Lumeon, a Boston- and London-based care-management-automation startup, has announced $30 million in new Series D funding. Optum Ventures and Endeavour Vision co-led the raise, which also included LSP, MTIP, IPF Partners, Gilde and Amadeus Capital Partners.
WHAT IT DOES
Lumeon's primary offering is its EHR-integrated Care Pathway Management platform. The tool incorporates clinical and administrative data streams to guide and automate patient care. From care-team coordination to clinical optimization, to administrative busywork, the company says its platform can deliver more efficient care, better outcomes and lower costs.
“While the markets for data analytics, clinical decision support and patient engagement are well established, what is missing today is the ability to effectively connect them to solve the problem of personalizing care delivery in a scalable way,” Robbie Hughes, CEO and founder of Lumeon, said in a statement. “The ‘last mile’ that turns the insight into action is the hardest part for health systems, and is the core of the Lumeon proposition.”
According to Lumeon's most recent announcement, the Care Pathway Management platform has so far been deployed among more than 70 health systems in 12 countries.
WHAT IT'S FOR
The startup was light on specifics, but said that it is looking to expand the reach of its platform with these funds.
“This investment will allow us to continue on our rapid growth path, as we help healthcare systems develop and scale new models of delivery,” Hughes said.
A healthy number of digital health startups have turned to intelligent, data-driven technologies either to reduce administrative burden or streamline evidence-based clinical decision-making. Less than half a year ago, Olive raised $51 million for its healthcare-administration-automation platform. That news was preceded by a $70 million raise for healthcare data analytics firm Innovaccer.
ON THE RECORD
“As the technology-driven transformation of healthcare is accelerated by COVID-19, Lumeon’s ability to optimize the care of every patient based on individual risk, cost, engagement and social determinants is crucial for their customers to operate effectively,” Optum Ventures principal Dr. Ashish Patel said in a statement. “We believe Lumeon is uniquely positioned to help health systems unlock new opportunities in sustainable, profitable care delivery.”