Lumeon, a digital health startup that specializes in care pathway orchestration, has closed $30 million in Series D funding.
The round was led by new investors Optum Ventures and Endeavour Vision, with participation from current investors LSP, MTIP, IPF Partners, Gilde and Amadeus Capital Partners.
The funding comes at just the right moment for Lumeon, which has adapted its platform to new uses necessitated by the coronavirus pandemic. At its core, Lumeon provides an orchestration layer overlaid on medical records systems to streamline the billing and documentation process for health care providers. The startup has also built a clinical decisioning engine linked to an automation platform, which allows the team to quickly create new processes as needed.
"We created a virtual waiting room protocol, which allows us to determine which patients need to come in and which patients could have avoided visiting," said founder and CEO Robbie Hughes. "Then it allows them to check in by text and guides them into the appointment at the very last minute. It's a very small thing, but actually incredibly important, to avoid face-to-face contact."
Lumeon also built a similar, but more powerful, system with clinical partners in New York. The startup created a virtual emergency room that enabled health care providers to manage triage, safely discharge patients and monitor patients remotely.
Lumeon turned around that project within about a week in the very first weeks of the pandemic, Hughes said.
"It's solutions like that which are kind of key to demonstrating a lot of the power of the platform," he said.
It was also those solutions that led to renewed investor interest. Lumeon began raising its Series D round at the beginning of the year and had just begun securing investors when the pandemic slammed the U.S. in March. The weeks afterward were a bit panicked, but then, Covid-19 actually helped drive interest in Lumeon's platform, Hughes said. The startup closed the round earlier this summer.
With the new funding, Lumeon plans to hire about 50 people in the Boston area over the next six months, specifically growing its sales, marketing and delivery teams. Lumeon will also work to extend the reach of its care pathway management platform.
"Boston, for us, is a great environment," Hughes said, adding that the city's medtech players are very connected, even remotely. "The sense of community, even an extended community, in an environment like Boston, is still very important for companies."
