Nference Closes $60M Series B Round of Financing

By StartUp City | Friday, January 10, 2020

Nference has closed a funding round of $60 million to extend and enhance the connectivity among their customers.

Fremont, CA: For the advance of its biomedical knowledge synthesis platform, the company Nference completed a Series B funding round, raising a total of $60 million. The strategic investor in the financing round was Mayo Clinic, which actively participated in the funding. 

"Our platform makes the predominantly unstructured health information such as clinical notes, case reports, scientific literature, pathology images, ECG waveforms, and genomic sequences computable," said Murali Aravamudan, Founder and Chief Executive Officer of Nference. "Causal inference of genotype-phenotype relationships necessitates such triangulation-at-scale across differentiated bodies of biomedical knowledge."

"We are thrilled to amplify the impact of data science with our biopharmaceutical partners who leverage our platform to pursue a broad spectrum of therapeutics and digital health applications to benefit patients," said Venky Soundararajan, Ph.D., Founder and Chief Scientific Officer of Nference.

Nference is building a comprehensive software platform, which synthesizes the world's exponentially-growing unstructured, semi-structured, and structured biomedical knowledge, using state-of-the-art neural networks. The company’s product, when applied act as enhancer of drug discovery, clinical research, and operations among the biopharmaceutical continuum.

 "Our strategic investment in Nference is a reflection of our confidence that a holistic knowledge synthesis platform that puts patient privacy first is the solution for effectively leveraging Real World Evidence to spur innovation to benefit patient care," said Andrew Danielsen, Chair of Mayo Clinic Ventures, the innovation commercialization arm of Mayo Clinic.

Powered by its Augmented Intelligence software platform, the Nference mission will synthesize the world's quickly growing biomedical knowledge. Nference utilizes the infrastructure from state-of-the-art neural networks in real-time for automated extraction of insights from the scientific, clinical, regulatory, and commercial data sets. The platform enables a diverse set of applications ranging from R&D to market strategy and operations in the life sciences ecosystem. Nference is making biomedical knowledge computable by building its AI platform. This will serve as the connective fabric for various silos of information that exist in unstructured, semi-structured, and structured forms across health care enterprises. Nference is backed by Matrix Partners, Matrix Capital Management, Mayo Clinic Ventures, and NTT Venture Capital.

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