Conversa Health, an automated virtual care communication platform, closed $12 million in a Series B funding this week. The round was co-led by Builders VC and Northwell Ventures and included investments from P5 Health Ventures, Nassau Street Ventures and UH Ventures.
With this, Conversa has raised more than $26 million in funding.
WHAT THEY DO
Conversa partners with health systems to virtually communicate with patients in order to monitor and manage their health needs. It creates profiles for patients based upon their medical records, claims and symptoms. Using machine learning, Conversa’s platform can set the frequency of outreach and personalize messages based on the patient.
Healthcare providers can use the platform to have automated care conversations around chronic-condition management, post-hospital discharge, pre- and post-surgery, and medication adherence.
Pharmacies can use Conversa to educate patients about their medications and send reminders to take their prescriptions.
It also helps patients remotely monitor and track their conditions. For instance, a patient can report their blood pressure on the app, and the platform can prompt the patient to contact their healthcare provider if needed.
Conversa recently launched a suite of COVID-19 programs for businesses to ensure their workers are healthy when they return to work. Using its automated messaging system, employees can track their symptoms, get screened before work and receive lab results.
WHAT IT’S FOR
Conversa plans to use this additional funding to scale its communication platform. It will continue to help healthcare providers and pharmacists save time while monitoring patients’ needs.
MARKET SNAPSHOT
Medical centers are increasingly using chatbots as a way to interact with patients, especially during the pandemic.
Microsoft released its own system earlier this year to talk to COVID-19 survivors about donating plasma.
Using automated messaging in the mental health sector has been common, but now Aetna International is partnering with Wysa to help people specifically about the pandemic.
Despite the popularity of chatbots, some people are worried about shortcomings around creating a realistic personality.
ON THE RECORD
“With its game-changing platform that delivers proven results for leading health systems, Conversa’s moment is now,” Mark Goldstein, a BuildersVC partner and Conversa board of directors member, said in a statement. “With COVID-19, Conversa is even more mission-critical. Hospitals recognize that ongoing remote patient engagement, monitoring and data analysis, via telehealth and integrated smart apps, is essential to reduce costly, in-person interactions and improve outcomes.”
