After raising $45 million last summer to expand its virtual health research platforms—and supplement them with follow-up digital care and personal interventions—Evidation Health has now scored another $153 million to rapidly accelerate its work.
This includes building out its digital Achievement program, which signs up participants for research studies from a pool of over 4 million users, connects with different apps and wearable devices to gather their health and fitness data and then compensates them for their efforts.
The former Fierce 15 winner’s latest series E round was co-led by OMERS Growth Equity and Kaiser Permanente Group Trust with additional investments from previous backers McKesson Ventures and B Capital Group.
“Achievement has made it possible to rapidly understand health and therapeutic impact with speed and rigor at scale,” said Evidation’s co-CEO and executive chair, Deborah Kilpatrick. “The next era of Evidation will transform how individuals interact with the ecosystem of care, by providing anyone with evidence-supported guidance and actionable tools to better understand and improve their health.”
“We are now the first company that can help digital health and biopharma companies generate evidence about their treatments, and then enable individuals to use that evidence to take actions to manage their health,” Kilpatrick said.
According to Evidation, its Achievement network represents users in all 50 states and nine out of every 10 zip codes to help perform real-world studies spanning COVID-19, Alzheimer’s disease and chronic pain.
This includes more than 1 million active individuals participating in research programs over 2020, which the company expects to grow past 2 million before the end of this year.
Last year also saw Evidation launch its Achievement for Heart Health project in partnership with the American College of Cardiology to help monitor participants for the early signs of heart failure. The company also worked with Apple and the government of Singapore to develop the personalized LumiHealth program that encourages healthy behaviors and activity via a smartwatch.
“Evidation has made rapid, virtual research at scale possible and the company’s innovative platform can be leveraged to guide patients on their health journeys,” said Teresa Lee, managing director of OMERS Growth Equity, who joins the company’s board of directors.