Investors treat PicnicHealth to $35m

PicnicHealth, a US-based patient medical database provider backed by Stanford University’s StartX Fund, disclosed $35m in funding yesterday from investors led by Felicis Ventures and Amplify Partners.
The amount includes a $25m series B round recently raised that was led by Felicis Ventures and backed by Amplify Partners, in addition to $10m of series A capital in 2018 led by Amplify Partners.
Foresite Capital, Y Combinator and Refactor Capital were all identified as investors however PicnicHealth did not specify the round in which they had participated.
Founded in 2014, PicnicHealth has created a software platform where patients can access medical records held with multiple doctors and healthcare systems based in the US within a centralised online dashboard.
Patients using the portal can also opt to contribute anonymised medical information to aid clinical research, and PicnicHealth has a strategic partnership in place with pharmaceutical firm Roche.
The funding will help introduce variants of its software for additional disease indications and assemble new data to enable clinical research.
PicnicHealth will also look to enhance its core technology across machine learning, clinical informatics and general software engineering.
Sundeep Peechu, managing director at Felicis Ventures, and Sunil Dhaliwal, general partner at Amplify Partners, have both joined the board of directors.
PicnicHealth raised $2m in a 2015 seed round featuring Stanford StartX, Social+Capital, Great Oaks, Slow Ventures, Y Combinator partner Paul Buchheit and assorted angel investors.
Noga Leviner, CEO of PicnicHealth, said: “PicnicHealth started as a way to give patients more control navigating their own care. We quickly realised we were actually solving a much bigger problem by turning each patient’s messy, dispersed data into structured data.
“The result not only helps patients directly but it also really moves the needle on research.”