeping privacy and consent at the forefront. We are especially excited to have Sam Marwaha, a pioneer in real-world evidence and an experienced digital health strategist and operator, join us to lead our commercial endeavors as the company ushers in a new era of self-activated care.”
“We see tremendous value in generating real-world data for both clinical development and commercial life sciences use cases, ensuring the best possible understanding of a population inside and outside the clinic,” said Carrie Hurwitz Williams of McKesson Ventures. “The discipline, rigor, and scale with which Evidation has built their technology makes it possible to garner relevant real-world data points and transform them into meaningful insights for pharma.”
Eight of the top 10 global biopharma companies rely on Evidation for person-generated health data (PGHD), including passive sensor data, electronic patient-reported outcomes, and at-home diagnostics.
Read the original press release here.
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