H1 Insights Raises $58 Million for Healthcare Data Analytics Platform

Sema4, a patient-centered healthcare data analytics platform, announced that funds managed by BlackRock led its Series C financing round of $121 million at a post-money valuation of over $1 billion.

According to the company, its platform analyzes and interprets information about known inherited diseases, including related mutations, frequency across populations, and the penetrance and expressivity of genetic changes.

New investors Deerfield Management Company and Moore Strategic Ventures, led the financing round with participation from existing investors, including Section 32, Blackstone, Oak HC/FT, Decheng, and the Connecticut Innovation Fund.

As part of this investment, Andrew Elbardissi, MD Partner at Deerfield, has joined the Sema4 board of directors. The company has also recently added Rachel Sherman (former Principal Deputy Commissioner at the FDA), Mike Pellini, MD from Section32 (former CEO of Foundation Medicine), and Marty Chavez (former CFO of Goldman Sachs) to its board.

Goldman Sachs acted as sole placement agent for the financing, and Fenwick & West acted as legal counsel to Sema4.

“This investment is exciting for the significant financial resources it provides Sema4 for our continued rapid growth and accelerated investment, and also for the world-renowned partners it brings to our team,” said Eric Schadt, Ph.D., Founder and Chief Executive Officer of Sema4.

“I look forward to working with our new and existing investors – who collectively have deep expertise in the life and data sciences – as we create cutting-edge precision medicine solutions for providers and patients to dramatically improve health outcomes,” further added Eric Schadt.

Sema4 was spun out of the Mount Sinai Health System in June 2017.

With this Series C round, the company has raised over $240 million since its founding in 2017. Last year, the company raised $120 million in Series B funding round.

Healthcare data analytics companies raised $826 million in 1H 2020.

Learn more: https://mercomcapital.com/product/1h-q2-2020-digital-health-healthcare-it-funding-ma-report/