Mytonomy, a video-based patient engagement company, closed a $25 million Series B funding round led by Level Equity. Additional investors including Philips and Carilion Clinic also participated in the raise.

WHAT THEY DO

The company’s customer relationship management platform uses short-form video content and digital communications to engage with patients across the care continuum.

The platform includes modules like the Patient Experience Cloud, Content Cloud, Communications Cloud and Analytics Cloud that are designed to create a digital infrastructure for healthcare organizations.

Mytonomy’s production studio has created more than 2,000 original videos that span a variety of conditions and procedures such as cardiovascular disease, COVID-19, pregnancy, senior living, behavioral health and more.

The company works with health systems, health plans and employers, and pharma and Medtech companies to engage with patients in the hopes of creating better clinical and financial outcomes.

WHAT IT’S FOR

Mytonomy plans to use the new capital to support its continued growth. In fact, the company was one of Inc.’s 5,000 fastest growing private companies in 2020 after it had a 377% three-year growth.

“We are thrilled to partner with Level Equity on the next phase of Mytonomy’s growth,” Anjali Kataria, CEO and cofounder of Mytonomy, said in a statement.

“Today, health care is failing and we are divided. Mytonomy’s Cloud for Healthcare is a step stool for all, countering misinformation and delivering greater access and equity so that people can learn how to get healthy, remotely - with their hospital and care team. With a suite of easy-to-use video-based engagement and communication tools, an award-winning film studio, and this new funding, we will continue to scale digital transformation, ultimately improving the health of billions of people across the globe.”

MARKET SNAPSHOT

In the digital age of healthcare, experts have called for the development of virtual solutions to enhance digital literacy and improve patient-provider communication.

Besides Mytonomy, there are a number of startups creating digital health engagement platforms. These include WELL Health, which secured a $45 million Series C funding round last year; PatientPop, which landed $50 million in Series C funding last August; NexHealth, which closed a $15 million Series A round last month; and Luma Health, which announced a $16 million Series B raise in 2019.