Navigating Cancer, a Seattle startup that makes software to help providers and patients manage cancer treatment, landed $26 million in a Series D investment round.
The funding was led by Merck Global Health Innovation Fund and TT Capital Partners. The American Cancer Society’s BrightEdge philanthropic venture fund also participated, along with LabCorp, Orix Capital Growth and Rustic Canyon Partners.
The startup’s total funding to date now stands at $44 million. The $26 million figure includes $12 million that GeekWire previously reported about in April.
“There’s an increasing realization that patient engagement leads to more effective care,” said Navigating Cancer CEO Bill Bunker, who joined the company a year ago after stints as CEO at EagleView and ClarityHealth. “A lot of the money that we’re raising is going to help us really dramatically change the patient experience.”
Bunker likened the platform to the diabetes care software sold by Livongo, a digital health startup that recently went public at a $2.3 billion valuation.
The end goal of Navigating Cancer’s software is to give patients a better experience and improve their adherence to treatment. Research has shown that more engaged patients have better outcomes, including reduced costs, higher adherence to medications and healthier behaviors.
“In order for a patient to get the right care at the right time in the right location by the right provider at the right price, there has to be a way to monitor side effects in real-time,” said Bob Crutchfield, managing director at the BrightEdge philanthropic fund. “We’re now giving patients the ability to download an app and not be tethered to that cancer center.”
Navigating Cancer was founded in 2008 and has grown rapidly in recent years. In the past year, the number of providers using the platform jumped 40 percent to around 1,700 today, and the company’s headcount doubled to 80 employees.
The startup plans to invest the money in its product, building out a stronger mobile app for patients and creating more AI-based population care features. Navigating Cancer partnered with healthcare giant McKesson earlier this year on an enhanced version of its patient relationship management software.
“In the oncology care experience, most of it happens when you’re not sitting in the doctor’s office,” Bunker said. “We’re investing heavily in enabling [patients] to be an active participant via mobile devices.”
Source: Geek Wire