Lumiata, a US-based provider of healthcare analytics technology, has raised $14m to close a series B round co-led by AllegisNL Capital, a joint venture between insurance provider Nippon Life and venture capital firm Allegis Capital.
VC firm Defy.vc co-led the round, which included Blue Venture Fund, a corporate venturing fund that represents 36 BlueCross BlueShield health insurers, and VC firm Khosla Ventures.
Founded in 2013, Lumiata has developed a data analytics software platform that uses artificial intelligence and machine learning technology to predict patient outcomes, identify underwriting risks and reduce costs for healthcare companies.
The company will use the funding to scale its technology platform, open a new office in Mexico and invest in customer acquisition activities.
Khosla Ventures led the $4m first tranche of Lumiata’s series A round in 2014, before Blue Venture Fund (then known as BlueCross BlueShield Venture Partners) and Sandbox Industries supplied an additional $6m to close the round later that year.
Intel Capital, the corporate venturing arm of semiconductor technology provider Intel, led a $10m series B round for the company in 2016 that included Blue Venture Fund, Sandbox Industries and Khosla Ventures.
Lumiata secured another $11m in a 2018 funding round co-led by Blue Venture Fund and Khosla Ventures, with backing from Intel Capital and Sandbox Industries.