Israeli digital health startup, MDClone, secured $63 million in a Series C funding round led by global growth investor, Warburg Pincus, and Israeli growth fund, Viola Growth, the company announced last week.
Investment firms aMoon, LightSpeed Venture Partners, and OrbiMed also joined the funding round.
MDClone plans to use the new capital to accelerate the expansion of its healthcare data solutions by investing in new regional markets in the Asia Pacific, Europe, and the Middle East, continuing to develop its MDClone ADAMS Platform, and expanding into new vertical markets such as Life Science and Real World Evidence (RWE).
The MDClone ADAMS Platform is a powerful data analytics environment used by teams across the healthcare ecosystem to improve operational efficiencies, revenue growth, and proactive care for patients worldwide.
The company will also begin hiring additional staff to take on a number of new key roles as it looks to continue advancing data access and accelerating self-service data exploration.
Founded in 2016, MDClone grants clinicians and healthcare professionals the capability to explore healthcare data independently without encountering time-consuming barriers. Its revenues have more than doubled over the past as a result of taking on major health systems, federal agencies like the VA and NIH, and academic research organizations from the US and Canada. MDClone is
Serving major health systems, federal agencies including the VA and NIH, and academic research organizations, MDClone continues to grow and is focused on new regions including Asia Pacific, Europe, and the Middle East.
“Our mission from the start was to help the healthcare ecosystem use data to improve care delivery and health,” said Ziv Ofek, co-founder and CEO of MDClone. “Through our journey, we’ve seen great examples around the world where innovation, passion, and technology combine to drive better outcomes. With our technology and growing customer base, we are focused on continuing our global mission and are excited to accelerate the development of new capabilities and in new markets.”
“We’ve been looking to invest in the digital health space for a while and were fascinated with MDClone and the immense opportunity it brings to the healthcare system by democratization of healthcare data without the risk of exposing individuals’ data,” said Eran Westman, general partner at Viola Growth.