SG health tech startup Holmusk closes $21.5m Series A round

Photo by Luis Melendez on Unsplash

Singapore-based digital health and data analytics company Holmusk has secured $21.5 million in Series A funding, the company said in a statement on Monday.

The round was led by Optum Ventures, the Boston-based $250 million venture fund unit of managed healthcare company UnitedHealth Group, and New York-based VC Health Catalyst Capital.

Existing investor Heritas Capital, a Singapore-based private equity and venture capital firm, also participated in the round. Heritas Capital led Holmusk’s $9.75 million pre-Series A round in 2018, and followed on through in the current round through its Heritas Venture Fund.

Holmusk is building a Real-World Evidence platform to provide data-driven care for mental health and chronic illnesses. It claims to use specialty behavioural health data and its analytics platform to deliver evidence-based insights to enable fully informed care and treatment decisions. The analysis can also aid pharmaceutical companies with the research and development, and commercialisation of new drugs, the company said.

According to Holmusk, the new funding round will allow it to expand its US operations in New York City, as well as enable further investment in its technology to accelerate drug development.

“By redefining the EHR [electronic health record] from a repository of data to a clinical decision support tool with connectivity to digital therapeutics, Holmusk is uniquely positioned to improve patient care while reducing administrative burden and supporting the research and development of new care models and therapies,” said Charles Boorady of Health Catalyst Capital.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.