BOSTON, Dec. 18, 2019 /PRNewswire/ -- OM1, a real-world outcomes and technology company, today announced $50 million in Series C financing led by Scale Venture Partners, with participation from existing investors, including General Catalyst (GC), Polaris Partners, and 7wire Ventures. In conjunction with the funding, Rory O'Driscoll, Partner at Scale Venture Partner, has joined OM1's Board of Directors.
"Clinical outcomes are the most important metric in healthcare," said Dr. Richard Gliklich, CEO and founder of OM1. "With this funding, OM1 will accelerate our work towards delivering rapid access to real-world outcomes and evidence and with helping our customers apply those data in impactful ways."
Increasingly healthcare stakeholders, including regulators, payer and providers, are seeking real-world evidence for supporting outcomes-based decision making. By organizing health information and applying artificial intelligence (AI) technology, OM1 helps customers generate and use real-world evidence more rapidly and effectively to gain regulatory approval, understand the effectiveness, safety and value of treatments, and personalize care.
"AI and data are driving factors in the transformation of many industries," said Driscoll. "OM1 is at the forefront of bridging these two in transformative ways in healthcare, and we are excited to be part of the journey to drive the better development of medicine and delivery of care."
OM1 focuses on specific therapeutic areas, including chronic conditions like immunology, rheumatology, cardiometabolic disorders, musculoskeletal conditions and central nervous system (CNS)/behavioral health. Among the products developed by OM1 are industry-leading therapeutic-focused registries for advancing medical research, such as in rheumatoid arthritis (RA) and systemic lupus erythematosus (SLE), and state-of-the art AI solutions for measuring and predicting outcomes for patients and populations.
The funding comes on the heels of a high-growth year for OM1 in which the company has seen more than 400% growth in year-over-year sales. OM1 will use the funding to continue the buildout of its data-driven solutions for real-world evidence, value-based care, and predictive medicine.
OM1 was founded in 2015 by Dr. Richard Gliklich, an Executive-in-Residence (XIR) at GC and the former founder of Outcome, a technology and services company focused on real world research and health outcomes that was acquired in 2011. Dr. Gliklich is also the principal investigator for a major federal effort focused on outcomes measurement and standardization.
For more information, visit www.om1.com.
Head of Marketing, OM1
OM1 is a leading real-world outcomes and technology company leveraging big clinical data and AI to better understand, compare, and predict patient outcomes. OM1's real world evidence platform, clinical registries and AI technologies enable clients to accelerate research, measure and benchmark health outcomes and to personalize patient care. Learn more at www.om1.com.
About Scale Venture Partners
Scale (@scalevp) invests in software companies that are building the intelligent connected world. Investments include: Bill.com, Box (BOX), Cloudhealth, Pantheon, Demandbase, DocuSign (DOCU), ExactTarget (ET), HubSpot (HUBS), JFrog, Lever, OneLogin, and WalkMe. Scale partners with entrepreneurs to support accelerated growth from the first customer to market leadership. Founded in 2000, Scale has over $1 billion under management and is located in Silicon Valley. For more information, visit www.scalevp.com.