Medivo, a US-based online health monitoring platform, has raised $15m in series B financing led by the Global Health Innovation Fund (GHIF) of US-based healthcare company Merck, with participation from existing investors, company builder Safeguard Scientifics and early-stage venture capital fund MentorTech Ventures.
To date, Medivo has raised over $22m to support its analytics capabilities and health data platform, including a $7m series A financing in late 2011.
Joe Volpe, investment principal for GHIF, said: “Health information technology is one of the prime investment areas for Merck’s Global Health Innovation Fund, and Medivo’s technology and analytics platform are at the forefront of innovation in this space.”
Sundeep Bhan, chief executive officer and a co-founder of Medivo, said: “The new round of funding will be used to continue expanding our clinical data platform, enriching our analytics services and building out connectivity to additional data sources. We also will broaden and enhance our product offerings for physicians and consumers, and develop new patient engagement services.”
Gary J. Kurtzman, managing director, Healthcare at Safeguard, said: “This new round of funding will enable Medivo to expand and continue on its impressive growth trajectory. We are excited to welcome Merck GHIF to the team.”