Komodo Health secures $220m in Series E funding round

Health analytics start-up Komodo Health has closed a $220m Series E funding round, giving the company a valuation of $3.3bn.

The funding round was led by Tiger Global, with additional support from Casdin Capital and existing investors ICONIQ Growth, Andreessen Horowitz and SVB Capital.

The company will use the additional funding to accelerate investment in its Healthcare Map enterprise technology platform, application suite and core data assets.

The Healthcare Map uses artificial intelligence (AI) and advanced data analytics to track encounters with the healthcare system for over 325 million de-identified patients, culminating in what Komodo Health described as the industry’s largest and most complete record of de-identified real-world patient insights.

The platform gives healthcare providers, pharmaceutical companies and other life sciences stakeholders a range of services designed to help close gaps in care, address unmet patient needs, improve engagement, and ultimately help bring novel therapies to market.

Komodo Health CEO Arif Nathoo said: “This investment reaffirms our patient-centric approach to understanding every interaction with the healthcare system and building a flexible analytics platform based on that foundation.

“As digital adoption continues to accelerate rapidly and new sources of healthcare insights proliferate, Komodo enables the enterprise to address unmet needs of patients while reducing disparities in care.”

Komodo raised $44m during a 2020 Series D round, which was unpublicised until this January, as well as a $50m Series C round in January 2020.

In January 2021, Komodo acquired Mavens, a cloud-based software company that helps biotech, rare disease and speciality pharma companies navigate commercialisation. Komodo has not disclosed the value of the transaction.

The analytics space is becoming increasingly popular with investors, with Clarify Health bringing in a $115m Series C round for its clinical data analysis platform last week.