Total amount raised
$463.6 Millions
Latest funding date
Location
Biofourmis has successfully raised significant funding over multiple rounds, with its latest Series D round closing on July 27, 2022. The company is backed by 15 investors, including notable names like Intel Capital and CVS Health.
Keep reading to explore the intricacies of Biofourmis' fundraising journey and the investors backing this innovative healthcare technology platform.
What Is Biofourmis?
Biofourmis, founded on November 27, 2015, is a biotechnology company headquartered in Boston, Massachusetts. The company was established by Kuldeep Singh Rajput, Maulik Majmudar, and Wendou Niu.
Operating in the biotechnology, mHealth, personal health, predictive analytics, and therapeutics industries, Biofourmis employs between 251-500 people. The company focuses on developing healthcare technology platforms that enable personalized care and therapies through digital therapeutics.
Biofourmis partners with health systems, hospitals, and payers to revolutionize care delivery, offering solutions such as hospital-at-home, timely discharge, and remote patient management. Their innovative approach aims to improve clinical, operational, and economic outcomes across the healthcare continuum.
How Much Funding Has Biofourmis Raised?
- Funding Round: Angel Round
- Amount Raised: SGD100K
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart operations and develop early-stage technology.
- Funding Round: Angel Round
- Amount Raised: $1M
- Date: August 2016
- Lead Investors: Eden Strategy Institute, SpesNet Pte. Ltd.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Funding Round: Seed Round
- Amount Raised: $500K
- Date: May 2017
- Lead Investors: SpesNet Pte. Ltd.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology platform and prepare for market entry.
- Funding Round: Series A
- Amount Raised: $5M
- Date: December 2017
- Lead Investors: Aviva Ventures, Openspace
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Funding Round: Series A
- Amount Raised: $2M
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving the technology platform.
- Funding Round: Series B
- Amount Raised: $35M
- Date: May 2019
- Lead Investors: MMV Europe & Asia-Pacific, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product capabilities.
- Funding Round: Series C
- Amount Raised: $100M
- Date: September 2020
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and product development.
- Funding Round: Series D
- Amount Raised: $300M
- Date: April 2022
- Lead Investors: General Atlantic
- Valuation at Round: At least $1 billion
- Motivation Behind the Round: To support growth and expansion in the healthtech sector.
- Funding Round: Series D
- Amount Raised: $20M
- Date: July 2022
- Lead Investors: Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support growth and technological advancements.
Total Amount Raised: $463.6M. Current Valuation: At least $1 billion.
Key Investors
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on innovative technology companies. It supports startups and companies that align with Intel's strategic interests.
- Investment Focus Areas: Artificial intelligence, autonomous driving, data center, cloud, healthtech.
- Notable Investments: Cloudera, DocuSign, Vuzix.
- CVS Health
- Details: CVS Health is a healthcare innovation company dedicated to providing affordable and accessible healthcare. It operates a network of pharmacies and clinics across the United States.
- Investment Focus Areas: Healthcare innovation, digital health, patient care solutions.
- Notable Investments: Aetna, Omnicare, Coram.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused investment funds in the world. It aims to accelerate the AI revolution through strategic investments.
- Investment Focus Areas: Artificial intelligence, robotics, telecommunications, e-commerce.
- Notable Investments: Uber, WeWork, Arm Holdings.
- General Atlantic
- Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. It focuses on partnering with entrepreneurs and management teams.
- Investment Focus Areas: Technology, healthcare, financial services, consumer.
- Notable Investments: Airbnb, Slack, Uber.
- MMV Europe & Asia-Pacific
- Details: MMV Europe & Asia-Pacific is an investment firm focusing on high-growth companies in various sectors. It aims to support companies with strategic capital and expertise.
- Investment Focus Areas: Healthcare, technology, consumer goods.
- Notable Investments: Not publicly disclosed.
What's Next for Biofourmis?
Biofourmis stands at the cusp of significant growth opportunities, bolstered by a recent $20 million investment from Intel Capital. This funding, coupled with their previous $300 million Series D round, positions the company to scale its operations and enhance its digital health solutions. The healthtech sector's rapid expansion, particularly in digital health and remote patient monitoring, offers a fertile ground for Biofourmis to innovate and lead.
Future fundraising prospects look promising as Biofourmis continues to attract interest from venture capital and private equity firms. Their unicorn status and demonstrated growth potential make them a compelling candidate for further investments. However, the company must navigate intense competition and regulatory challenges across different markets. Maintaining high-quality service and technological innovation while scaling operations will be crucial for sustained success.
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