All existing Lumiata investors, including Blue Cross Blue Shield Venture Partners, Sandbox Industries, and Khosla Ventures participated in this Series B Round.The latest round of funding brings the total amount of capital raised by Lumiata to $20 million.
More efficient risk management
Healthcare’s rapidly evolving business models require more precise and efficient ways to manage risk, Lumiata says. Some 30 percent of healthcare providers are in risk-sharing agreements today, a figure that is expected to at least double by 2020. However, the inability to share and analyze claims and clinical data in real-time often makes it virtually impossible to effectively manage risk and generate quality outcomes. Lumiata believes its technology and approach to analytics, enable organizations to identify and manage risk with the precision, efficiency and transparency needed to deliver on value-based care.
By combining data science with medical science and literature, the Lumiata Medical Graph models human pathophysiology to yield the company’s main product, the Lumiata Risk Matrix. This Risk Matrix provides the current and evolving risk of each individual within a population through highly precise, time-based predictions coupled with medical reasoning.
Integrating old and new data streams
“By integrating new data streams, such as IoT, with traditional clinical data, Lumiata has the potential to bring a fresh approach to managing risk with healthcare analytics,” said Steve Agritelley, General Manager of the Health and Life Sciences Group at Intel Corporation, in a joint statement.
Lumiata is a predictive analytics company that leverages medical artificial intelligence to enable health organizations to manage risk and prioritize care.It was founded in 2013 and is based in Silicon Valley. Its team is comprised of clinicians, data scientists, and experts in care delivery.
Intel Capital is Intel’s strategic investment and M&A organization. It backs innovative startups worldwide targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing.