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Lumiata Raises Series B Funding Co-Led by and AllegisNL Capital

Lumiata Sees Rapid Growth in Demand and Adoption of AI Applications for Healthcare Amid the COVID-19 Volatility and Risk

AI for Healthcare company, Lumiata announced that it had completed $14 million in Series B funding. The round was co-led by venture capital firms and AllegisNL Capital along with existing investors Khosla Ventures and Blue Venture Fund. Lumiata is modernizing how risk and care are managed in healthcare. The friction-free predictive applications and machine learning tools enable healthcare companies to build and expand their AI capabilities. Lumiata will use the funding to scale its enterprise-grade AI platform and invest in customer acquisition and success.

The company plans to open a new office in Guadalajara, Mexico in 2021. “Lumiata is breaking new grounds in the adoption of AI across healthcare’s core functions. We relaunched Lumiata two years ago with a mission to democratize AI to reduce the cost of care and improve outcomes. We have an even greater purpose to realize this mission as COVID-19 changed healthcare and our world forever,” said Lumiata CEO Dilawar Syed. “We will accelerate our investment in product, customers, and people to grow and scale the business.”

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“Lumiata excels at building trusted relationships with its customers,” said Dalbir Bains, FGC
Health’s chairman, president and CEO, a Lumiata customer. “They have delivered results that help
us manage consumer risks for co-morbidities. Our long partnership means that we can depend on
them long-term to help us manage our pharmacy business.”

Lumiata’s suite of products includes predictive applications for healthcare business teams to
manage underwriting and clinical costs and risks for improved decision support, transparency, and
patient centricity. Lumiata’s machine learning toolkit is purpose-built for healthcare data
scientists to build and deploy predictive models with speed and ease. Lumiata’s automated data
management, pre-built models, and AutoML capabilities provide a low-code option for healthcare
organizations with limited data science expertise.

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“The Lumiata team has done an amazing job bringing to market a powerful AI platform that is
easy for business analysts to use from day one while providing the capabilities data scientists
require,” said Victor Westerlind, Managing Director at AllegisNL Capital. “We are excited to work
with this team as they accelerate their customer traction and continue to grow their company.”
“Lumiata is moving healthcare forward,” said Neil Sequeira, Co-founder, and Partner,
“Our firm believes that investing in Lumiata will accelerate AI and machine learning and have a
material impact on the industry.”

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