MediSafe, a company which has claimed to boost medication adherence up to 81 percent, has raised $1 million in first round funding. The round was co-led by lool Ventures and TriVentures. Angel investors Eyal Gura, Yadin Kaufmann and Yair Schinde also contributed to the round.
MediSafe is a cloud-based app system — the patients get a reminder to take their meds on their Android or Apple smartphone app, and are then prompted to record it if they do. If they don’t indicate that they’ve taken their dose, a graduated series of friends and family is informed and can take action.
“It pushes you a notification when its time to take your meds,” MediSafe CEO Omri “Bob” Shor told MobiHealthNews in January. “The first one is a quiet one, like a text message. The second one is a louder one. The third one you can’t ignore, and the fourth one goes to your wife.”
The company will use the money to build up strategic partnerships with pharma companies, pharmacies, HMOs, employers and hospitals. MediSafe hopes to be valuable to those stakeholders because it not only can increase patients' medication adherence, but it also collects de-identified aggregate data about patients' adherence.
“We look forward to continuing the momentum by creating new partnerships, new medication management features, and leveraging our de-identified user’s self-reported data to help resolve an issue that is not only costing the healthcare system billions of dollars, but also putting lives at risk," Shor said in a statement.
MediSafe project reported 81 percent adherence after eight weeks of data. More than six months later, the company is now reporting that its users post 86 percent adherence, though in both cases the data is self-reported.