SmarterDx takes in $50M
SmarterDx, a clinical artificial intelligence company, said it has received $50 million in a Series B funding round.
The round was led by venture capital firm Transformation Capital. Other investors were Bessemer Venture Partners, Flare Capital Partners and Floodgate Fund.
Related: Top digital health funding: Rad AI, General Catalyst, Triomics
SmarterDx uses AI to work with health systems to help them with medical coding so they can avoid missed, rejected or underpaid claims. The company said it will use the funds to invest in innovation.
SmarterDx has received $71 million in total funding including the latest round.
AMA, Dexcom and Labcorp invest in obesity startup
Phenomix Sciences, an obesity care startup, received $5.5 million in a Series A funding round.
Dexcom, which sells blood glucose monitors, and Labcorp, a diagnostics company, were investors in the round. The American Medical Association’s Health2047 venture studio also participated.
The company also said it received a $2.3 million grant through the National Institutes of Health.
Phenomix, which was founded by Mayo Clinic obesity doctors, has developed the MyPhenome blood test, which uses analytics and precision medicine to help physicians treat obesity patients. The company said the funding will be used to accelerate the commercialization and adoption of the test.
The round brings the company’s total funding to $12 million.
Related: Ozempic is huge. Here’s who’s jumping into telehealth to sell it.
Chapter receives $50M for Medicare navigation
Chapter, a Medicare navigation startup, raised $50 million in a Series C funding round. The New York City-based company will use the funding to upgrade its data tools and hire engineers and product experts to develop software that helps match people with health insurance plans. Read more.
Watershed Health closes $13.6M round
Watershed Health, a care coordination company, said it secured $13.6 million in a seed funding round.
Venture capital firm First Trust Capital Partners led the round. Venture capital firms including FCA Venture Partners and 450 Ventures also participated. MassMutual Ventures, the venture arm of life insurance company MassMutual, was an investor as well.
Watershed has developed a platform for health insurers and providers that shares patient and care coordination metrics including social determinants of health. The company said it will use the round to further develop the platform and hire an additional 10 to 15 employees, primarily in engineering and sales teams.
Daffodil Health gets $4.6M
Daffodil Health, a health pricing AI startup, received $4.6 million in a seed funding round.
Venture capital firm Maverick Ventures led the round, with participation from Epic Ventures.
Daffodil has developed a generative AI-based application that aims to automate healthcare pricing processes for third-party administrators and payers. CEO Navin Nagiah said the company will go live with this application at several third-party administrator customers in the coming months.
