Merck, Sanofi invest $30M in digital HealthTech startup Medisafe to make managing medication easy
Medisafe, a Boston, MA-based health startup and provider of a personalized medication management platform to help patients stay on top of all their medications, today announced that it has raised $30 million in Series C funding to further expand its end-to-end solutions supporting patients managing medications and accelerate revenues growth.
The round was back with investments led by Sanofi Ventures and ALIVE Israel HealthTech Fund, joined by Leumi Partners, Menorah Mivtachim, and Consensus Business Group, with participation from previous investors Pitango Ventures, 7Wire Ventures, Merck Ventures, Octopus Ventures, lool HealthTech, Triventures, and Ourcrowd. In conjunction with the funding, Medisafe also announced that Cris De Luca, Global Head, Digital Investments at Sanofi Ventures, and David Klein, Co-Founder, Managing Partner ALIVE Israel HealthTech Fund will join its board of directors.
Founded in 2012 by Omri Shor and Rotem Shor, Medisafe is the largest medication management platform with over 7 million registered users globally. Medisafe’s growth is rapidly accelerating as the healthcare industry turns to digital health solutions to support patients. Partnering with top global pharma companies and expanding opportunities across the health ecosystem, Medisafe deploys digital drug companions to holistically support patients throughout their unique therapy journey. Medisafe’s advanced technology transforms patient behaviors powered by JITI™ (Just-in-Time-Interventions), AI data-driven personalized engine providing support for patients.
“The COVID-19 pandemic has proven to us that supporting patients digitally through virtual care and leveraging data-driven insights, is going to be foundational to future models of healthcare and improving outcomes,” said Cris De Luca, Global Head, Digital Investments at Sanofi Ventures.
Medisafe is the leading evidence-based digital therapeutics company providing medication management solutions across the healthcare continuum, a $300 billion problem in the US alone. Medisafe supports the patient journey with AI-driven technology that dynamically engages patients during the course of their treatment based on each patient’s regimen, condition, and specific circumstance.
“We’ve been following Medisafe and witnessed its massive growth as the healthcare industry is rapidly deploying digital solutions,” said David Klein, Co-Founder, Managing Partner ALIVE Israel HealthTech Fund. “We’re excited to partner with the company, its investors, and partners at this inflection point to drive together to new heights.”
Medisafe fosters collaboration among patients, their loved ones, and healthcare professionals, and partners with the healthcare ecosystem, from pharma companies to payers and providers, to improve outcomes. With seven million registered patient and caregiver users have recorded on Medisafe’s platform over two billion successful medication doses on their iOS and Android smartphones and tablets and contributed 350,000 user reviews that average 4.7 out of 5 stars in the App Store and Google Play stores.
Over the past eight years, Medisafe has amassed a database of over four billion dosage behaviors informing JITI to maximize engagement and driving outcomes. In 2020, Medisafe expanded its platform first launching Medisafe Care Connector which links the all-critical human element into patient support programs digitally connecting patients with clinicians. Last September, Medisafe introduced Maestro, a proprietary no-code technology to build, deploy and optimize personalized journeys. Medisafe Maestro provides a scalable solution to activate patient journeys, orchestrate patient support interventions and increase overall speed to market.
“This investment allows Medisafe to expand holistic treatment support for patients to impact behavior change and ultimately outcomes. Medisafe is continuously advancing its technology to meet the dynamic needs of patients managing complex therapies,” said Omri Shor, CEO, and Co-Founder of Medisafe. “The future model of patient support is not purely digital but adaptable to empower human connections. In fact, we are seeing impressive results connecting clinicians and caregivers into the support solutions with adoption rates 4x that of pure digital and increasing nurse-to-patient connectivity by 1.8x. We are excited to build out further capabilities to meet the evolving needs of the industry.”