iCarbonX, a Chinese health-related data mining and analysis firm, has joined a $8.4 million Series B financing round in HealthLoop, a California-based platform for automated doctor-patient interaction, according to a company announcement on Monday.
iCarbonX plans to integrate HealthLoop’s patients-generated data to advance its data mining technology and help establish its digital life ecosystem. Meanwhile, the American company will use the Series B funding to expand its market and enlarge its business teams.
“The investment in HealthLoop is in line with our strategic planning. The big data era of life sciences has just been launched, whereas a lot of previously dismissed healthcare data has just begun to show its significance,” said Jun Wang, founder of iCarbonX. “The HealthLoop platform has done an excellent job in connecting patients and doctors, tracking patients’ recovery process and mining patients’ data. All of these are essential components of iCarbonX’s digital life ecosystem.”
Founded by Dr. John Shlain in 2009, HealthLoop helps to digitally connect patients with their doctors and care-givers. The platform is designed to keep track of patients’ illness and uses analytics engine to provide real-time analysis. It claims to facilitate over 500,000 patient interactions every month.
“When patients return from hospitals to the real world, they will be confronted with a whole series of problems that influence their post-hospital recovery in ways that are difficult to predict. But if we build a relationship with them, we can be there throughout the process to support them. And the further we can take that, the better it will be for patients’ lives and the better the outcome will be,” Dr. Shlain said. “The important thing is that the technology exists. What we’re looking for is the imagination and the right healthcare players to recognize that opportunity and embrace it.”
The Chinese firm announced in January that it had invested a total of nearly $400 million in the seven companies — SomaLogic, HealthTell, PatientsLikeMe, AOBiome, GALT, Imagu and Robustnique — to form iCarbonX’s Digital Life Alliance.
Established in October 2015, iCarbonX took only six months to achieve a $1-billion valuation and become the world’s fastest unicorn after Tencent Holdings led a RMB1-billion ($155 million) Series A round in April 2016.