DURHAM, N.C., Feb. 16, 2021 /PRNewswire/ -- Pattern Health, a digital health company that accelerates digital health innovation, today announced they have received $1.5 million in new funding from investors Cofounders Capital and The Launch Place. The new capital will be invested in platform and product development, expanded integrations and interoperability, and in sales and marketing efforts designed to meet the increasing demand for digital health programs and support growth. The company anticipates making several new hires this year in various positions across the company.
This funding comes at an important time as more and more academic medical centers, research organizations, and commercial healthcare companies are relying on Pattern Health's solutions to research and develop new and novel digital health programs.
"The COVID-19 pandemic has forever changed how we deliver and receive healthcare and has proven to be a catalyst for digital health adoption by both providers and consumers," said Pattern Health CEO and co-founder Ed Barber. "We are excited to see the platform being used in a wide range of use cases such as researching new approaches for at-home testing for COVID-19, developing advanced algorithms to help identify patients who may be at higher risk for negative outcomes, and serving and protecting patients by delivering care and monitoring them remotely. improving access while reducing the risk of disease spread."
Pattern Health's no-code platform enables researchers and clinicians to create and deploy condition-specific digital health programs quickly and economically, collect data more rapidly, generate evidence, and when appropriate, translate programs into real-world, highly scalable solutions. The configurable platform supports a wide range of behavioral science-designed digital interventions that help to improve motivation and adherence, is HIPAA compliant and HITRUST certified.
In addition to the Pattern Health platform, the company also offers a marketplace to support the full life cycle of a digital health program. Customers using Pattern Health to research and develop new programs own the IP developed on the platform, creating longer-term, economically aligned, and more strategic partnerships. As research is validated, our marketplace solution streamlines the process of translating the IP into highly scalable real-world solutions that can be licensed for use by third parties under an app-store like revenue-share model.
"The traction that Pattern Health has seen recently shows the customer demand for an easier way to build digital health programs," said Tobi Walter, Principal at Cofounder Capital. "We are excited to join a team of serial entrepreneurs that have already built a very sizable business for their next stage of growth."
About Pattern Health
At Pattern Health, we believe that thoughtfully built technology can inspire and accelerate digital health innovation to deliver more impact with less hassle. Our HIPAA-compliant and HITRUST-certified platform enables researchers and clinicians to quickly and cost-effectively develop, validate, and commercialize a wide range of condition specific digital health programs. To date, the company's solutions have been licensed and integrated by a rapidly expanding network of customers, including 11 of the top 20 academic medical centers in the United States, 6 of the top 10 pharmaceutical companies globally, and a growing number of commercial healthcare companies. For more information, visit pattern.health
Chief Growth Officer
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SOURCE Pattern Health