Holmusk, a Singapore based healthtech and data science firm, has reportedly announced that it has secured $21.5 million through a new investment round led by HCC (Health Catalyst Capital) and OV (Optum Ventures).
Apart from these new investors, existing investor of the company, Heritas Capital along with a couple of other unnamed individual investors also participated in the funding round.
The company would use the newly raised funds to expand its US footprint in New York City.
Moreover, a certain chunk of the funds would also be invested in the company’s proprietary technology to analyze and harness real-world information to expedite data-driven medicine and drug development.
Holmusk, established in 2015, aims to change the lives of people suffering from behavioral health and chronic diseases using evidence-driven medicine. The company is developing a real-world evidence platform for chronic diseases and mental health.
Holmusk made this possible by integrating specialty behavioral health information and the company’s new analytics platform to provide evidence-based information, which can be used by healthcare payers, care providers, and patients to make treatment and care decisions that are fully informed, and also better integrate care provided for people with chronic and behavioral health needs.
The capabilities of the platform can also help pharmaceutical firms with research and development along with the commercialization of novel drugs.
In 2016, the company acquired EHR (electronic health record) system aimed at behavioral health, MindLinc, from the Duke University School of Medicine. This allowed the firm to use longitudinal data from several mental health institutions throughout the US, stretching more than 20 years.
Holmusk has its offices in London, Shanghai, and New York City.
Dr. Vijay Barathan of Optum Ventures stated that the company's team is encouraged by the evidence-based approach of Holmusk to enhance care for people with behavioral health diseases, and Optum looks forward to closely work alongside the Holmusk team to help it achieve the next level of this growth.