Concerto HealthAI's $150M Series B, Komodo Health's $50M Series C and more digital health funding news

It's been a busy week for digital health funding, with more raises announced by Arcadia, Cardiologs, Covera and others.
By Dave Muoio
03:39 pm

Concerto HealthAI, the maker of a clinical insight generation platform that employs real-world data in its analyses, has closed $150 million in aggregate Series B financing. Declaration Partners headed the investments, which also featured Maverick Ventures, AllianceBernstein PCI and SymphonyAI Group.

Concerto boasts 90% year-over-year revenue growth for its business, and paired the funding announcement with the launch of a new version of its eurekaHealth product that combines real-world evidence and machine learning. The new funds will help the company focus on developing its products and services, expand beyond precision oncology and into new therapeutic areas, and develop commercial patient offerings.

Arcadia has received a $29.5 million growth equity investment in its population health management tech. Closed back in late 2019 but announced this week at the JP Morgan Healthcare Conference, the raise was led by Cigna Ventures with additional support from other existing shareholders in the company.

While Arcadia didn’t specify how it will be applying its new funds, Cigna Ventures’ Global Lead Tom Richards said in a statement that “with our investment and partnership, [Arcadia] an bring even more resources and tools to health care professionals – enhancing patient care and furthering the adoption of value-based care models.”

Komodo Health has raised $50 million in Series C funding round headed by Andreessen Horowitz and augmented by Oak HC/FT, IA Ventures and Felicis Ventures.

The company offers an analytics and insights platform for healthcare, life sciences and advocacy groups seeking a more detailed look into patient healthcare journeys in the US with its Healthcare Map product, which the company says it will be expanding with the new $50 million. As of now, Komodo says its platform is being licensed by 70 different healthcare organizations.

Zipari technology platform for health insurance consumer engagement has brought in $22.5 million in a Series B raise. The financing was led by Vertical Venture Partners, with additional support from Health Velocity Capital, Healthworx, and Horizon Healthcare Services, Inc.

Zipari looks to improve patient experience through its offerings, which include the CX Engagement Hub land its Partner Network, both of which launched last year.With the funding, the startup plans to “widen distribution channels, expand partner integrations, and scale the development of Zipari’s highly configurable product lines with focused investments in strategic innovations,” the company wrote in its announcement.

Cardiologs, a Paris-based startup building AI products for heart disease diagnostics, has secured a $15 million in Series A funding from Alven and prior backers, including Bpifrance, ISAI, Kurma Diagnostics, Idinvest Partners and Paris Saclay Seed Fund.

The company’s product is capable of spotting 100-plus cardiac abnormalities from ECG recordings, and has received clearance from the FDA for clinically-relevant arrhythmias, according to the company. It will be using its new funds to build up its North America and Europe sales and marketing efforts.

Last week Covera Health, a clinical data analytics company aiming to reduce medical misdiagnoses, announced a $23.5 million Series B raise headed by Insight Partners, with participation from Prism Ventures and other prior backers.

The funds will allow the company to increase its data science R&D, particularly in its initial focus area of radiology. The company will also be used to expand its first national Radiology Centers of Excellence program built for plans, employers and other strategic partners.

Healthcare transportation platform Kaizen Health announced the close of a Series B funding round led by UnityPoint Health Ventures. The company did not disclose the size of the investment.

Kaizen’s tech helps health systems, payers, senior living groups and other organizations simplify the ordering and coordination of non-emergency medical transport for individuals. The latest raise will help the company expand its sales and account management teams while fleshing out its existing platform


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