Total amount raised
$288.8 Millions
Latest funding date
01/01/2022
Location
Verana Health has successfully raised significant funding through multiple rounds, with the latest being a Series E round. The company is backed by 15 investors, including Brook Byers and Transformational Healthcare Venture Capital.
Verana Health leverages advanced AI and ML technology to provide actionable insights from real-world data, aiming to transform patient care. Keep reading to explore the intricacies of Verana Health's fundraising journey and the investors backing this innovative platform.
What Is Verana Health?
Verana Health, founded in 2008, is a digital health data company based in San Francisco, California. The company operates within the analytics, biotechnology, database, and healthcare industries.
Founded by Mark Blumenkranz, Verana Health employs between 51 and 100 people. The company leverages advanced AI and ML technology to provide actionable insights from real-world healthcare data, aiming to enhance patient care and clinical research.
How Much Funding Has Verana Health Raised?
- Series A
- Amount Raised: $1M
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop foundational technology.
- Series B
- Amount Raised: $7.8M
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance data analytics capabilities.
- Series C
- Amount Raised: $30M
- Date: July 2018
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rebranding efforts and initial expansion.
- Series D
- Amount Raised: $100M
- Date: February 2020
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand data partnerships.
- Series E
- Amount Raised: $150M
- Date: January 2022
- Lead Investors: Johnson & Johnson Innovation – JJDC, Novo Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance life sciences product strategy, enhance AI capabilities, and expand data footprint.
Total Amount Raised: $288.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Johnson & Johnson Innovation – JJDC
- Details: The venture capital arm of Johnson & Johnson, focusing on investments in healthcare and life sciences. They aim to accelerate innovation and bring new healthcare solutions to market.
- Investment Focus Areas: Healthcare, life sciences, medical devices, pharmaceuticals.
- Notable Investments: Auris Health, Grail, HeartFlow.
- Novo Holdings
- Details: A global life sciences investor that supports companies in the healthcare sector. They focus on creating long-term value through investments in life sciences and healthcare companies.
- Investment Focus Areas: Life sciences, healthcare, biotechnology, pharmaceuticals.
- Notable Investments: Xellia Pharmaceuticals, Synlab, ERT.
- Google Ventures (GV)
- Details: The venture capital investment arm of Alphabet Inc., investing in various sectors including healthcare and technology. They provide funding and support to innovative startups.
- Investment Focus Areas: Technology, healthcare, life sciences, consumer products.
- Notable Investments: Uber, Slack, Flatiron Health.
- Casdin Capital
- Details: An investment firm focused on life sciences and healthcare. They aim to support companies that are driving innovation in these sectors.
- Investment Focus Areas: Life sciences, healthcare, biotechnology.
- Notable Investments: 10x Genomics, Relay Therapeutics, Tango Therapeutics.
- Brook Byers
- Details: A prominent venture capitalist known for investing in healthcare and biotechnology. He has a long history of supporting innovative companies in these fields.
- Investment Focus Areas: Biotechnology, healthcare, life sciences.
- Notable Investments: Genentech, Hybritech, Illumina.
What's Next for Verana Health?
Verana Health stands at the cusp of significant growth opportunities, driven by its advanced AI and NLP capabilities. The company aims to enhance its life sciences product strategy, expand its data footprint, and strengthen partnerships with top pharmaceutical companies. With a robust data ecosystem and exclusive partnerships, Verana Health is well-positioned to lead in clinical trials enablement and real-world evidence generation.
Future fundraising opportunities appear promising, given the successful Series E round and the involvement of high-profile investors. This financial backing could pave the way for further expansion and technological advancements. However, challenges such as ensuring data privacy, achieving interoperability across EHR systems, and maintaining data quality will need to be navigated carefully.
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