Technology

Komodo raises $44 million and acquires Mavens to bring data-driven insights to life sciences

Komodo Health, a firm that is meshing gigantic data, AI, and analytics to receive a digital scheme of the U.S. health care system, presented that it quietly secured a $44 million money injection closing year in a chain D round of funding led by Iconiq. The funding came in mid-2020, roughly six months after the firm presented its $50 million sequence C round led by Andreessen Horowitz, which returned for the sequence D.

Alongside the funding data, Komodo Health printed that it has made its first acquisition, snapping up 13-year-traditional Chicago startup Mavens to receive what it calls the first “data-driven endeavor platform for all times sciences.”

Founded out of San Francisco in 2014, Komodo ingests data from millions of interactions patients earn with the clinical alternate day after day — spanning hospitals, insurers, pharmaceutical companies, and extra — to receive a dynamic scheme of the entire health care system. By applying AI and machine discovering out (ML) tactics to the data, Komodo Health’s cloud-primarily primarily based platform can wait on fetch key insights, equivalent to why a particular demographic is extra inclined to particular diseases, or wait on biopharmaceutical companies accept patient populations to trial a brand new therapy. Komodo says it serves the majority of the tip 20 biopharma companies, which receive admission to Komodo through a tool-as-a-provider (SaaS) subscription.

Above: Komodo: Iris dashboard

Founded in 2007 by two Salesforce alums, Mavens builds tool for biotech and pharma companies, serving to them “free up the vitality of cloud expertise” to peep their merchandise through the commercialization job. Komodo primarily services “clinical affairs” teams, the other folks that wait on as the bridge between product pattern and commercialization, whereas Mavens has targeted the scheme of tool for business and patient enhance teams while also specializing in programs integration. The 2 companies offer “complementary capabilities,” as Komodo locations it, combining data, tool, and cloud computing expertise all over the life sciences spectrum.

“By infusing Komodo’s health care scheme into the extremely efficient endeavor purposes Mavens offers this day, we’re going to bring the subsequent generation of AI and ML-powered insights to enhance both provider and patient engagement,” Komodo CEO and cofounder Arif Nathoo urged VentureBeat.

Komodo Health has raised $94 million since its inception. Terms of the Mavens deal had been now no longer disclosed.

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