Total amount raised
$259 Millions
Latest funding date
03/01/2021
Location
Evidation has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform leverages real-world health data to improve health outcomes, offering unique insights and rewards for everyday activities.
Keep reading to explore the intricacies of Evidation's fundraising journey and the investors backing this innovative platform.
What Is Evidation?
Evidation, based in San Mateo, CA, is dedicated to leveraging real-world health data to enhance everyday health. The company offers an app that rewards users for healthy actions, provides personalized health insights, and facilitates participation in health research.
Founded by Christine Lemke and Deborah Kilpatrick, Evidation has grown to serve various sectors, including life sciences, government, non-profit organizations, and digital health. The platform's unique approach has attracted a diverse user base and significant investor interest.
With a team of over 200 employees, Evidation continues to innovate in the health data space, aiming to create new ways to measure and improve health outcomes. Their mission is to make health data more accessible and actionable for everyone.
How Much Funding Has Evidation Raised?
- Amount Raised: Over $6 million Date: January 2015 Lead Investors: GE Ventures Valuation at Round: Not publicly disclosed Motivation Behind the Round: To support the formation and initial operations of Evidation Health, enabling it to generate real-world clinical and economic evidence for digital health products and platforms.
- Amount Raised: $15 million Date: October 11, 2016 Lead Investors: B Capital Group Valuation at Round: Not publicly disclosed Motivation Behind the Round: To scale operations, improve machine learning for behavior data analytics, and extend direct population reach.
- Amount Raised: $10 million Date: April 2017 Valuation at Round: Not publicly disclosed Motivation Behind the Round: Part of ongoing efforts to expand data analytics capabilities and partnerships.
- Amount Raised: $30 million Date: July 31, 2018 Lead Investors: SV Health Investors, B Capital Group Valuation at Round: Not publicly disclosed Motivation Behind the Round: To launch a new data platform, develop partnerships, and conduct research studies.
- Amount Raised: $153 million Date: March 22, 2021 Lead Investors: OMERS Private Equity, Kaiser Permanente Ventures Valuation at Round: Pre-money valuation of $847 million Motivation Behind the Round: To scale the virtual health capabilities of the Achievement™ platform.
Total amount raised: $214 million
Current valuation: $847 million
Key Investors
- OMERS Private Equity
- Details: OMERS Private Equity is the private equity investment arm of OMERS, one of Canada's largest pension plans with over $50 billion in assets. They focus on long-term investments in high-quality businesses.
- Investment Focus Areas: Healthcare, technology, industrials
- Notable Investments: Caliber Collision, Inmar, DTI
- Kaiser Permanente Ventures
- Details: Kaiser Permanente Ventures is the corporate venture capital arm of Kaiser Permanente, one of the largest not-for-profit health plans in the United States. They invest in innovative healthcare companies.
- Investment Focus Areas: Healthcare services, digital health, medical devices
- Notable Investments: Omada Health, Ginger, Health Catalyst
- SV Health Investors
- Details: SV Health Investors is a venture capital and growth equity firm that invests in healthcare companies. They focus on companies that can significantly improve clinical development and patient outcomes.
- Investment Focus Areas: Biopharma, medical devices, healthcare services
- Notable Investments: Alnylam Pharmaceuticals, Bioventus, Entasis Therapeutics
- B Capital Group
- Details: B Capital Group is a global venture capital firm co-founded by Raj Ganguly and Facebook co-founder Eduardo Saverin. They invest in companies that leverage technology to create significant impact.
- Investment Focus Areas: Healthcare, enterprise software, fintech
- Notable Investments: Atomwise, Evidation Health, Icertis
- GE Ventures
- Details: GE Ventures is the venture capital arm of General Electric, focusing on funding innovative companies across various sectors. They aim to drive growth and transformation through strategic investments.
- Investment Focus Areas: Healthcare, energy, advanced manufacturing
- Notable Investments: Carbon, Clearpath Robotics, Airware
What's Next for Evidation?
As Evidation looks to the future, the opportunities for growth are vast. The company is poised to expand its virtual health capabilities and data analytics platform, integrating data from over 100 sources. This expansion could significantly enhance their ability to provide real-world health insights, benefiting millions of users and healthcare stakeholders.
With a strong track record of attracting high-profile investors, Evidation is well-positioned for future fundraising rounds. The successful Series E round, which raised $153 million, indicates robust investor confidence. This financial backing will be crucial as Evidation scales its operations and explores potential strategic acquisitions to bolster its technology and market reach.
However, challenges lie ahead. The competitive landscape of health data and virtual health markets, coupled with regulatory and compliance hurdles, will test Evidation's resilience. Ensuring the accuracy and reliability of integrated data from diverse sources will be paramount as the company continues to innovate and grow.
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