Optum Ventures, the investment arm of health services firm Optum, has co-led a $30m series D round for US-based care management software provider Lumeon with private equity firm Endeavour Vision.
Venture capital firms Amadeus Capital Partners and LSP also took part in the round, as did alternative finance provider IPF Partners and healthcare investment firms Gilde Healthcare and MTIP.
Lumeon has developed software that automates care management decisions, guiding patients through the healthcare process. The funding will go to expanding the reach of the platform.
Ashish Patel, a principal at Optum Ventures, said: “As the technology-driven transformation of healthcare is accelerated by Covid-19, Lumeon’s ability to optimise the care of every patient based on individual risk, cost, engagement and social determinants is crucial for their customers to operate effectively.
“We believe Lumeon is uniquely positioned to help health systems unlock new opportunities in sustainable, profitable care delivery.”
The round boosted the company’s funding to $70m since it was founded in 2006, $9.4m coming in a 2015 series B round featuring Gilde Healthcare and existing investors Amadeus Capital Partners and Archimedia Investments.
LSP’s Health Economics Fund 2 led Lumeon’s $28m series C round in late 2018, investing alongside MTIP, Glide Healthcare, Amadeus Capital Partners and IPF Partners. It had entered an accelerator run by healthcare provider Cedars-Sinai Medical Center the previous year.
