Concerto HealthAI Raises $150 million in Series B Financing

Concerto HealthAI, a provider of enterprise artificial intelligence and real-world data solutions for precision oncology, raised $150 million in aggregate Series B financing.

Declaration Partners, an investment firm backed by the family office of David M. Rubenstein, the Co-Founder of The Carlyle Group, led the financing round, with participation from AllianceBernstein PCI, Maverick Ventures, and SymphonyAI Group.

As part of the investment, Andrew Goldfarb, partner at Declaration Partners, and Leif Pedersen, senior operating partner at SymphonyAI Group, will join Concerto HealthAI’s board.

The latest funds will support the company’s continued innovation in real-world data and technology products and services for regulatory and non-regulatory applications, expansion into adjacent therapy areas, and commercial patient solutions.

Concerto claims 90% year-over-year revenue growth for its business and paired the funding announcement with the launch of Concerto HealthAI a new version of eurekaHealth that combines integrated real-world data and machine learning. The company aims to transform healthcare by transforming clinical research models, accelerating insights benefitting patients, and introducing technology solutions that support patient treatment.

“The significant commitment and life sciences expertise of our investors validates and accelerates our strategy,” said Jeff Elton, PhD, CEO of Concerto HealthAI, in a company press release. “This investment underscores the amazing team and talent we have brought together with a common purpose of advancing Precision Oncology solutions for the most devastating cancers based on our engineered RWD, AI-enabled technologies, and advanced scientific services.”

Similar technologies that received funding

Strata Oncology, an online precision oncology platform that provides large-scale molecularly-informed clinical research for health systems, secured $26 million.

Precision Health AI, an AI-enabled oncology platform for pharmaceutical companies and healthcare providers, raised $20 million.

Oncora, a precision medicine company that helps doctors and scientists with analytics tools to develop the optimal cancer treatment plan for each patient, received an investment from Varian.