Holmusk Announces Closing of US$21.5 Million Series A Funding Round, Led by Optum Ventures & Health Catalyst Capital
SINGAPORE, LONDON and NEW YORK, May 18, 2020 /PRNewswire/ -- Holmusk, a leading data science and health technology company, today announced a US$21.5 million funding round. The round was led by Optum Ventures (OV) and Health Catalyst Capital (HCC) and included existing investors Heritas Capital and other individuals.
Holmusk is building the world's largest Real-World Evidence (RWE) platform in behavioral health and chronic diseases to expand data-driven, evidence-based care for people managing behavioral health conditions. This is made possible by bringing together specialty behavioral health data and Holmusk's novel analytics platform to deliver evidence-based insight that care providers, health care payers and patients can use to make fully informed care and treatment decisions, and better integrate care for people with both behavioral and chronic health needs. These capabilities can also aid pharma companies with R&D and commercialization of new drugs.
In 2016, Holmusk acquired MindLinc, an Electronic Health Record (EHR) system focused on behavioral health, from Duke University School of Medicine. This enabled the company to leverage longitudinal data from many mental health institutions across US, stretching over 20 years.
Founded in 2015, Holmusk is headquartered in Singapore with offices in New York City, London and Shanghai. Holmusk was recognized as a Technology Pioneer in 2019 by the World Economic Forum and is part of the Innovations in Healthcare's 2020 Innovator Cohort. The new funding round allows Holmusk to expand its US operations in New York City, and enables investment in its proprietary technology to harness and analyze real-world data to accelerate drug development and data-driven medicine.
Dr. Vijay Barathan from Optum Ventures (OV) and Charles Boorady from Health Catalyst Capital (HCC) will be joining the Board of Directors.
"Our team is encouraged by Holmusk's evidence-based approach to improving care for people suffering from behavioral health disorders, and we look forward to working closely with the Holmusk team to support the next phase of growth" said Dr. Vijay Barathan of Optum Ventures.
Charles Boorady of Health Catalyst Capital said "by redefining the EHR from a repository of data to a clinical decision support tool with connectivity to digital therapeutics, Holmusk is uniquely positioned to improve patient care while reducing administrative burden and supporting the research and development of new care models and therapies."
"In situations like today, the need for Real-World Evidence is more pronounced than ever," said Nawal Roy, Holmusk's Founder & CEO. "We are fortunate to bring on partners like Optum Ventures and Health Catalyst Capital who understand the importance and are excited to join us in our mission to drive evidence-based care."
Holmusk is on a mission to transform the lives of people with behavioral health and chronic diseases through evidence driven medicine. Headquartered in Singapore with a global footprint, it is building the world's largest real-world evidence platform for mental health and chronic diseases. For more information, please visit www.holmusk.com.
About Optum Ventures
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of the UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, please visit www.optumventures.com.
About Health Catalyst Capital
Health Catalyst Capital is an independent private equity firm that invests in growth stage healthcare information technology and technology-enabled services businesses, including artificial intelligence, genomics, data analytics and informatics. HCC was formed by a team of experienced healthcare investors and operators seeking profitable investment opportunities, while at the same time seeking to improve the human condition and promote value-based care.
For more information, please visit www.healthcatalystcapital.com.
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