Holmusk Announces Closing of US$21.5 Million Series a Funding Round, Led by Optum Ventures

By AIT News Desk On May 18, 2020

Holmusk, a leading data science and health technology company, announced a US$21.5 million funding round. The round was led by Optum Ventures (OV) and Health Catalyst Capital (HCC) and included existing investors Heritas Capital and other individuals.

Holmusk is building the world’s largest Real-World Evidence (RWE) platform in behavioral health and chronic diseases to expand data-driven, evidence-based care for people managing behavioral health conditions. This is made possible by bringing together specialty behavioral health data and Holmusk’s novel analytics platform to deliver evidence-based insight that care providers, health care payers and patients can use to make fully informed care and treatment decisions, and better integrate care for people with both behavioral and chronic health needs. These capabilities can also aid pharma companies with R&D and commercialization of new drugs.

In 2016, Holmusk acquired MindLinc, an Electronic Health Record (EHR) system focused on behavioral health, from Duke University School of Medicine. This enabled the company to leverage longitudinal data from many mental health institutions across US, stretching over 20 years.

Founded in 2015, Holmusk is headquartered in Singapore with offices in New York City, London and Shanghai. Holmusk was recognized as a Technology Pioneer in 2019 by the World Economic Forum and is part of the Innovations in Healthcare’s 2020 Innovator Cohort. The new funding round allows Holmusk to expand its US operations in New York City, and enables investment in its proprietary technology to harness and analyze real-world data to accelerate drug development and data-driven medicine.

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Dr. Vijay Barathan from Optum Ventures (OV) and Charles Boorady from Health Catalyst Capital (HCC) will be joining the Board of Directors.

“Our team is encouraged by Holmusk’s evidence-based approach to improving care for people suffering from behavioral health disorders, and we look forward to working closely with the Holmusk team to support the next phase of growth” said Dr. Vijay Barathan of Optum Ventures.

Charles Boorady of Health Catalyst Capital said “by redefining the EHR 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.”

“In situations like today, the need for Real-World Evidence is more pronounced than ever,” said Nawal Roy, Holmusk’s Founder & CEO. “We are fortunate to bring on partners like Optum Ventures and Health Catalyst Capital who understand the importance and are excited to join us in our mission to drive evidence-based care.”