Market Overview

Evidation Health Announces $30M in New Funding

Share:

Launches First, Purpose-Built Data Platform to Measure and Better
Understand How Everyday Behavior Data, Medical Conditions, and Symptoms
Interact

Evidation
Health
, a health and measurement company that helps life sciences
and health care companies understand how everyday behaviors and health
interact, announced today that it has raised $30 million in Series C
funding.

The round was co-led by SV Health Investors, a new investor, and
existing investor B Capital Group. It included participation from
existing investors GE Ventures and Sanofi Ventures. With this funding,
Evidation has raised a total of $61 million.

Evidation also announced that it launched a new data platform to enable
its customers to analyze and process large-scale sensor and behavior
data in clinically meaningful ways.

"Our new data platform makes it easier for statisticians and data
scientists at life sciences and health care companies to take everyday
behavior and health care data, analyze it, and create a new
understanding of health," said Evidation Health CEO Deborah Kilpatrick,
Ph.D. "This will help Evidation speed a transformation in real world
research and knowledge, so we can better treat, diagnose, and predict
the onset of disease."

By linking real world data from smartphones and connected sensors —
including wearables and medical devices — with traditional medical data,
Evidation measures how behaviors outside of the doctor's office or
hospital relate to health and impact outcomes. The new data platform —
which has been battle tested in a pilot program with a leading, global
pharmaceutical company — can ingest individually-permissioned data from
more than 100 sources ranging from Apple Health to Fitbit, Epic, Blue
Button, and Dexcom.

The platform marries this information with traditional data from
insurance claims, electronic health records, and diagnostic reports,
alongside patient-reported outcomes collected directly through
Evidation's platform. This provides a new opportunity to analyze
individual behavior and health in real time, not just when someone
checks in with a physician or stops to record what they did or felt.

"Evidation's data platform is opening up exciting new possibilities in
medical research and the way we treat and prevent disease," said P.
Murali Doraiswamy, M.D., professor of psychiatry and medicine at Duke
University Health System, and an advisor to Evidation. "With its unique
analytics and methods, Evidation is transforming data into the kind of
findings that traditional clinical trials may need substantially longer
time frames, maybe even decades, to achieve. This will help identify
health risks earlier and better treat the kinds of chronic diseases that
scientists are working to cure."

The secure, private platform currently processes more than 1 trillion
data points each year across millions of individuals. It is built to
manage the scale of high volume, continuous data streams and eliminates
the need for infrastructure, data, and feature engineering on the part
of Evidation customers, allowing them to focus entirely on analytics.

Already, the platform is being used to invent new ways to measure health
across diabetes and cognitive decline. This complements the work that
the company is performing with partners across multiple therapeutic
areas ranging from cardiovascular disease to chronic pain, rheumatoid
arthritis, migraine, depression and anxiety, fatigue, heart failure, and
asthma — to name a few.

In addition to supporting the new data platform, the funding will be
used to develop partnerships, adding to Evidation's vast array of real
world data sources, and to launch novel research studies to better
understand and measure how everyday behavior and health interact.

"We're excited to deepen our partnership with Evidation Health and
continue supporting the team as they build the leading platform to
generate clinical relevance from everyday behavior data in real world
populations. Evidation's ability to link patient behavior to medical
outcomes is truly revolutionary and will help transform how we measure
health in everyday life," said Raj Ganguly, co-founder and partner of B
Capital Group.

"Evidation stands out not only because of its powerful data intake,
aggregation, and analytics capabilities, but also because of the
strength and vision of the company's leadership team with a rare
combination of deep technology and health care expertise. Evidation
represents a unique platform company with the ability to meaningfully
improve clinical development and, by extension, drug delivery,
treatment, and outcomes," added SV Health Investors Managing Partner
Michael Balmuth, who is joining Evidation's board of directors.

Since 2012, Evidation Health has built the most diverse virtual pool of
research participants through its proprietary app, Achievement.
With more than 2 million individuals using the app, this cohort is
unparalleled in clinical research today, and represents the U.S.'s
largest virtual research site. Individuals have the opportunity to
participate in research
studies
, enabling Evidation to drill down to the individual level to
address new questions and generate new context as needed — to measure
what treatments work best and under what conditions, and enable earlier
diagnoses and better matched interventions.

About Evidation

Evidation Health is a new kind of health and measurement company that
provides the world's most innovative life sciences and health care
companies the technology and expertise they need to understand how
everyday behavior and health interact. The volume of behavior data
generated from smartphones and connected sensors — including wearables
and medical devices — has opened up new ways to analyze individuals'
behavior and health in real time, unlocking insights into what medicines
and treatments work best and spotting significant changes in health
earlier. The scale and utility of everyday behavior data has the
potential to be one of the most transformative forces in medicine, and
Evidation Health is leading the way. Over the years, Evidation has built
the largest, most diverse virtual pool of research participants through
its proprietary and popular app, Achievement. With a direct and trusted
relationship with more than 2 million individuals, its deep research
expertise, and its data platform, Evidation Health can undertake real
world research for life sciences and health care companies — and,
ultimately, transform how health is measured and how diseases are
identified, treated, and monitored. Founded in 2012, Evidation Health is
headquartered in San Mateo, Calif., with additional offices in San
Francisco and Santa Barbara, Calif. To learn more, visit evidation.com,
or follow us on Twitter @evidation.

About SV Health Investors

SV Health Investors, formerly named SV Life Sciences, is a healthcare
and life sciences venture capital and growth equity firm. SV targets
early-stage opportunities in biotechnology; early-stage and
revenue-stage opportunities in medical devices; and growth equity
investments for later-stage businesses in healthcare services and
digital health. Over the past 20 years, SV Health Investors has invested
in more than 175 companies. The firm currently has over $2.5 billion of
capital commitments under management. SV Health Investors has offices in
Boston and London. For more information, please visit www.svhealthinvestors.com.

About B Capital Group

B Capital Group is a global venture capital firm that invests in
pioneering healthcare, fintech, industrial logistics and consumer
enablement companies that are primed to scale across the global stage.
Founded in partnership with The Boston Consulting Group, B Capital Group
delivers unique access to top corporations to match cutting-edge
start-ups with the world's leading CEOs, platforms, and brands. Existing
portfolio companies include AImotive, Atomwise, Bird, Bizongo,
Bright.md, Capital Match, Carro, CXA, Evidation Health, Fishbrain,
Hollar, Icertis, INTURN, Journera, Lanetix, Mswipe, Myia, Ninja Van and
SilverCloud Health. For more information, visit www.bcapgroup.com.

View Comments and Join the Discussion!