Holmusk, a data science & health technology leader, has recently announced a funding round worth $21.5 million. This funding was led by HCC (Health Catalyst Capital), OV (Optum Ventures), Heritas Capital, existing investors as well as other individuals.
The company is developing the largest RWE (Real-World Evidence) platform in chronic diseases and behavioral health across the globe. The platform will help expand its evidence-based, data-driven care for people with behavioral health conditions. This has been made possible by joining its novel analytics platform with the specialty behavioral data. This will offer insights based on evidence that patients, healthcare payers, and care providers can leverage to develop fully informed treatment and care decisions. These offerings will assist the pharma companies in research & development as well as commercialization of new drugs.
Holmusk acquired MindLinc, a behavioral health focused EHR system, from the Duke University School of Medicine in 2016. This helped the company leverage the longitudinal data from various mental health institutions in the U.S., stretching nearly 20 years. The recent funding round will enable the company to expand its operations in NYC. It will also allow the company to invest in the proprietary technology to analyze and harness real-world data as well as accelerate the development of drug & data-driven medicine.
OV’s Dr. Vijay Barathan and HCC’s Charles Boorady will become the members of the Board of Directors.
According to Dr. Barathan, the OV team has been encouraged by the evidence-based approach of Holmusk to improve its care services. He further expressed his anticipation of closely partnering with the Holmusk team to enter the next stage of growth. HCC’s Charles Boorady also stated that Holmusk can improve patient care services while reducing the administrative burden as well as supporting the R&D of new therapies and models.
As per the statement made by Nawal Roy, Founder and CEO of Holmusk, the company is excited to partner with OV and HCC to drive evidence-based care and cater to the high demand for RWE.