An AI-enabled health insights company, Cardinal Analytx Solutions, has raised $22 million in a series B funding round.
The company, which was founded by Stanford professors Arnie Milstein, MD, and Nigam Shah, MBBS, PhD, integrates predictive insights with meaningful actions to find people at high risk of rising cost and worsening health, according to a press release. The platform matches people with interventions that can prevent further decline in their health. The proactive healthcare company was also founded in partnership with Cardinal Partners.
“Cardinal uses machine learning to create advanced, early-warning predictions and interventions to address health conditions early––when they matter most,” said John Doerr, who led the funding round and will also serve on Cardinal’s board of directors. He is also chairman of Kleiner Perkins.
Other investors include GuideWell Mutual Holding Corporation, Blue Shield of California and Premera Blue Cross. The company, which is based in Palo Alto, California, plans to use the capital to invest in talent and more technology.
“The caliber of investors we’ve attracted speaks for itself, validating our team’s efforts to execute on our vision: to deliver proactive healthcare that improves people’s health and reduces the total cost of care,” Cardinal Analytx CEO Linda T. Hand said in a statement.
The level of investment interest in the healthcare space continues to skyrocket, and the technology and healthcare IT recently identified as the richest investment opportunity by M&A professionals in the sector.