NEW YORK, April 21, 2021 /PRNewswire/ -- pulseData, a New York City-based healthcare data science company, focused on predictive algorithms for Chronic Kidney Disease and other chronic diseases, today announced $16.5 million in Series A funding led by Bain Capital Private Equity and Two Bear Capital, with participation from Alumni Ventures Group and existing investors. The CDC shows that 40% of adults with late stage Chronic Kidney Disease (CKD) do not know they have it. pulseData's proprietary algorithms identify individuals who are likely suffering from CKD, frequently even before a diagnosis claim is found. In addition, pulseData's algorithms predict who is headed towards kidney failure, enabling early and proactive intervention. Its customers include Medicare Advantage plans, Commercial health plans, self-insured employers, risk-bearing health systems, Accountable Care Organizations, and providers participating in value-based care. Through proactive identification and engagement of CKD members at risk, clinical interventions can reliably reduce total cost of care.
Hai Po Sun, Co-Founder and CTO said, "I started pulseData with a team of domain experts in engineering, product design, and healthcare data because renal disease has had an immense impact on my family. After watching an uncle die from kidney failure and then witnessing my mother undergo years of dialysis, I wanted to harness my Quantitative Modeling and Predictive Analytics expertise from Wall Street and apply it towards Kidney and Chronic Care."
Teddy Cha, Co-Founder and CEO adds: "Chronic disease is tragic when preventable. That's why our team built a way to predict which individuals are going to need dialysis and when. By sharing this information with payers and providers, our clients are able to deliver the right care at the right time to the right people. When this happens, chronic disease sufferers get a chance to manage their disease, avoid catastrophic outcomes, and live much better lives."
There are 100 million Americans suffering from chronic comorbidities. The only way to provide them with better outcomes and decrease the cost on the American healthcare system is by proactively caring for those in-need and at-risk before their health declines precipitously. By matching the right people with timely, proactive care, the US healthcare system would save one trillion dollars a year. pulseData partners with traditional care providers to help them understand precisely which patients need care and when. The Centers for Medicare and Medicaid Services (CMS) is using value-based models in kidney care as a blueprint for addressing chronic illness, unlocking a healthier America.
"pulseData has built the best data intelligence platform for predicting the progression of kidney disease," said Danielle Wang, Senior Vice President at Bain Capital. "pulseData's models equip local care teams to deliver the highest quality care to the most at-risk patient cohorts. We're excited about the results pulseData has achieved. We look forward to partnering with Teddy, Hai Po and the rest of the management team to improve kidney care for patients."
"The future of healthcare will depend on leveraging advanced technologies that keep patients healthier and costs lower. pulseData is focused on having exactly this impact on renal disease, a chronic condition that affects millions of patients and costs the healthcare system over $100 billion a year," said Mike Goguen, Founder and Managing Partner of Two Bear Capital. "We're excited to continue our partnership with such a brilliant and mission-driven team of entrepreneurs."
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pulseData (www.pulsedata.io) is a NYC-based startup building a suite of artificial intelligence solutions which predict the progression of chronic kidney disease and cardiorenal comorbidities. pulseData works on the forefront of value-based care as the technology layer that precisely matches at-risk patients to proactive, multidisciplinary care.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of approximately 265 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 21 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital and real estate, managing approximately $120 billion in total and leveraging the firm's shared platform to capture opportunities in strategic areas of focus.
About Two Bear Capital
Two Bear Capital (TBC) was founded and is led by veteran Silicon Valley venture capitalist and philanthropist Michael Goguen. TBC seeks to invest in the most promising early-stage companies working at the intersections of healthcare, biotechnology, bioinformatics, artificial intelligence/machine learning, and cybersecurity to solve some of today's most urgent problems.
TBC's investment team is based in Whitefish, Montana, the San Francisco Bay area, San
Diego, and Boston. To learn more, visit (www.twobearcapital.com) and follow TBC on LinkedIn.