Nference matches B round with a new $60M financing, eyes coronavirus work


It’s been a good end to the year for data analytics firm nference, ending the year as it started: with a $60 million funding round and a deal with the Mayo Clinic.

Back in January, Massachusetts-based nference raised a $60 million series B and penned a pact with Mayo focused on building out an artificial-intelligence-powered engine that will collate its years of clinical research and pathology work into something more searchable.

And it's déjà vu for the firm, which has raised another $60 million in a series C round and boosted its Mayo relationship as the medical center doubles down on nference with its venture arm funneling more cash into the firm.

What’s different from the start of 2020 is the pandemic. With its new cash, nference says it will also now also focus on “biomedical data analytics to better understand novel coronavirus,” the virus causing the COVID-19 pandemic.

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This includes its recent project aimed at understanding the characteristics of the SARS-CoV-2 virus transmission, the symptoms and progression of COVID-19 and “diagnostic predictions of chronic and life-threatening conditions such as pulmonary hypertension,” according to the company.

“Nference—a science-first software company—continues to push the boundaries of augmented intelligence to accelerate the work of our expert scientists and technologists in making biomedical knowledge computable via our nferXTM software platform,” said Murali Aravamudan, co-founder and chief executive.

“This funding enables expansion of our portfolio, which is catalyzing development of meaningful diagnostics and therapeutics. We have built a transformative company, led by a world-class team, addressing complex problems in the life sciences that promise to ultimately improve patient outcomes and the lives of people on a global scale.”