Komodo Health, an AI-enabled data analytics software platform for healthcare providers, acquired Mavens, a provider of a data-driven enterprise platform for healthcare and life sciences companies.
The terms of the deal were not disclosed.
“Customers will benefit from our cloud-based enterprise platform that offers access to a suite of software solutions powered by our industry-leading Healthcare Map,” said Web Sun, Komodo Health’s president and co-founder.
According to Komodo, the companies plan to expand their software capabilities, powered by insights from Komodo’s Healthcare Map, which tracks more than 320 million de-identified patients, delivering alerts on clinical activity to ensure customers’ timely communications with healthcare providers and allowing users to have a deeper understanding of the clinical marketplace.
“We are excited to join forces with Komodo Health to create a next-generation solution for the industry,” said Prasad Kanumury (PK), founder and CEO of Mavens. “Together, we will transform the way life sciences companies support patients and providers, ultimately reducing the burden of disease across the globe. This raises the bar and changes the expectations of the entire healthcare ecosystem.”
In 2020, a total of 184 digital health companies were acquired/merged compared to 169 in 2019, a 9% increase in deal activity. In one of the largest digital health M&A transactions ever, Telehealth provider Teladoc Health has agreed to acquire Livongo Health, a developer of cellular-connected blood glucose meter and app for diabetes management, the deal valued at $18.5 billion.
Komodo Health also announced that it had raised $44 million in Series D funding led by ICONIQ Growth, with participation from Andreessen Horowitz, Oak HC/FT, IA Ventures, Felicis Ventures, and McKesson Ventures.
Including the latest funding round, Komodo Health has raised over $100 million to date.
“We have long admired Komodo’s achievements, and we believe the company’s unique approach has finally linked robust patient journey data with crucial workflows to achieve greater efficiency and better outcomes in healthcare,” said Caroline Xie, General Partner, ICONIQ Growth. “With the acquisition of Mavens, Komodo extends its strategy deeper into the life sciences enterprise and remains well capitalized to accelerate its impact across the entire healthcare ecosystem.”