OM1, a company that provides chronic disease registries and real-world data, banked $85 million backed by Kaiser Permanente and General Catalyst.
The Boston-based health technology company says it will use the funding to expand its real-world data cloud, clinical registries and artificial intelligence platform for real-world evidence and personalized medicine.
The round was led by D1 Capital Partners, Kaiser Permanente, and Breyer Capital, with participation from General Catalyst (GC), Polaris Partners, Scale Venture Partners, 7wire Ventures, and Glikvest.
The company was founded in 2015 by the leadership team of Outcome Sciences, the pioneering real-world research company, which was acquired in 2011. It has secured $171 million in funding in the past six years.
OM1 partners with providers, medical societies, payers and manufacturers to harness real-world data for advancing medical research, evaluating health outcomes and personalizing treatment in chronic disease areas, such as dermatology, rheumatology, cardiology, gastroenterology, neurosciences and behavioral health.
The company also develops state-of-the-art artificial intelligence models and solutions for finding patients and predicting outcomes.
“There has been limited focus on using real-world data for autoimmune and other chronic conditions—despite those conditions representing more than $1.6 trillion in healthcare costs in the U.S alone,” said Dr. Richard Gliklich, CEO and founder of OM1 in a statement. “With this funding, OM1 will expand our work building robust real-world data networks that are changing the research paradigm and enabling more precise treatments.”
Healthcare organizations, including regulators, payers and providers, are looking to use real-world evidence for supporting outcomes-based decision making. By organizing health information and applying AI technology, OM1 helps customers generate and use real-world evidence more rapidly and effectively to gain regulatory approval, to understand the effectiveness, safety and value of treatments, and to personalize care, according to the company.
OM1 is at the “forefront of innovation” in applying real-world data and AI in impactful ways, sai Daniel Sundheim, founder of D1 Capital Partners.
Real-world data startups have been attracting big investments. HealthVerity, a platform used by pharmaceutical companies and government agencies to access, analyze and manage real-world patient data, recently raised $100 million in a Series D round.
Aetion also hauled in $110 million in a series C funding round. The company offers real-world evidence and analytics to drug companies, payers, life sciences companies and regulatory agencies.
Healthcare “map maker” Komodo Health also netted $220 million in new funding to build out its data analytics platform for healthcare and life sciences research.