Dyania Health, an AI-enabled healthcare data company, announced the close of a $10 million Series A funding round led by HealthX, TechSquare and Cleveland Clinic Ventures with participation from existing investors. 

WHAT IT DOES

The company's Synapsis AI platform automates the reading and analysis of medical data, intending to allow more streamlined and ideal clinical research, report and quality within healthcare institutions.

The company said its platform will be implemented in large healthcare systems to uncover enterprise-wide clinical trial pre-screening, run automated chart reviews for observational studies and automate elaborate registry reporting.

"The healthcare industry continues to struggle with inefficiencies in managing unstructured data and delays in clinical trial recruitment," Eirini Schlosser, CEO and cofounder of Dyania Health, told MobiHealthNews in an email.  

"This funding enables us to accelerate our mission of transforming healthcare data management through AI. By expanding our AI capabilities, we can address critical inefficiencies in clinical research and patient care. The new investment will allow us to further develop our Synapsis AI platform, which is already revolutionizing the speed and accuracy of medical data analysis. With this support, we will continue scaling our technology to meet the growing demand from healthcare systems and life sciences companies."

MARKET SNAPSHOT

In 2022, Dyania Health announced a $5.3 million seed round led by Innospark Ventures.  Big Pi Ventures, Wild Basin, Outsiders Fund, Tau Ventures, Genesis Ventures and TLife Investments participated in the round. 

Other players in the healthcare data space include Verana Health, which in 2022 secured $150 million in Series E funding, which the company used to expand its life sciences products across the drug development process as well as improve its data network for providers. It also added new data partnerships, including ones with medical societies. 

The round was led by Johnson & Johnson Innovation with participation from Novo Growth. GV (Google Ventures), Casdin Capital, Brook Byers, Merck Global Health Innovation Fund, THVC and Breyer Capital.

In 2019, TriNetX raised $40 million in a Series D funding round led by Merck Global Health Innovation Fund. Mitsui & Co. and Itochu Technology Ventures and returning financial backers MPM Capital, F2 Ventures and Deerfield Management participated in the round.