Verana Health, a San-Francisco based digital health startup delivering quality medical practice insights and drug lifecycle from real-world data, has raised US$ 150 million in a Series E funding round co-led by Novo and Johnson & Johnson Innovation on 14 January 2022.
Investors: The latest investment round featured Novo and Johnson & Johnson as the lead investors with participation from Casdin Capital, Breyer Capital, GV, Merck Global Health Innovation and several others. The startup has managed to raise, in total, over US$ 288 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards further developing its health product and service tactic across the drug industry and increasing value addition to healthcare suppliers. It also aims to grow its market presence across the medical sector and make collaborations.
About Verana Health
Brought to existence in 2018 by Mark Blumenkranz, Verana Health enables healthcare partners to develop meaningful business insights, robust real-world evidence and drive medical innovations that spur the importance of quality of life and care. VeraQ functions as the firm’s population health data engine and safely fuels the data integrity response loop. Managing data of over 20,000 healthcare providers and dealing with 70 electronic health record systems, the company has been entrusted by major speciality medical fraternities. The firm operates as the exclusive data partner of the American Urological Association, American Academy of Neurology, American Academy of Ophthalmology.
What the CEO has to say: “We are grateful to both our new and existing investors for joining hands with us and showcasing faith in our strong foundation. Our strong base has been established through VeraQ, which works as an efficient data engine. Obtaining support from a unique combination of growth firms, life sciences innovation funds, and academia pleases us the most. These firms have deciphered our momentum to propel real-world evidence, as we have partnered with some of the finest pharmaceutical companies and collaborated with three speciality medical societies.”- Sujay Jadhav, CEO of Verana Health.
What the Investor has to say: “Verana Health has witnessed exponential growth owing to its collaboration with significant pharmaceutical companies and medical societies. It’s a pleasure to become a part of its pool of investors. We are extremely positive about working with them to develop insights which enable optimising quality of care for patients.”- Jeffrey Low, Managing Direct and Principal at Novo Growth.
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