Seqster, which provides cloud-based interoperability solutions to retrieve and harmonize electronic health records, genetic, and continuous monitoring data from distinct sources, raised $12 million in a Series A funding round.
The funding round was led by OmniHealth Holdings, with additional investment from Takeda Digital Ventures and 23andMe’s CEO and Founder, Anne Wojcicki.
The company plans to use the latest funds to accelerate the adoption of its healthcare data interoperability technology.
Seqster was founded in 2016 by Ardy Arianpour, Dr. Xiang Li, and Dana Hosseini to address data silos and fragmented health data problems. The platform aggregates data from health/medical records, individual genomic profiles, fitness devices, and social determinants of health (SDOH). The platform then compares data across sources over time, providing health trends for care providers, individuals, and their families, who are then empowered to control their health and improve their well-being.
According to Seqster, its platform connects users to any source of health data, including over 4,000 hospitals and health systems and 150,000 doctor offices and medical clinics across the U.S.
“Seqster was built on the foundation that real-time access to a patient’s complete medical history can solve major pain points across the healthcare continuum, impacting lives at scale,” said Ardy Arianpour, CEO and co-founder of Seqster.
Ardy Arianpour added: “We are excited to have investors who are experienced operators and who share our mission and vision to change the way an enterprise or a patient can capture, refine and manage a multitude of disparate data sources in real-time, and present that aggregate in a way that solves real healthcare challenges.”
“Seqster is solving one of healthcare’s biggest challenges – siloed data, and they have done so with a solution that is comprehensive, easy to deploy, and scalable,” said Tim O’Donnell, Managing Partner of OmniHealth Holdings.
Tim O’Donnell added: “Seqster has provided significant value in the pharmaceutical world by making it easier to recruit and track clinical trial participants. The company is making significant inroads in the healthcare space, where access to complete longitudinal patient data will lower costs and improve patient outcomes. This new investment will enable the company to expand further into healthcare, where Seqster’s software has numerous applications.”
Digital Health companies raised a record $7.2 billion in Q1 2021, up 60% compared to $4.5 billion in Q4 2020. VC funding in Q1 2021 increased 100% compared to Q1 2020, when $3.6 billion was raised.
Recently, Redox, a healthcare data exchange platform, raised $45 million in a Series D funding round led by private equity firm Adams Street.