Data-driven cancer care platform Preveta raises US $ 2 million

Preveta, a California (United States) based startup, announced on 26th March 2021 that it has raised US $ 2 million in its seed funding round. The round was co-led by TSVC and MaC Venture Capital.

Investors: TSVC is California, United States, based venture capital firm that predominantly invests in early-stage technology startups. It was founded in the year 2010 by Eugene Zhang and Chun Xia. Over the years it has made around 197 investments with excellent returns to its investors and carried out over 32 successful exits. Its current portfolio includes thriving companies such as Zoom, Carta, Ginkgo Bio, Quanergy, Metawave and more.

MaC Venture Capital is again a California based venture capital firm that was founded in the year 2019 by 

Adrian Fenty, Charles King, Michael Palank and Marlon Nichols. It, in its own words, invests in seed-stage technology startups leveraging shifts in cultural trends and behaviours. It has so far made around 140 investments and its portfolio includes companies such as Athena, Blavity, Artie, Aconite and more.

“I love the personal enthusiasm that Victor and Shirley had, as well as the expertise and being personally affected by cancer. At its core, we are confident that it will be a great company because of the team, but the bigger hope is that through AI and their unique use of data for patients, providers and clinicians, that their solution can be used in a broader context, as well as all over the healthcare arena.”—Adrian Fenty, managing general partner at MaC Venture Capital.

The new round of funding would be utilised by Preveta to support its sales and marketing efforts, and to create a brand for itself.

About Preveta:

Preveta was founded in 2018 by Steven Hu, Victor Lee and Shirley Lee as an innovative cancer care coordination platform for health care providers that helps improve patient outcomes.

The idea initially came to the Lees (Victor Lee and Shirley Lee) when they helped a friend of theirs through her stage 4 ovarian cancer. If being diagnosed was not a big enough blow, their friend had to face challenge after challenge to get timely and appropriate care. While this was happening, on the other side, the clinic run by Shirlee Lee had an effective coordination team that provided the needs of both her and her family.

It was then that she realised that a majority of cancer patients have the difficult task of navigating through the maze of the current healthcare system where obtaining a correct diagnosis and timely & suitable treatment is an arduous task.

Preveta seeks to solve this problem by providing healthcare workers with the data they need at the time of care to make a proper predictive analysis and deliver care the way it should be delivered.

What the CEO has to say:

“We gather the clinical protocols that a doctor or clinician has, bring them into an algorithm and then provide information that a nurse could use so that certain protocols are taken off of the provider’s plate. The care coordination platform gives them a workflow to follow you in a more specific way. There are also system alerts to make sure those get done.”—Victor Lee, CEO and co-founder of Preveta, explaining how it works.

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

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