KenSci, a US-based provider of risk assessment software for the healthcare industry, has secured $22m in a series B round that included safety equipment producer UL’s corporate venturing unit, UL Ventures.
Investment firm Polaris Partners led the round, which also featured venture capital firms Ignition Partners, Osage University Partners and Mindset Ventures.
Founded in 2015, KenSci has developed a platform that combines healthcare data from clinics, insurance claims and patients with machine learning technology to weigh up the risks of various treatment methods across financial and operational as well as clinical areas.
The series B proceeds will go to international growth and product development. UL will offer its global resources and experience in regulatory and safety compliance to KenSci in addition to its investment.
The company’s only previous funding came through an $8.5m series A round in January 2017 that was led by Ignition Partners and backed by Osage University Partners and Mindset Ventures.
Samir Manjure, KenSci’s co-founder and chief executive, said: “In the last two years, we have singularly invested ourselves in building a platform that simplifies the way health systems look at their data and gain actionable, predictive insights to save lives and costs.”
Manjure co-founded the company with Ankur Teredesai, a professor of computer science and systems at the University of Washington, Tacoma’s Institute of Technology, and KenSci was incubated at the university’s Center for Data Science.
