US-based healthcare data software developer Komodo Health raised $44m of series D funding yesterday from investors including medical supplies distributor McKesson, which participated through corporate venturing unit McKesson Ventures.
Investment firm Iconiq Capital’s growth equity affiliate, Iconiq Growth, led the round, which also featured venture capital firms Andreessen Horowitz, Oak HC/FT, IA Ventures and Felicis Ventures.
Komodo has developed a software platform that tracks de-identified patient data from more than 320 million people, using artificial intelligence and data science technology to provide insights to customers including life science companies and insurance firms.
The round was announced alongside the acquisition of healthcare software provider Mavens for an undisclosed amount.
Arif Nathoo, Komodo’s co-founder and chief executive, said: “This acquisition disrupts the status quo, unlocking a fundamentally different opportunity for life sciences companies to gain access to differentiated insights through technology.
“Purchasing fragmented and costly data assets, custom solutions and expensive consulting projects will be a thing of the past as Komodo Health delivers a seamless, data-driven platform across R&D, commercial, medical affairs and patient workflows.”
Komodo raised $50m in an Andreessen Horowitz-led series C round in January 2020 that included Oak HC/FT, IA Ventures and Felicis Ventures, the last two having joined McKesson Ventures in a series A round of undisclosed size in 2016. The company has yet to release details of its series B round.