Evidation Health leverages corporates to raise $153m

Evidation Health, a US-based health data analysis provider, has picked up $153m in a series E round co-led by healthcare consortium Kaiser Permanente’s Group Trust.
The round was co-led by Omers Growth Equity, a fund managed by pension fund Ontario Municipal Employees Retirement System, and included McKesson Ventures, the corporate venturing arm of medical supplies distributor McKesson, as well as venture capital firm B Capital Group.
Evidation’s technology platform, Achievement, records raw behaviour data such as speech and video from patients’ electronic devices and analyses it to provide insights on health and disease. The round valued it at $1bn, according to Bloomberg.
The company was founded in 2012 through a partnership between Stanford University and GE Ventures, a corporate venturing subsidiary of industrial technology conglomerate General Electric.
It will use the funding to expand the number of virtual health programmes on Achievement.
B Capital Group led Evidation’s $45m series D round, in July 2020, which was backed by McKesson Ventures, Section 32, Revelation Partners, Rethink Impact and SV Health Investors.
Evidation collected $30m of series C funding in a 2018 round co-led by B Capital Group and SV Health Investors, with participation from GE Ventures and Sanofi Ventures, the corporate VC subsidiary of pharmaceutical firm Sanofi.
Sanofi Ventures (then operating as Sanofi-Genzyme BioVentures) had previously led a $10m funding round for the company in 2017 that also featured GE Ventures and B Capital Group.
B Capital Group had led a $15m series B round for Evidation the year before, investing together with GE Ventures, AMV, Fresco Capital and Pappas Ventures. It came after GE Ventures, Rock Health Seed Fund and Asset Management Ventures had provided $6m of series A funding in 2015.
– A version of this article first appeared on our sister site, Global Corporate Venturing.