SAN MATEO, Calif.--(BUSINESS WIRE)--Today Evidation Health announced that it has closed a $15 Million funding round led by B Capital Group — a global venture fund founded by Raj Ganguly and Facebook co-founder Eduardo Saverin. Existing investors GE Ventures, AMV, Fresco Capital, and new investor Pappas Ventures also participated in the round.
The new investment will enable Evidation Health to scale its operations to meet customer demand, continue to improve its machine learning engine for large scale behavior data analytics and digital biomarker development, and extend its direct population reach.
“At Evidation Health, we enable rapid evaluation of technology-based approaches that augment or replace traditional interventions — powered by direct patient participation to prove impact in the real world,” says Deborah Kilpatrick, CEO of Evidation Health. “This financing marks our fast growth and industry leadership to drive faster, better, more cost efficient ways to quantify health outcomes in the digital era of medicine.”
Evidation Health’s software and capabilities equips companies across healthcare to design and execute clinical and economic utility studies seamlessly and quickly. It also enables partners to add and analyze new types of activity data from hundreds of clinical and consumer wearables and everyday applications. Evidation combines consumer technology and clinical expertise to ensure broad participation from diverse populations across therapeutic areas, active engagement, and convenience through direct-to-patient experiences. This results in 10x faster enrollment allowing for dramatically lower costs and highly tailored interventions optimized for specific outcomes.
Additionally, partners benefit from Evidation’s first-in-kind behavior analytics platform — already scaled to analyze billions of data points integrating real life data with traditional clinical data — allowing for breakthroughs in digital biomarker and diagnostics, “anytime-anywhere” patient reported outcomes, and measurements of disease progression.
“Value and precision-based medicine are finally becoming a reality. We see a strong need across healthcare for companies to rapidly develop, evaluate, and employ new technologies and real life data sets to better understand and manage the health of their populations,” says Raj Ganguly, Co-founder and Partner at B Capital Group. “Our investment is driven by Evidation’s proven track record with leading healthcare companies, unique data analytics capabilities, network of credible partners, and direct population access.”
About Evidation Health
Evidation Health helps healthcare companies quantify and prove value in the digital era of medicine. Evidation developed its Real Life Study Solution to accelerate and enhance outcomes research through direct-to-patient trials — virtually enrolling study participants 10x faster than traditional methods and rapidly measuring the value of digital health and traditional interventions. Evidation works across the healthcare ecosystem with top pharmaceutical companies, payers, providers, and digital healthcare companies. Evidation Health is a privately held company headquartered in San Mateo, CA. For more information, visit www.evidation.com.
