Komodo Health recently announced $50 million in Series C funding, led by Andreessen Horowitz. Oak HC/FT also joined the round, along with previous investors including IA Ventures and Felicis Ventures. The funding will allow the company to create new software for life sciences, payers, advocacy groups, and provider organizations while accelerating the expansion of its Healthcare Map, the industry’s largest real-time view into health care journeys in the U.S.
“Our platform is designed to drive better health outcomes for patients by harnessing the power of more than 320 million longitudinal health care experiences,” said Komodo Health CEO and Co-founder Arif Nathoo, MD. “Built on this wealth of knowledge, our technology delivers the insights needed to detect disparities in care delivery, identify interventions, and ultimately make a difference in patient outcomes.”
Web Sun, president and co-founder of Komodo Health, added, “Despite the ongoing digitization of care delivery, fragmented information and challenges with health care data interoperability have thwarted efforts to drive better outcomes for patients. As the company expands, Komodo’s unique platform will drive innovation across the health care ecosystem to reduce the burden of disease.”
Komodo’s Healthcare Map captures insights on 15 million new clinical encounters each day from hundreds of sources. This comprehensive view of de-identified patient encounters enables customers to model the epidemiology of disease and direct resources where they are needed most. For example, Komodo’s software-as-a-service technology allows customers to pinpoint geographic disparities in care delivery and then drive information at the health care provider level to improve quality and outcomes for patients.
Currently, 70 health care organizations are licensing the Komodo Health platform and solutions, spanning life sciences, government agencies, patient advocacy groups, payers, labs, technology companies, and research groups. Its client roster includes 19 of the top 20 pharmaceutical companies.
“Komodo Health is positioned to achieve a vision that has vexed the industry for years—making health care intelligence more accessible and precise to optimize outcomes and drive down costs. Komodo is the first to facilitate a longitudinal perspective, end-to-end, across every possible episode of care as a foundation for disease predictions. They have a track record of success in rooting out inefficiencies, and we are very confident in their vision,” aid Annie Lamont, co-founder and managing partner of Oak HC/FT.
Komodo’s investors also praised the company’s level-headed leadership. “In a decade where unicorn culture has come to mean chasing valuations, massive fundraises, and a grow-at-all-costs mentality, [Komodo Health is] a remarkable counter-narrative,” wrote Felicis Ventures General Partner Sundeep Peechu. “Until this round, Arif and Web raised/spent <$20M of primary capital. For a company born in 2014, surrounded by excess capital, this is quite an exercise in discipline, which speaks to their ethos of operational excellence and having efficiency as a core value.”
“So don’t call them a unicorn,” Peechu added. “I hope their journey inspires an entirely new moniker—one that denotes a company that is relentlessly resourceful and efficient, nurtures a healthy and sustainable culture, and has incredible financial performance.”
Read the full press release here.
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