Facebook co-founder helps digital health validation player to $12M round

Health apps

Evidation Health has raised $11.6 million. The financing round, which attracted cash from a VC shop set up by a Facebook ($FB) co-founder, comes 15 months after GE Ventures and Stanford Health Care got Evidation off the ground with a $6.2 million Series A round.

San Mateo, CA-based Evidation revealed details of the $11.6 million investment in a SEC filing that was spotted by MedCity News. B Capital Group, a VC shop set up by Facebook co-founder Eduardo Saverin, participated in the round, which represents the nascent investment organization’s first move into healthcare. Health is one of four sectors being targeted by B Capital as it looks to dole out the $143 million it raised in the first close of its fund.

Evidation established itself toward the top of B Capital’s list healthcare investment targets on the basis of its potential to tackle an emerging problem in digital health, namely how to assess the value of the plethora of tools now available. This focus has led Evidation to put together a team that spans data analytics, medtech and other fields, while also partnering up with innovationOchsner and PokitDok to gain access to data and study digital health outcomes.

Virtual Event

Virtual Clinical Trials Online

This virtual event will bring together industry experts to discuss the increasing pace of pharmaceutical innovation, the need to maintain data quality and integrity as new technologies are implemented and understand regulatory challenges to ensure compliance.

“Our company has the core capabilities to make precision digital medicine a reality,” Evidation CEO Deborah Kilpatrick said in a statement last year. “We envision a digital health-enabled future where clinical interventions can be customized and concentrated in ways that maximize clinical and economic benefit for payers, providers and, most importantly, patients.”

Information regarding how Evidation will use the additional cash to advance its business and overall goal is scarce. The company is yet to issue a press release regarding the financing round and declined to comment to MedCity News.

- read the SEC filing
- and MedCity’s take

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