OM1, a US-based medical data technology developer backed by automotive components manufacturer Wanxiang, completed an $85m funding round co-led by care consortium Kaiser Permanente on Friday.
Investment firms D1 Capital Partners and Breyer Capital co-led the round with Kaiser Permanente and they were joined by existing investors including General Catalyst, Polaris Partners, Scale Venture Partners, 7wire Ventures and Glikvest.
Founded in 2015, OM1 provides a software platform able to analyse real-world clinical data for medical research in numerous chronic disease areas such as dermatology, rheumatology, cardiology, gastroenterology, respiratory, neurosciences and behavioural health.
The company’s software uses artificial intelligence, machine learning, predictive modelling and natural language processing to evaluate health outcomes, obtain regulatory approvals and personalise treatments. The funding will support product development and the expansion of its data network.
OM1 had previously raised $50m in a late 2019 round led by Scale Venture Partners and backed by General Catalyst, Polaris Partners and 7wire Ventures, and $21m in a 2018 series B round led by Polaris Partners that also featured General Catalyst and 7wire.
Wanxiang subsidiary Wanxiang Healthcare Investments had backed the company’s $15m series A round the previous year alongside 7wire and General Catalyst.
Richard Gliklich, OM1’s founder and chief executive, said: “There has been limited focus on using real-world data for autoimmune and other chronic conditions – despite those conditions representing more than $1.6 trillion in healthcare costs in the US alone.
“With this funding, OM1 will expand our work building robust real-world data networks that are changing the research paradigm and enabling more precise treatments.”