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This Boston-based cloud platform employs AI machine learning to organize and analyze big datasets for real-world measures of clinical outcomes
Fremont, CA: OM1, an artificial intelligence platform for real-world clinical evidence, raised $50 million in Series C funding. The funding was led by Scale Venture Partners with support from prior investors General Catalyst, Polaris Partners, and 7wire Ventures.
This Boston-based cloud platform employs AI machine learning to organize and analyze big datasets for real-world measures of clinical outcomes. This provides the best tools for the stakeholders across the healthcare industry to support decisions regarding care management, regulatory submissions, event production, and treatment cost
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The company currently deals in a handful of therapeutic areas like rheumatology, immunology, rheumatology submissions, cardio-metabolic disorders, among others.
According to the sources, OM1 said it would use the funds to further flesh out its products for real-world evidence, value-based care, and predictive medicine.
"Clinical outcomes are the most important metric in healthcare," Dr. Richard Gliklich, CEO and founder of OM1, said in a statement. "With this funding, OM1 will accelerate our work towards delivering rapid access to real-world outcomes and evidence and with helping our customers apply those data in impactful ways."
This funding, almost after a year and a half after $21 million, was raised in Series B, and brought the total capital of the firm to $86million. The time since, has witnessed a handful of news from various healthcare players rooted in the real-world evidence space. These come courtesy of Concerto HealthAI and its clinical insight generation platform, Litmus Health's new clinical research platform, and Evidation Health's device-driven real-world data platform.
"AI and data are driving factors in the transformation of many industries," Rory O'Driscoll, a partner at Scale Venture Partners who will be joining OM1's board, said in a statement. "OM1 is at the forefront of bridging these two in transformative ways in healthcare, and we are excited to be part of the journey to drive the better development of medicine and delivery of care."
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