OM1, a Boston-based artificial intelligence platform for clinical real-world evidence, has raised $50 million in Series C funding. Scale Venture Partners led the round consisting of support from prior backers General Catalyst, Polaris Partners and 7wire Ventures.
WHAT THEY DO
OM1’s cloud platform employs AI machine learning organize and analyze large datasets for real-world measures of clinical outcomes. Stakeholders across the healthcare industry can use the startup’s tools to support decisions regarding care management, treatment costs, regulatory submissions and event prediction.
The company currently focuses its efforts on a handful of therapeutic areas including immunology, rheumatology and cardiometabolic disorders, among others.
WHAT IT’S FOR
OM1 said it will be using the funds to further flesh out its products for real-world evidence, value-based care and predictive medicine.
“Clinical outcomes are the most important metric in healthcare,” Dr. Richard Gliklich, CEO and founder of OM1, said in a statement. “With this funding, OM1 will accelerate our work towards delivering rapid access to real-world outcomes and evidence and with helping our customers apply those data in impactful ways.”
This round comes about a year and a half after the company’s $21 million Series B, and brings its total raise to about $86 million.
The time since has seen a handful of news from others healthcare players entrenched in the real-world evidence space. These come courtesy of Concerto HealthAI and its clinical insight generation platform, Litmus Health’s new clinical research platform and Evidation Health’s device-driven real-world data platform.
ON THE RECORD
“AI and data are driving factors in the transformation of many industries," Rory O’Driscoll, a partner at Scale Venture Partners who will be joining OM1’s board, said in a statement. “OM1 is at the forefront of bridging these two in transformative ways in healthcare, and we are excited to be part of the journey to drive the better development of medicine and delivery of care.”