Pattern Health, a no-code platform for digital health programs, announced this week it raised $1.5 million in new funding.
The Durham, North Carolina-based company received backing from investors Cofounders Capital and the Launch Place.
WHAT IT DOES
The Pattern Health platform can be used by clinicians and researchers alike to launch a range of digital health programs. It can integrate into electronic health records for patient triaging and remote monitoring, or be used to collect data and generate evidence for research studies.
It is HIPAA-compliant and HITRUST certified, and it can connect with a number of third-party devices, including AliveCor, Apple Health and Fitbit.
Along with its platform, the company has a marketplace for organizations that want to create their own program with the help of Pattern Health. With this option, Pattern Health assists in research and development, and equips companies with their own IP, which can be scaled for real-world use.
WHAT IT’S FOR?
This capital raise comes at a time of growth for the types of digital health programs made by Pattern Health, according to Ed Barber, the company’s CEO and cofounder.
"The COVID-19 pandemic has forever changed how we deliver and receive healthcare, and has proven to be a catalyst for digital health adoption by both providers and consumers," Barber said in a statement.
"We are excited to see the platform being used in a wide range of use cases, such as researching new approaches for at-home testing for COVID-19, developing advanced algorithms to help identify patients who may be at higher risk for negative outcomes, and serving and protecting patients by delivering care and monitoring them remotely, improving access while reducing the risk of disease spread."
With the new funds, Pattern Health plans to invest in product development for its platform, including expanding its integration and interoperability capabilities. It will also focus on sales and marketing efforts to support its increasing customer base. Additionally, the company said it anticipates the need for several new hires this year.
As patients continue to opt for digital platforms for many of their health needs during on-going COVID-19 lockdowns, the companies that create them are growing.
The last week alone has seen notable developments: The oncology platform Carvive raised $18 million in Series C funding; DrChono’s mobile-friendly EHR platform has been integrated with Apple Health; and 98point6’s primary care platform now supports behavioral health offerings.