Exclusive: RadiantGraph seeds $5M for patient engagement
Illustration: Shoshana Gordon/Axios
RadiantGraph, which uses machine learning and artificial intelligence to drive consumer engagement for health plans, raised a $5 million seed, CEO Anmol Madan tells Axios exclusively.
Why it matters: Health insurance costs are rising, while consumer engagement with health care remains a challenge.
Details: The round was led by True Ventures with support from XYZ Ventures and Remus Capital.
- The funds will be used to partner with additional health care organizations and build RadiantGraph's enterprise health and health plan product offerings.
- RadiantGraph has a partnership with Jasper Health.
- Madan declined to comment on valuation and financials.
How it works: RadiantGraph uses machine learning and artificial intelligence to analyze data — like medical claims, medication history and biometric information — in order to track patterns in patient populations and help tailor care.
- In behavioral health, for example, there are various types of content and digital clinical interventions based on a person's clinical need, acuity, and preferences.
- "In chronic conditions like diabetes, consumers find different ways to engage in their health-related behaviors that positively impact their lifestyle and health outcomes," Madan says.
What they're saying: "A personalized experience will drive outcomes and engagement and thus translates to better economic outcomes in this value-based care world," Madan says.
- "Very few providers have the means, resources and expertise to build this type of platform in-house," he says. "They often try and buy one, mostly point solutions."
- "Successful companies these days are built around billing," says True Ventures partner Adam D'Augelli.
- "RadiantGraph helps health care organizations understand their patient population and provide better care, which will ultimately lead to increased revenue in a value-based care world," D'Augelli adds.
Catch up quick: Madan was previously chief data scientist at Teledoc for two years after co-founding Ginger, which was acquired by Headspace.
- D'Augelli and True Ventures were also one of the first investors in Ginger.
- "The expertise goes a long way," D'Augelli says of Madan.
