Dina, an AI-powered care coordination platform, closed a $7 million Series A funding round.
Philadelphia-based Osage Venture Partners led the funding round with participation from First Trust Capital Partners, existing investors, and strategic partners.
The company plans to use the new funds to develop its care coordination platform further. “We are seeing both hospitals and insurers accelerate their investments in products to monitor, manage, and deliver care at home,” said Dina CEO Ashish V. Shah.
“Our digital platform brings together several important aspects to deliver care-at-home models: a network of the very best home-based and post-acute providers, real-time collaboration tools, remote patient monitoring capabilities, and actionable home-based insights to facilitate clinical interventions and address the non-medical and social determinant needs of an individual.”
According to the company, the new investment will also support the development of its new digital care pathways that help monitor and manage individuals with chronic conditions like congestive heart failure, chronic obstructive pulmonary disease, and other diseases.
In 2017, Dina raised $4 million in Seed funding. Including the latest funding round, the company has raised over $12 million to date.
“Covid has accelerated our expansion to support care at home for seniors, along with many other people facing similar challenges managing chronic conditions, battling social determinant issues, and struggling with social isolation,” he said. “The message we hear across the industry is that the home is now the most important care setting,” added Shah.
The Dina platform includes a real-time messaging capability paired with care coordination workflow: care transitions, referrals, DME orders, health plan authorizations, longitudinal patient tracking, and family caregiver engagement.
In 2020, Digital Health companies raised $14.8 billion, a 66% increase compared to $8.9 billion in 615 deals in 2019, according to the latest Mercom Digital Health Funding report.