Cardinal Analytx Solutions, a California-based population health management startup, has secured a USD22 million in Series B funding round to support hiring efforts and innovation. The funding round was led by venture capitalist John Doerr, along with GuideWell Mutual Holding Corporation, Blue Shield California and Premera Blue Cross. As per the announcement, Doerr, who serves as Chairman of Kleiner Perkins, will join Cardinal Analytx’s board of directors.
In a statement, Cardinal Analytx CEO Linda Hand said that “The new growth funding positions us to capitalize on our early commercial traction and robust pipeline.” She further noted that “We expect to quickly extend our leadership in the use of AI to accurately predict rising risk and future costs, and deliver actionable insights.” Founded by two Stanford professors Arnie Milstein and Nigam Shah in 2013, Cardinal Analytx Solutions utilizes Machine Learning to assist in spotting which people are likely to become high-cost members before a high-cost health event occurs. The company’s system evaluates individuals’ likelihood to benefit from an intervention. Then it works with clinician teams to coordinate interventions that bolster the quality of care and contain costs.
Earlier this year, Cardinal Analytx Solutions had formed a partnership with Premera Blue Cross, a Pacific Northwest-based health plan system. Initially, the plan first collaborated with Cardinal Analytx to take part in the design and validation of Cardinal’s system. Later a pilot, Premera determined to implement the solution with additional risk prediction models it helped design.