Komodo Health, an AI-enabled data analytics software platform for healthcare providers, announced a $220 million Series E funding round led by Tiger Global Management and joined by Casdin Capital.
Existing investors ICONIQ Growth, Andreessen Horowitz, and SVB Capital also joined the round.
According to the company, the additional funding will allow it to accelerate investment in its enterprise technology platform, application suite, and core data assets.
Komodo Health’s real-world data and analytics platform pairs the complete view of patient encounters with enterprise cloud technologies that connect the dots between individual patient journeys and large-scale health outcomes, the company said.
The company’s Healthcare Map provides a complete record of de-identified, real-world patient insights. It uses artificial intelligence and advanced data analytics to track encounters with the healthcare system for over 325 million patients.
Web Sun, co-founder and president, Komodo Health, said: “Komodo’s Healthcare Map is now the deepest, most representative, and most powerful engine of healthcare intelligence, and as we build for the future, we are humbled to add Tiger Global and Casdin Capital to the list of premier investors backing us in our relentless effort to further extend our seven-year lead.”
Earlier this year, Komodo announced its strategic acquisition of Mavens – a pioneer in cloud computing for the life sciences industry – as well as its $44 million Series D funding led by ICONIQ Growth.
“This investment reaffirms our patient-centric approach to understanding every interaction with the healthcare system and building a flexible analytics platform based on that foundation,” said Arif Nathoo, MD, co-founder, and CEO, Komodo Health. “As digital adoption continues to accelerate rapidly and new sources of healthcare insights proliferate, Komodo enables the enterprise to address unmet needs of patients while reducing disparities in care.”
Including the latest funding round, Komodo Health has raised over $300 million to date. Healthcare Data Analytics companies secured $1.8 billion in venture capital funding in 2020, according to the latest Mercom Digital Health Funding and M&A Report. Recently, Clarify Health, a predictive healthcare data analytics solution, raised $115 million in Series C funding.