Patient data company PicnicHealth lands $60M

PicnicHealth, a tech company that collects and digitizes patients' medical records, closed on $60 million in series C funding June 27 to expand its digital research tool.

That platform allows biotech companies to study real-world patient data to find treatments for such specialties as hematology, neurology and rare diseases. PicnicHealth said it plans to use the funding to assemble new datasets for 30 more medical conditions. 

"Every day, across our healthcare system, we make decisions without the full benefit of data on what’s happening to patients out in the real world — what diseases really look like outside of narrow clinical trial populations, which symptoms matter most for patients’ quality of life, or which patients are actually benefiting from a particular treatment, to name a few," Noga Leviner, CEO and co-founder of PicnicHealth, wrote in a blog post.

"And whether it's a physician, a regulator, a drug developer or an insurance company making the decision — the impact on patients is real."

The investment round was led by B Capital Group and brings PicnicHealth's total funding to more than $100 million.

Adam Seabrook, partner at B Capital, said PicnicHealth — "with its easily accessible and detailed patient data — is well-positioned to be a leader" in healthcare's digital transformation, according to a PicnicHealth news release.

Robert Mittendorff, MD, head of healthcare at B Capital, added that the company "breaks through the long-standing data silos in healthcare to put critical information in the hands of the people who need it most."

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