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.