Lumeon, a digital health company specializing in care pathway orchestration, closed a $30 million Series D funding round.
The funding was led by new investors Optum Ventures and Endeavour Vision, with participation from existing investors LSP, MTIP, IPF Partners, Gilde, and Amadeus Capital Partners.
With the new funds, the company plans to extend the reach of its care pathway management platform, which is designed to help healthcare providers automate their routine clinical and administrative tasks. It coordinates the care delivery process by synchronizing disparate data across the care continuum, orchestrating, and automating care activities, and delivering relevant information to care teams and patients.
“While the markets for data analytics, clinical decision support, and patient engagement are well established, what is missing today is the ability to effectively connect them to solve the problem of personalizing care delivery in a scalable way,” said Lumeon founder and CEO Robbie Hughes. “The ‘last mile’ that turns the insight into action is the hardest part for health systems, and is the core of the Lumeon proposition.”
Lumeon, founded in 2005, has raised 80 million to date, including a $28 million round in 2018, which was led by LSP through its LSP Health Economics Fund 2. According to the company, its care management platform is currently deployed by more than 70 health systems across 12 countries.
“By coordinating processes across the continuum – from basic administrative tasks through to highly complex clinical optimization protocols – Lumeon is helping to define a new future for patient care,” said Alexander Schmitz, Partner at Endeavour Vision.
Healthcare practice management companies raised $233 million in the first half of 2020. Recently, Olive, an AI-enabled practice management solutions provider empowering healthcare organizations to improve efficiency and patient care while reducing costly administrative errors, raised a $51 million in funding. General Catalyst led the round with participation from existing investors – Drive Capital, Oak HC/FT, Ascension Ventures, and others.
Image Credit: Lumeon