|By Business Wire||
|January 8, 2014 09:06 AM EST||
Lumiata, a provider of predictive analytics around medical science and patient data, announced today that it closed $4 million in Series A financing from Khosla Ventures. This funding will be used to refine and commercialize the health care industry’s first medical graph-based predictive analytics engine, which is currently being piloted by major hospital networks and health insurance carriers to deliver better-informed patient care.
“There is little debate that health care delivery is lacking today – both in its quality and its affordability. Lumiata has created a new predictive engine to help turn the practice of medicine into a science,” said Vinod Khosla, founder of Khosla Ventures, a leading investor in transformational health care. “Lumiata’s medical graph helps providers ensure they’re giving the right care, at the right time, from the right person so they can deliver better value-based health to more patients.”
Formerly known as MEDgle, Lumiata’s mission is to democratize medical science so that all kinds of medical staff – from advice nurses, to physician’s assistants, to doctors – can apply higher quality health care at a lower cost. The company collects massive amounts of medical science data, organizes it in rich, inter-connected graphs similar to Facebook’s social graph, and produces key insights for patient care. Health providers can run anonymized medical records, genetic information or sensor data through Lumiata’s graph to receive hyper-personalized predictions and recommendations for individual patients.
With instant access to Lumiata’s real-time predictive and prescriptive analytics regarding symptoms, medications, risk factors and diagnoses, first-line staff can elevate their day-to-day care. The engine’s guidelines and protocols help nurses easily determine what questions to ask a patient and make knowledgeable decisions before and during a patient visit, such as which labs to order or which procedures to recommend. This approach also maximizes doctors’ productivity by marshaling the finest medical science at their fingertips, so they can determine diagnoses and treatment plans earlier and faster than ever before.
“We believe that data-driven medical decisions can drive high quality, optimized care at a much lower cost,” said Ash Damle, founder and CEO of Lumiata. “At Lumiata, we’re providing the best of medical science on-demand with a ‘GPS’-like health navigation system. First we triangulate an individual’s health, and then we calculate their best routes to getting and staying healthy. These small, but life-changing insights are the result of lots of sophisticated big data science.”
Behind the scenes, Lumiata’s technology ensures accurate health care predictions by combining the brilliance of the best physicians with the analytic power of big data. The company has crunched over 160 million data points from hundreds of relevant sources – including over seven million pages from textbooks and medical journals, and more than 100 gigabits of public data from the Centers for Disease Control, the National Institutes of Health, the World Health Organization and more – and spent over 20,000 physician hours to confirm the quality of its resulting insights. Its algorithms turn raw data about tens of thousands of symptoms, diagnoses, procedures and medications across ages, genders and lifestyles into curated, usable big knowledge to dramatically improve the delivery of health care.
Lumiata’s real-time predictive analytics are available via Application Programming Interfaces (APIs). These APIs can be used to pull both aggregate and specific patient insights into the systems, devices and daily workflows that hospitals and insurers already use during patient interactions. In the future, Lumiata will also leverage its medical graph to give individuals the data they need to optimize their own health and wellness every day.
Lumiata’s management team and advisory board include board-certified physicians, data scientists, and evidence-based medical researchers. Its CEO, Ash Damle, founded the company to synthesize fifteen years of research on applying practical artificial intelligence. His background includes developing web-scale artificial intelligence solutions at Massachusetts Institute of Technology, the U.S. Navy, California’s Department of Corrections and Rehabilitation and J.Crew. In addition, Euan Thomson, investment partner at Khosla Ventures, is joining the company’s board of directors and brings over fifteen years of experience as a scientist, physicist and researcher in the United Kingdom’s health care system.
Founded in 2013, Lumiata (formerly MEDgle) applies big data-driven medical science to patient data in order to optimize every health care interaction. The company delivers real-time predictive analytics that help hospital networks and insurance carriers provide higher quality care to more patients in less time. To produce accurate insights and predictions related to symptoms, diagnoses, procedures and medications, Lumiata developed the world’s first medical graph, which organizes and analyzes hundreds of millions of valuable data points. Lumiata is a venture-backed company based in Silicon Valley and composed of clinicians, data scientists, and experts in care delivery. More information is available at www.lumiata.com.
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough technologies in clean energy, mobile, IT, cloud, big data, storage, health, food, agriculture and semiconductors. Vinod Khosla founded the firm in 2004 and was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Khosla Ventures is based in Menlo Park, California. More information is available at http://www.khoslaventures.com.
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