– USA, CA – Evidation Health today announced the close of $45 million in Series D funding led by B Capital Group alongside new investors McKesson Ventures and Section 32 as well as existing investors Revelation Partners, Rethink Impact, and SV Health Investors.
As part of the financing, Adam Seabrook from B Capital, has joined the Board of Directors.
The funds will be used to power the expansion of its privacy-first, direct-to-person research platform, Achievement, to include virtual health. The company will use this new capital to build upon its existing evidence generation capabilities to offer real-time insights and digital tools to its network of nearly 4 million individuals.
Sam Marwaha, Senior Partner at Boston Consulting Group and long-time advisor to Evidation, joins the company as Chief Commercial Officer.
The company will leverage this investment to continue to rapidly grow its study solutions business and offer programs that enable Achievement members to gain clinically actionable insights into their health. These include relevant digital interventions, treatments, and tools to help individuals understand and take advantage of the latest evidence, in partnership with their care teams. The first of these new virtual health offerings is slated for release later this year. Evidation will continue to expand and diversify the Achievement population — already the largest and most demographically and geographically diverse connected cohort in the United States — to serve additional at-risk and disease-specific cohorts. Achievement already includes participants residing in all 50 states and in 9 out of every 10 ZIP codes nationwide.
“Participation in research is an activator for individuals to better understand their health and seek care proactively,” said CEO Dr Deborah Kilpatrick. “The natural next step for Evidation is to decrease the latency between evidence and action by offering virtual health programs, while still keeping privacy and consent at the forefront. We are especially excited to have Sam Marwaha, a pioneer in real-world evidence and an experienced digital health strategist and operator, join us to lead our commercial endeavors as the company ushers in a new era of self-activated care.”
Marwaha will lead Evidation’s commercial strategy as it brings its new offerings to market. A 20-year industry veteran, Sam will strengthen and broaden partnerships with life sciences companies as they innovate with patients, providers, and payers. He will also scale Evidation’s marketing and business development teams and shape new opportunities to help people achieve better outcomes through virtual health.
“Evidation is a learning engine directly connected to four million people, making it possible to understand real-life indicators of health quality and disease progression, reflecting behavioral and social factors,” said Marwaha. “Evidation can drive personalized, consented engagement with individuals in the safety and convenience of their homes, empowering them to be partners in their own health.”
“Healthcare needs Evidation more than ever before,” said Raj Ganguly, co-Founder and Managing Partner at B Capital Group. “Evidation’s technology has the potential to realize new ways for individuals, providers, biopharma, and payers to understand and react to health in real life. Today’s announcement marks the company’s next step toward achieving that goal and we are pleased to continue our partnership with the company as investors.”
“We see tremendous value in generating real-world data for both clinical development and commercial life sciences use cases, ensuring the best possible understanding of a population inside and outside the clinic,” said Carrie Hurwitz Williams of McKesson Ventures. “The discipline, rigor and scale with which Evidation has built their technology makes it possible to garner relevant real-world data points and transform them into meaningful insights for pharma.”
This funding and C-suite hire caps off a fast-paced growth period for Evidation. Eight of the top 10 global biopharma companies rely on Evidation for person-generated health data, including passive sensor data, electronic patient-reported outcomes, and at-home diagnostics. Johnson & Johnson, Apple, and Evidation recently launched the ongoing Heartline Study, the largest randomized trial in the history of cardiovascular disease. Evidation is also working with a diverse cross-section of partners in industry, academia, government, and civil society, including the Icahn School of Medicine at Mount Sinai, the Biomedical Advanced Research and Development Authority, and the Bill & Melinda Gates Foundation, on efforts to better detect, characterize and predict COVID-19 using PGHD.
“COVID-19 has shown us that accelerating real-world evidence development is critical,” said Mike Pellini, MD, Managing Partner of Section 32 and former CEO and Chairman of Foundation Medicine. “Evidation has led the way in health measurement and has proven out the potential of person-generated health data. The company is optimally positioned to lead the way into a new era of individualized healthcare.”
About Evidation
Evidation measures health in everyday life and enables anyone to participate in ground-breaking research and health programs. Built upon a foundation of user privacy and control over permissioned health data, Evidation’s Achievement platform is trusted by millions of individuals—generating data with unprecedented speed, scale, and rigor. We partner with leading healthcare companies to understand health and disease outside the clinic walls. Guided by our mission to enable and empower everyone to participate in better health outcomes, Evidation is working to bring people individualized, proactive, and accessible healthcare—faster. Founded in 2012, Evidation Health is headquartered in California with additional offices around the globe.
For more information: https://evidation.com
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
