Cardinal Analytx raises $22M for health spending prediction tool

Cardinal Analytx, a software startup based in Palo Alto, Calif., raised $22 million in a Series B funding round for its artificial intelligence-powered analytics tool to predict high-cost health events before they happen.

Participants in this funding round included Kleiner Perkins chair John Doerr, GuideWell Mutual Holding Corporation, Blue Shield California and Premera Blue Cross. The company has now raised a total of $28.1 million since it was founded in 2013.

The Cardinal Analytx machine learning platform serves both patients and providers. On the patient side, the tool identifies those at risk of rising costs and deteriorating health, and matches them with cost-saving, value-based interventions. Providers, meanwhile, can assess how a certain preventive  intervention could benefit a patient and follow a recommended action plan to ensure the best patient outcomes.

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