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Memora Health assists healthcare organizations in digitizing and automating care journeys, making complex care delivery easier to navigate for patients and clinicians
Fremont, CA: Memora Health, the leading technology platform for virtual care delivery and complex care management, closed a $40 million financing round. Andreessen Horowitz, Frist Cressey Ventures, Edward Elmhurst Health, AlleyCorp, and others participated in the funding led by Transformation Capital. In addition, Todd Cozzens, Managing Partner at Transformation Capital, will join Memora's board as part of the financing.
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The long tail of the pandemic has revealed an identity crisis in healthcare delivery: administrative inefficiencies, the shift to value-based care, and consumerization of the patient experience have made it critical for healthcare organizations to modernize how they deliver care and reach patients. With healthcare spending in the United States on track to exceed $6 trillion by 2028, there is an urgent need to transform the core of how care teams manage their patients outside of the clinic and assist patients in navigating their healthcare.
"Our vision is to make care more actionable, accessible, and available at all times. To accomplish this, we must de-burden care teams and connect the entire clinical workflow in a way that simplifies complex care for both patients and clinicians " Manav Sevak, co-founder, and CEO of Memora Health stated.
"Memora solves one of the most pressing issues for providers – automating complex care journeys where patient touchpoints are critical for better outcomes, and caregivers can collaboratively manage and monitor these care journeys," said Todd Cozzens, Managing Partner at Transformation Capital. "Memora has built an integrated platform with a growing library of hundreds of journeys across all major specialties and is digitising the best care management process from leading health systems for complex patients. As a result, patients and caregivers can use a user-friendly tool to manage complex care in a systematic and consistent manner."
Memora continues to expand rapidly with crucial healthcare organizations, having recently added leading health systems, health plans, life science companies, and digital health companies as customers. In addition, Memora has digitized clinical workflows in collaboration with several leading healthcare organizations, including the Mayo Clinic, Edward Elmhurst Health, and Penn Medicine, enabling complex care workflows ranging from automated care gap closure to intelligent remote monitoring and proactive care coordination.
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