Medication Management Platform Medisafe Raises $30 Million

Digital therapeutics company Mediasafe has raised $30 million in a Series C round, according to a company press release.

With the new funding, Mediasafe plans to expand its end-to-end solutions to support patients, manage medications and accelerate growth of revenue. The company provides artificial intelligence (AI)-driven medication management solutions along a patient’s healthcare journey.

The round was led by Sanofi Ventures and ALIVE Israel HealthTech Fund, joined by Leumi Partners, Menorah Mivtachim and Consensus Business Group, previous investors Pitango HealthTech, 7wireVentures, M Ventures, Octopus Ventures, lool Ventures, Triventures, Ourcrowd, and Qualcomm Ventures, the release says.

In addition, there will also be new additions to the board of directors including Cris De Luca, global head of digital investments at Sanofi Ventures and David Klein, Co-Founder, Managing Partner ALIVE Israel HealthTech Fund, the release says.

Omri Shor, CEO and co-founder of Medisafe, said the investment “allows Medisafe to expand holistic treatment support for patients to impact behavior change and ultimately outcomes.

“Medisafe is continuously advancing its technology to meet the dynamic needs of patients managing complex therapies,” he said, according to the release. “The future model of patient support is not purely digital but adaptable to empower human connections. In fact, we are seeing impressive results connecting clinicians and caregivers into the support solutions with adoption rates 4x that of pure digital and increasing nurse-to-patient connectivity by 1.8x. We are excited to build out further capabilities to meet the evolving needs of the industry.”

PYMNTS writes that there’s a collection of issues — including lack of personal protective equipment (PPE) and hospital beds and the bidding war that took place last year between states for ventilators — which point to a lack of innovative healthcare technologies.

Menlo Ventures Principal Croom Beatty told Karen Webster last year that there need to be upgrades to the healthcare vertical, which seems like it should be easy, but hasn’t been due to the antiquated electronic data interchange (EDI) system, and that before 2009, most health care records were paper files.

But Beatty says he believes things could get better, with a number of entrepreneurs putting in the work.