Lumiata Raises $14M to Predict Healthcare Outcomes

Organizations within the healthcare industry are consistently seeking methods to reduce expenditures, and a company named Lumiata recently secured $14 million in funding to further develop its platform designed to assist them in achieving this goal. 

The company, previously supported by Khosla Ventures and Blue Venture Fund, obtained this latest investment from Defy.vc and AllegisNL Capital. 

Lumiata’s technology refines healthcare data and subsequently examines it to identify potential underwriting hazards and opportunities for cost reduction for both healthcare payers and providers.

The company stated that these funds will be allocated to expedite the development of new offerings and enhance sales and marketing efforts. Plans include the establishment of a new office location in Guadalajara, Mexico, during 2021.

“Lumiata demonstrates a strong ability to cultivate reliable partnerships with its clientele,” noted Dalbir Bains, chairman, president, and CEO of FGC Health, and a Lumiata client. “They have consistently provided outcomes that enable us to effectively oversee consumer risks associated with co-existing health conditions. Our extended collaboration ensures we can rely on their continued support in managing our pharmaceutical operations.”

The company’s products assist organizations in controlling underwriting and clinical expenses, as well as risks related to informed decision-making.