US-based predictive analytics technology developer Lumiata has raised $11m in a funding round co-led by BlueCross BlueShield Venture Partners, the corporate venturing representative of health insurer Blue Cross Blue Shield Association.
Venture capital firm Khosla Ventures co-led the round, which featured semiconductor technology producer Intel’s corporate venturing unit, Intel Capital, and VC firm Sandbox Industries, increasing Lumiata’s total funding to $31m.
Founded in 2013, Lumiata has developed an artificial intelligence-equipped data analytics platform for healthcare provision that models disease risk and predicts the onset of certain chronic conditions for more than 20 million patients.
Khosla Ventures supplied $4m in series A funding for the company in January 2014 before BlueCross BlueShield Venture Partners and Sandbox added $6m to close the round later in the year.
Intel Capital led another $10m round in May 2016 that was backed by Blue Cross Blue Shield Venture Partners, Sandbox Industries and Khosla Ventures.
John Banta, executive director for BlueCross BlueShield Venture Partners, said: “We are not only impressed with the data science and engineering team Lumiata has assembled, but also with the company’s leadership and vision of what they can deliver to millions across this country.”