Biofourmis, a Boston, Massachusetts-based global leader in virtual care and digital medicine, announced it raised a $300 million Series D investment with a valuation of $1.3 billion. To date, Biofourmis has raised a total of $445 million in funding.
The round was led by General Atlantic. CVS Health (NYSE: CVS) and existing investors including SoftBank Vision Fund 2, Openspace Ventures, MassMutual Ventures, Sequoia Capital, and EDBI also participated in the round.
With this investment, Biofourmis plans to scale up its virtual care offerings. Biofourmis also aims to use the funding to continue strengthening its position in the value-based care market. Value
Biofourmis also announced that former Medtronic CEO and Chairperson at Intel, Dr. Omar Ishrak, will join the company's Board of Directors as Chairman.
Company: Biofourmis Inc.
Round: Series D
Funding Month: April 2022
Lead Investors: General Atlantic
Additional Investors: CVS Health, SoftBank Vision Fund 2, Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI
Company Website: https://biofourmis.com/
Software Category: AI-powered health analytics
About the Company: Founded in 2015, Biofourmis is a global leader in providing advanced technology and clinical support for Care@Home and digital therapies. Biofourmis clinically validated platform, powered by machine learning and advanced analytics, enables better healthcare, maximizes the effectiveness of high-value drugs, and lowers costs across the entire care continuum. Biofourmis has built Biovitals®, a highly sophisticated personalized AI-powered health analytics platform that predicts clinical exacerbation in advance of a critical event, which is the backbone of their digital therapeutics’ product pipeline across multiple therapeutic areas—including heart failure, oncology, acute coronary syndrome, COPD and chronic pain.