$13.5M for Binah.ai, $35M for Abacus Insights and more digital health fundings

Also: Optum Ventures leads unspecified investment into DocASAP; Wellsheet to build up engineering and go-to-market teams with $3.8 million Series A.
By Dave Muoio
01:56 pm

Binah.ai has raised $13.5 million in Series B funding for its smartphone camera- and artificial intelligence-based vital signs-monitoring technology. Maverick Ventures Israel headlined the round, while prior backers Esplanade Ventures, Sompo International, GiTV and iAngels also participated.

The Tel Aviv, Israel-based company said that it's looking to boost its sales and marketing efforts with the new funds. Its platform currently provides measurements of heart rate, heart rate variability, oxygen saturation and respiration rate, with plans in the works to add blood pressure, hemoglobin, temperature and more.

“We are proud of the continuous proof of trust that our previous and current investors are offering us,” David Maman, CEO and cofounder of Binah.ai, said in a statement. “We are poised more than ever to fulfill our vision and mission as we look forward to releasing more capabilities than ever before achieved – reinforcing our investors’ and customers' trust.”

Abacus Insights, a data interoperability technology company targeting health plan customers, collected $35 million in Series B funding, bringing its lifetime venture backing to $53 million. Blue Venture Fund led the round, and was accompanied by CRV, .406 Ventures, Horizon Healthcare Services and Echo Health Ventures.

The Boston-based company will be deploying the new capital to scale its business, continue to flesh out the capabilities and connections supported by its platform, and make new hires.

“The COVID-19 pandemic has highlighted the critical importance of reliable health data in managing disease and patient care,” Mike Spadafore, managing director of the Blue Venture Fund, said in a statement. “Health plans play a leading role in this effort as the caretakers of the broadest spectrum of patient health data – across primary and specialty care, hospitals, pharmacy, labs and wellness programs. Today, however, the ability to view and responsibly make use of that data to improve healthcare is too often obscured by the silos in which the data resides. Abacus Insights’ cloud-based platform connects and unlocks that data and allows patients to receive more proactive, personalized care at a lower cost.”

Patient access, engagement and navigation platform DocASAP announced the close of an unspecified funding round led by Optum Ventures.

CEO Puneet Maheshwari said that his business – which grew 100% in 2019 thanks to partnerships with "leading payers" – would now be turning its attention toward payer-provider network growth and platform advancement.

“Convenience and frictionless access not only mean a better experience for patients and members, but also create opportunities to improve patient outcomes and drive down the cost of healthcare,” Maheshwari said in a statement. “Payers and health systems alike are seeing enhanced access to care as a way to change how healthcare is delivered and experienced. Our patient access and engagement platform puts us at the center of this transformation.”

Wellsheet, a startup working to streamline EHR workflows via API, has raised $3.8 million in Series A funding. SpringTide Investments headed the round, which also saw contributions from BioAdvance and Newark Venture Partners.

Alongside $2.2 million the company raised during angel and seed raises, this brings the Newark, New Jersey company's lifetime funding to $6 million.

Craig Limoli, CEO founder and chairman of Wellsheet, said that the new funds will help his company build up its engineering and go-to-market teams. The money will also allow Wellsheet's platform to expand across platforms, he said.

careMESH, the maker of a national provider directory and information sharing platform, has closed a $5 million seed round led by Assurance Capital and Pavey Family Investments. Prior backers in the company also participated.

The Virginia startup said that it would be using the raise to increase adoption of its platform.

"careMESH is challenging the status quo and creating new ways of using established technology standards to dramatically improve how healthcare communicates. They have the model that will make the most of their customers' investments in EHRs and other large IT systems, while bringing new flexibility and reach to the table," Matt Morrison of Assurance Capital said in a statement. "I'm proud to help lead this round of investment and am excited to watch careMESH grow and have a tremendous impact on the industry."

CT brain scan analysis software maker Deep01 has raised $2.7, TechCrunch reports. The Taiwanese company's new investments were led by ASUSTek, and included support from the Digital Economy Fund and BE Capital.

Deep01's software is has been cleared by the FDA, and according to the company is being used in six facilities in Taiwan. The company said that it also received its first purchase order in February.

Agamon, a Tel Aviv, Israel-based startup using AI to format unstructured clinical data, has raised a $3 million seed round led by MMC Ventures, with contributions from InHealth Ventures, Seedcamp and Bayer G4A.

The company will be working toward scaling up global hospital deployments of its AI, which it will continue to train so that it can handle a wider range of clinical data.



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