Saturday, February 22, 2020
Breaking Medical Device Industry News

Komodo Health Secures $50 Million in Series C Funding

Funding Led by Andreessen Horowitz, Joined by Oak HC/FT

Saturday, February 22, 2020

Komodo Health today announced $50 million in series C funding, led by Andreessen Horowitz. Oak HC/FT also joined the round alongside previous investors including IA Ventures and Felicis Ventures. The latest investment enables 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 healthcare journeys in the US.

“Our platform is designed to drive better health outcomes for patients by harnessing the power of more than 320 million longitudinal healthcare experiences. Built on this wealth of knowledge, our technology delivers the insights needed to detect disparities in care delivery, identify interventions, and ultimately make a material difference in patient outcomes,” said Arif Nathoo, MD, CEO and co-founder, Komodo Health.

“Despite the ongoing digitization of care delivery, fragmented information and challenges with healthcare data interoperability have thwarted efforts to drive better outcomes for patients. As the company expands, Komodo’s unique platform will drive innovation across the healthcare ecosystem to reduce the burden of disease,” said Web Sun, president and co-founder, Komodo Health.

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, underpinned by the Healthcare Map, Komodo’s software-as-a-service (SaaS) technology can pinpoint geographic disparities in care delivery, and then drive intervention at the healthcare provider level to improve quality and outcomes for patients.

“By verticalizing data, data management and analytics into a full-stack technology offering, Komodo Health has quietly built a ‘living map’ of the US healthcare system that will enable all healthcare stakeholders—pharma, payors, providers and patients—to navigate our byzantine system. This is software eating healthcare access and analytics,” said Jorge Conde, general partner at Andreessen Horowitz.

“Komodo Health is positioned to achieve a vision that has vexed the industry for years – making healthcare 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,” said Annie Lamont, co-founder and managing partner of Oak HC/FT.

Seventy healthcare organizations are currently licensing Komodo Health’s platform and solutions, spanning life sciences, government agencies, patient advocacy, payers, labs, technology companies, and research groups. The company’s client roster includes 19 of the top 20 pharmaceutical companies. Komodo solutions enable organizations to address healthcare challenges ranging from cost and quality to misdiagnosis and healthcare disparities.

For example, the Cholangiocarcinoma Foundation partners with Komodo Health to help patients with cholangiocarcinoma find specialists who are most experienced treating the disease, and to educate oncologists about the mutational burden of these biliary tumors. The Foundation’s award-winning “Mutations Matter” campaign uses Komodo’s Healthcare Map to find care teams who are treating patients with cholangiocarcinoma and deliver educational information on the importance of biomarker testing, which can lead to additional treatment options for patients.

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Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc.

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