US-based health data provider Evidation Health completed a $45m series D round on Wednesday that included McKesson Ventures, the strategic investment arm of healthcare product distributor McKesson.
The round was led by venture capital firm B Capital Group and also featured Section 32, Revelation Partners, Rethink Impact and SV Health Investors. It increased the company’s funding to $106m since it was founded in 2012.
Evidation has created a software platform that passively collects data on everyday behaviour from sources like electronic devices, sensors, speech or video, and analyses it to generate insights and support research that could lead to improving healthcare.
The company raised $30m in an August 2018 series C round co-led by B Capital Group and SV Health Investors and backed by GE Ventures and Sanofi Ventures, on behalf of industrial and medical equipment manufacturer General Electric and pharmaceutical firm Sanofi respectively.
Sanofi Ventures (then known as Sanofi-Genzyme BioVentures) led a $10m round for Evidation the year before, investing with GE Ventures and B Capital Group.
Evidation had secured $15m in a 2016 series B round led by B Capital Group that included GE Ventures, AMV, Fresco Capital and Pappas Ventures. It had already received $6m in series A funding from GE Ventures, Rock Health Seed Fund and Asset Management Ventures in 2015.
B Capital principal Adam Seabrook has taken a board seat at Evidation, which has hired Sam Marwaha, senior partner at consulting firm and B Capital partner Boston Consulting Group, as chief commercial officer.
The company, which was formed through a partnership between GE Ventures and Stanford University, will use the proceeds from the round to expand its data generation.
