This review is designed to highlight the most famous funding round of the month, not comprehensive.
Health tech companies issued several major funding announcements in May. Here are some of the largest financing lists.
Cohere Health raises $90 million in C-Capacity Fund
Boston-based Cohere Health offers AI-powered previous authorization solutions to help improve the relationship between payers and providers. It works with approximately 600,000 providers and processes each year and provides approximately 12 million prior authorization requests.
The $90 million funding is led by Temasek and includes support from Deerfield Management, Define Ventures, Flare Capital Partners, Longitude Capital and Polaris Partners. The announcement said it will help the company scale and invest in its AI products. Overall, Cohere Health raised $200 million.
Akido Labs receives $60 million in Series B funding
Akido Labs, based in Los Angeles, is an AI and care delivery company. It offers a product called Scopeai, which helps providers diagnose patients, identify the most effective treatments and predict health risks.
The $60 million round of B is led by Oak HC/FT, with participation from Greco, SNR, Y Combinator, Future Community Capital, Jeff Dean (leading scientist at Google DeepMind and Google Research) and the Integrated Blood and Cancer Center. Financing will help expand its Scopeai products.
Sprinter Health snags $55 million Series B Fund
Sprinter Health, based in Menlo Park, California, works with the health program and provides home and virtual care. Its community-based health personnel, known as Sprinters and remote nurse practitioners provide diagnostic screening, vital examinations, drug management support, health access and care navigation. The sprinter is a W-2 employee and is certified for venous outcomes and is trained in the skills of medical assistants and community health workers.
The $55 million Series B round is led by general catalysts, including participation from the University of California, Google Ventures and Accel’s Andreessen Horowitz (A16Z) Bio+Health. Financing will help the company grow its team and expand into new geographic areas. Sprinter Health raised over $125 million in total.
Phasev raises $50 million in Series A funding
Boston-based Separv is a technology company that uses AI and machine learning to help biopharma sponsors and contract research organizations make accurate and effective clinical development decisions.
The company’s $50 million salary increase is led by Accel and Insight Partners, including participation from existing investors Viola Ventures, Exor and Lionbird. This will help “grow its vertical AI platform to provide an overall solution for clinical development,” the announcement said. The company raised a total of $65 million.
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