Sanofi-Genzyme BioVentures, the strategic investment arm of pharmaceutical company Sanofi, has led a $10m funding round for US-based healthcare data analysis platform Evidation Health.
The round also featured GE Ventures, the corporate venturing vehicle formed by industrial product conglomerate General Electric, and B Capital Group, the venture capital fund formed by Facebook co-founder Eduardo Saverin.
Evidation has built a software platform that uses data collected from connected patients to analyse and quantify the effect of digital and other alternative treatment methods.
The funding will be used to improve Evidation’s large-scale behavioural analytics, health outcomes measurement and digital biomarker technology.
Bernard Davitian, managing director of Sanofi-Genzyme BioVentures, said: “With the transition to value-based care, it is increasingly important for pharma companies to understand real-world behaviour of individual patients and populations outside of the traditional clinical trial setting.
“Evidation Health’s unique capabilities in behaviour analytics and integrated patient data are big enablers of this understanding. We have been impressed with both the Evidation team and platform, and we believe that they have the potential to transform the way pharma companies interact with patients to deliver better outcomes.”
Evidation has now raised $31m altogether, including $15m in an October 2016 series B round led by venture fund B Capital Group that included GE Ventures, Asset Management Ventures, Fresco Capital and Pappas Ventures.
GE Ventures had previously combined with Rock Health Seed Fund and Asset Management Ventures to provide $6m in series A funding for the startup in early 2015.