Lumiata Receives Additional $6M in Funding

SAN MATEO, Calif., Sept. 11 — Lumiata, a provider of predictive analytics based on medical science, announced today that it has added another $6 million to its Series A round to power a data-driven transformation of healthcare.

A big data revolution is under way in healthcare across every major healthcare organization. Mckinsey estimates that more than $300 to 400 billion in healthcare cost savings can be realized from new protocols and effective use of data. While the healthcare system is just beginning to appreciate data’s richness and its potential application to improve health and wellness for all, the explosion of newly available data from a diverse set of sources ranging from electronic health records to smart sensors, make it extremely difficult for health organizations to put data into action. But data science, already reshaping our daily lives with search engines, smart phones and GPS devices, offers a way forward to wide-scale transformation of healthcare quality, access, and insight.

“There is a large opportunity to reduce the waste and inaccuracy associated with healthcare decision making by empowering professionals with the best medical science that is hyper personalized,” said Matt Downs, Managing Director of Sandbox Industries. “Lumiata is uniquely positioned to help health plans identify gaps in care, diagnosis and data inherent in their member populations.”

Bringing Data and Medical Science Together for Predictive-First Healthcare

Lumiata powers Predictive-First Healthcare by combining the brilliance of physicians with the analytical power of big data.

Lumiata harnesses medical science, in the form of a medical knowledge graph, to deliver real-time hyper-personalized and evidence-based analytics at scale. Based on the most current scientific research and clinical practice, Lumiata’s medical graph uses more than 170 million data points and over 25,000 hours of physician expertise to transform data from claims, EHRs, sensors and more into actionable health stories of individuals and populations to predict, “what to do, for whom, when and why?” with greater accuracy and context.

“Lumiata seeks to power Predictive-First Healthcare — a world where health organizations are able to anticipate in real-time and deliver practical insights that are based on medical science,” said Ash Damle, Lumiata CEO and Founder. “We are excited to bring our new investors onboard to help us enable healthcare stakeholders, of all sizes, gain a deeper understanding of their patients’ current and future health, risk and cost, so they can deliver higher value care.”

Lumiata’s technology increases the ability of health insurers and risk-bearing organizations to understand the level of clinical, operational and financial risk associated with a patient, through the lens of medical science. For healthcare providers, Lumiata’s medical graph enhances the efficiency and quality of processes such as intake, patient triage and discharge, and delivers prescriptive analytics regarding symptoms, medications, risk factors and diagnoses. Lumiata’s platform, via a real-time RESTful API, allows any app or device to become health “aware” — able to provide the healthcare context and health implications at an individual and population level.