Digital specialty care firm Story Well being introduced a $22.6 million Collection A funding spherical targeted on increasing its attain into the cardiology area. Northpond Ventures and B Capital Group led the spherical with participation from LRVHealth and current traders Outline Ventures and Common Catalyst.
This new infusion of money comes only a yr after the corporate launched with a $4 million seed funding spherical.
WHAT IT DOES
Based by Verily vets Tom Stanis and Nikhil Roy, in addition to heart specialist Dr. Ashul Govil, the corporate created a system that makes use of telehealth, AI and related gadgets to deal with sufferers at dwelling. The San Jose, California-based startup at the moment works with well being programs to handle the care for his or her sufferers with coronary heart failure.
Sufferers enrolled in Story Well being get treatment and different care reminders. The service additionally consists of well being coaches, which will help sufferers entry their care and drugs. Medical doctors can entry affected person knowledge and faucet into customized suggestions primarily based on a doctor’s historic prescribing patterns. The system can combine into an EHR system utilizing SMART on FHIR tech.
WHAT IT’S FOR
The corporate at the moment has providers for heart-failure sufferers, and it is trying to increase into different areas of cardiology.
“Situations like coronary heart illness that require specialist care are extraordinarily complicated, debilitating, and dear, but our well being system doesn’t have sufficient clinicians to deal with affected person demand. That’s why specialty care is the following frontier for digital well being,” Karen Web page, common companion of B Capital Group, stated in an announcement.
“Digital well being platforms like Story Well being give specialists unprecedented scale, permitting them to constantly monitor their sufferers’ progress, make sooner changes in remedy regimens, and finally enhance the lives of sufferers themselves.”
MARKET SNAPSHOT
Story Well being is not the one firm working within the digital cardiology area. Heartbeat Well being, which offers cardiac digital care, scored $20 million in Collection B. In 2020, Ultromics, maker of an AI-supported cardiac choice help software, landed $10 million.
Eko Well being is a digital well being startup that mixes ECG-enabled digital stethoscopes with monitoring and evaluation algorithms. The corporate landed $65 million in 2020.
ON THE RECORD
“Constructing a complete, extremely partaking digital specialty care answer for suppliers was already an enormous achievement, however addressing these social boundaries to take care of sufferers was additionally extremely essential,” Tom Stanis, cofounder and CEO of Story Well being, stated in an announcement.
“Weak populations like these on Medicaid and Medicare persistently see poorer well being outcomes in comparison with different teams, however on the similar time are the identical those that face essentially the most challenges accessing care. As extra well being programs look to include help for social determinants of well being, we need to be their companions in specialty care.”
