Healthcare companies have proven themselves indispensable as they work to combat the COVID-19 pandemic, and one of the names looking to help the cause is Komodo Health. With AI-powered tech, the company is pursuing its mission of globally reducing disease burden, and it just announced the closure of a $220 million Series E round.
Its enterprise product, Healthcare Map, uses AI and real-time data analytics to provide healthcare businesses with patient insights as they relate to large-scale health outcomes. It’s working to help healthcare facilities address unmet patient needs, improve engagement and bring more therapies to market.
“We deidentify, anonymize and tokenize the longitudinal patient journeys of over 325 million patients across every single interaction and touchpoint that they have with the healthcare system,” Web Sun, Komodo Health’s president and co-founder, told Built In. “[The Healthcare Map] is the foundation for our platform capabilities as well as the solutions that we build.”
While monitoring diseases such as cancer and asthma, Komodo also played a part in helping healthcare companies confront COVID-19 by supplying them with unique insights. Its platform tracked the wide range of experiences that patients had in real time as the disease spread, providing clients with a better glimpse of how the pandemic would play out.
Komodo’s latest round of funding was led by Tiger Global Management and follows the company’s $44 million Series D that was announced earlier this year in January. The healthtech unicorn now boasts a $3.3 billion valuation, according to MobiHealthNews.
“This investment is going to be used to continue expanding our Healthcare Map and in addition we’re going to be investing heavily in the technology needed to drive insights off of our real-world data,” Sun said. “We’re investing in deploying our platform to serve as the backbone for any healthcare entity out there looking to perform patient-level analyses.”
Going forward, Komodo anticipates launching new enterprise applications and accelerating the development of analytics features for its existing solutions, according to Sun.
Following its recent acquisition of cloud computing company Mavens, the NYC- and San Francisco-based company currently has a headcount of almost 500. It’s looking to further its growth and is “hiring aggressively across all functions,” a representative told Built In. Komodo has dozens of open positions listed on its site for roles in engineering, finance, product, marketing and more.
Prior to the onset of the COVID-19 pandemic, Komodo had a strong in-office culture, according to Sun. It’s looking to return to this mode of operation as soon as possible in compliance with local health ordinances.
