KēlaHealth, a surgical intelligence platform, announced a $2.9 million Seed financing and milestone-based $10 million Series A financing round.
Sante Ventures and Intuitive Ventures led the financing round.
According to the company, the new funds will accelerate the expansion of its platform to hospitals and surgical partners across the United States.
A group of physicians founded KēlaHealth from Duke University Health System to reduce avoidable surgical complications. The company develops a healthcare data analytics platform that delivers physicians with patient-specific predictive insight and risk stratification to improve surgical quality and prevent complications.
The platform uses machine learning and artificial intelligence algorithms to assign patients a risk score based on their health information and medical history. It then generates intervention recommendations that help surgeons tailor the treatment plan based on the patient’s risk analysis, the company said.
According to the company, complications in surgeries are common, can have severe impacts on the patient’s health, and in some cases, can lead to death. In the U.S., 51 million surgeries are performed annually, with an average complication rate of 15%. Half of these complications are avoidable and contribute to $77 billion in wasted healthcare costs each year, the company said.
Dr. Chang, CEO of KēlaHealth, added: “Our vision is to apply the lessons learned from millions of previous surgeries for the benefit of every patient undergoing a procedure. Patients and their families, clinicians, and hospitals deserve the assurance that the risks of any surgery will be safely navigated by surgical teams with the best information available to them at every point in the surgical journey. We are thrilled to have a stellar group of surgeons, hospital centers, investors, and advisors working with us to realize the opportunity of precision surgery.”
Digital Health companies raised over $10.3 billion during the first nine months of 2020, a 43% increase in funding compared to $7.2 billion raised during the same period of last year, according to the latest Mercom report. Recently, Activ Surgical, a surgical intelligence software powered by machine learning, announced the close of a $15 million venture round.