Truveta welcomes new health system members and raises $95M; YuLife scores $70M to transform life insurance and more digital health fundings

Also: Entos works to improve drug development after closing its Series A round and Castor plans to build out its decentralized clinical trial platform with a $45 million investment.
By Mallory Hackett
01:02 pm
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Photo by IronHeart/Getty Images.

Truveta, a provider-led startup creating a comprehensive platform of de-identified patient data, has raised $95 million in Series A funding.

The company's health systems, including its three latest members Baylor Scott and White Health, MedStar Health and Texas Health Resources, contributed to the funding round. With the new additions, Truveta's members provide 15% of all patient care in the U.S., according to the announcement.

"I'm inspired by the commitment from our 17 health provider members to join Truveta to save lives with data," Terry Myerson, CEO of Truveta, said in a statement.

"Together, we are hard at work to help researchers find cures faster, empower every clinician to be an expert, and help families know they are receiving the best care for their condition. We are building an unprecedented data platform and learning community for health. Our members' data commitment, clinical expertise, and strategic capital will help us achieve our vision. We invite others to join us."

Truveta plans to use the investment to hire technologists and health data experts who can help it build the platform. The cash will also go toward covering infrastructure and cloud-computing costs related to creating the Truveta platform.


London-based insurtech startup YuLife scored $70 million in a Series B funding round led by Target Global. Additional support came from new investors Eurazeo and Latitude as well as existing investors Creandum, Notion Capital, Anthemis, MMC Ventures and OurCrowd.

On a mission to transform traditional life insurance, YuLife's app harnesses gamification, behavioral science and artificial intelligence to encourage members to practice healthy behaviors. It rewards members when they complete activities such as working out or meditating and gives employers actionable data insights.

"For too many years, life insurance has focused solely on paying out a lump sum upon death. It is now time to reimagine the very nature of life insurance by putting 'life' first, and inspiring members to live their best lives every single day, using insurance as a tool to enhance their physical, mental and financial wellbeing," Sammy Rubin, CEO and founder of YuLife, said in a statement. "Redefining group-life insurance is just the start of the journey for YuLife as we look to inspire life through a vast range of new insurance products."

YuLife plans to use the funds to develop new products, expand its presence in the UK and broaden its reach into new markets.


AI-enabled drug discovery company Entos today announced the closing of its $53 million Series A funding round.

Coatue led the round along with Catalio Capital Management, OrbiMed, Sequoia Capital, Nexus Ventures and Freeflow.

Entos' lead product, the OrbNet platform, is powered by artificial intelligence and machine learning and accelerates quantum mechanics calculations while using less training data to create an improved drug development process.

The investment will go toward building out the OrbNet platform, specifically with robotic synthesis and high-throughput experimentation, as well as supporting Entos in hiring additional scientific and engineering talent.


Decentralized clinical trial startup Castor raised $45 million in Series B funding led by Eight Roads Ventures and F-Prime Capital. This round brings the company's total funding pot to $65 million.

Existing investors Two Sigma Ventures and Inkef Capital also participated in the raise.

"Castor was created with the mission to help researchers globally conduct more effective clinical trials while improving the patient experience," Dr. Derk Arts, CEO and founder of Castor, said in a statement. "Prioritizing the patient and site user experience is particularly important today when COVID-19 has fundamentally changed the nature of clinical trials."

The company will use the new capital to make improvements to its platform, focusing particularly on globally scaling direct-to-patient trials.


Swift Medical, a digital wound care company, announced a Series B funding round worth $35 million. Virgo Investment Group led the round in addition to DCVC, BDC Capital, Claritas Capital, Chrysalis Ventures, Pender Ventures and Export Development Canada.

The company's platform harnesses AI to capture the dimensions and clinical characteristics of a wound and consultations and real-time predictive insights into care and prevention.

"Wound care is a massive clinical and financial challenge at every bedside, which has been largely ignored by the technology industry," Carlo Perez, cofounder and CEO at Swift Medical, said in a statement.

"Through COVID-19, health systems have been waking up to the need to equip their clinicians with empathic technology that gives them the knowledge and confidence to provide world-class wound care for even their most complex, bedridden patients."

Swift Medical will use the funds to scale its platform across North America, according to the announcement.


Russian insurtech company BestDoctor has raised $26 million in Series B funding, as reported by TechCrunch. Winter Capital Partners, VNV Global and UNIQA Ventures participated in the raise.

The company creates technology insurance products for employers and offers telemedicine services for employees.

While BestDoctor didn't specify what exactly the funds will be used for, it has plans to enter the consumer market this year as well as expand to a global market.

 

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