Komodo Health is at the helm of the healthcare data revolution

Healthcare analytics company (and one of our top 5 digital health startups to watch) Komodo Health recently scored $220 million in a Series E funding round that brought its valuation to $3.3 billion. For context, Komodo Health offers healthcare stakeholders a suite of solutions based on its proprietary AI-powered analytics tool, Healthcare Map, which tracks over 320 million deidentified patient encounters to glean real-world insights.

We spoke to Komodo Health’s CEO, Arif Nathoo, to learn more about the massive funding haul and where Komodo is headed—here’s what he told us:

This funding haul builds on a busy year for Komodo Health:

• In 2020, it raised around $100 million and grew its footprint. In January, it reeled in $50 million in Series C funding, and later drew in $44 million in an unpublicized Series D funding round. The funding was used to further develop its Healthcare Map. That same year, Komodo partnered with pharma firm Karyopharm Therapeutics, and healthcare claims analytics company Blue Health Intelligence—both of which helped fuel Komodo's expansion strategy.
• And earlier this year, Komodo made its first ever acquisition: It scooped up Mavens, a cloud-based solutions vendor. This move melds organically with one of Komodo's goals of lifting disease burden since Komodo and Mavens' combined solution works to efficiently connect patients with life-saving therapies. It's hammering down on facilitating the shift toward a more patient-centric data model to inform healthcare, rather than relying on traditional data aggregators like insurer claims datasets (which can be biased and unrepresentative of the overall US patient population).

Real-world data is the foundation to build a more effective and efficient value-based healthcare system—and companies like Komodo Health will drive this shift. The pandemic turbocharged digital health transformation in the US: In 2020, healthcare data analytics was a top-funded digital health category, securing a whopping $1.8 billion, per Mercom Capital. But challenges around interoperability and disjointed communication between providers, payers, and other healthcare stakeholders inhibit better patient outcomes. Healthcare analytics solutions that leverage real-world patient data can help make healthcare less fragmented, synergize a patient’s healthcare journey, and effectively boost healthcare outcomes across the board: For example, AI-enabled analytics of representative population datasets can help providers make tailored clinical decisions, and drive precision medicine efforts that improve patient outcomes.