Memora Health, a San Francisco startup developing software for managing complex health conditions, announced Tuesday that it raised $30 million in new funding, bringing its total raised to more than $80 million.
The company didn't assign a specific round to the new funding, but it comes a little over a year after Memora raised $40 million, which Pitchbook shows as being a Series B round.
"We’re not labeling it because it’s purely strategic and not something we intended to raise," Sevak told Axios, noting that it was an opportunity to "structure more meaningful partnerships" and "work more collaboratively" with health care providers.
The new funding round was led by General Catalyst and also included Northwell Holdings, NorthShore Edward-Elmhurst Health, PagsGroup, Andreessen Horowitz, Transformation Capital and Frist Cressey Ventures.
Memora was founded by CEO Manav Sevak, CTO Kunaal Naik and Nisarg Patel in 2017. They used their combined experiences in computer science, biochemistry and medicine to develop software that would improve patient care experiences and outcomes particularly for complex conditions.
The company provides tools for managing maternal care, surgery, cancer, gastrointestinal conditions, chronic diseases and population health, according to its website.
“Health systems just did not have good infrastructure to manage and support their patients after they left the walls of the hospital … The technology stack is very much designed around managing a patient when they’re in front of you and helping you bill for the work that you’re doing. It’s not necessarily designed to deliver care and to support those patients,” Sevak told Bay Area Inno last year.
After patients opt in to Memora's service, the company uses artificial intelligence to monitor and adapt to patients' needs and their specific conditions. It then delivers appropriate information about reminders, appointment scheduling, educational material and other instructions.
It also provides remote monitoring and reduced manual work for health care providers, saving employees 2.5 hours worth of daily work, according to its website.
