Healthcare startup pulseData raises $16.5M funding to enable early kidney failure intervention using machine learning and predictive algorithms
According to the Centers for Disease Control and Prevention (CDC), kidney diseases are the ninth leading cause of death in the United States. About 37 million US adults are estimated to have CKD and most are undiagnosed. 40% of adults with late-stage Chronic Kidney Disease (CKD) do not know they have it. In other words, 40% of people with severely reduced kidney function are not aware of having CKD.
In addition, the CDC data also shows that every 24 hours, 350 people begin dialysis treatment for kidney failure. In the United States, diabetes and high blood pressure are the leading causes of kidney failure, representing about 3 out of 4 new cases. In 2018, treating Medicare beneficiaries with CKD cost over $81.8 billion, and treating people with ESRD cost an additional $36.6 billion.
It’s because of these shocking and scary statistics that a New York-based tech startup pulseData is on a mission to help patients suffering from CKD by enabling early kidney failure intervention using machine learning and predictive algorithms. The startup partners with health systems to improve chronic kidney disease patient outcomes. Its proprietary algorithms identify individuals who are likely suffering from CKD, frequently even before a diagnosis claim is found. In addition, pulseData’s algorithms predict who is headed towards kidney failure, enabling early and proactive intervention.
Today, pulseData announced it has raised $16.5 million in Series A funding led by Bain Capital Private Equity and Two Bear Capital, with participation from Alumni Ventures Group and existing investors.
Founded in 2016 by Hai Po Sun and Teddy Cha, pulseData is a NYC-based startup building a suite of artificial intelligence solutions which predict the progression of chronic kidney disease and cardiorenal comorbidities. pulseData works at the forefront of value-based care as the technology layer that precisely matches at-risk patients to proactive, multidisciplinary care.
pulseData customers include Medicare Advantage plans, commercial health plans, self-insured employers, risk-bearing health systems, Accountable Care Organizations, and providers participating in value-based care. Through proactive identification and engagement of CKD members at risk, clinical interventions can reliably reduce the total cost of care.
Hai Po Sun, Co-Founder and CTO said, “I started pulseData with a team of domain experts in engineering, product design, and healthcare data because the renal disease has had an immense impact on my family. After watching an uncle die from kidney failure and then witnessing my mother undergo years of dialysis, I wanted to harness my Quantitative Modeling and Predictive Analytics expertise from Wall Street and apply it towards Kidney and Chronic Care.”
Teddy Cha, Co-Founder and CEO adds: “Chronic disease is tragic when preventable. That’s why our team built a way to predict which individuals are going to need dialysis and when. By sharing this information with payers and providers, our clients are able to deliver the right care at the right time to the right people. When this happens, chronic disease sufferers get a chance to manage their disease, avoid catastrophic outcomes, and live much better lives.”
There are 100 million Americans suffering from chronic comorbidities. The only way to provide them with better outcomes and decrease the cost on the American healthcare system is by proactively caring for those in-need and at-risk before their health declines precipitously. By matching the right people with timely, proactive care, the US healthcare system would save one trillion dollars a year. pulseData partners with traditional care providers to help them understand precisely which patients need care and when. The Centers for Medicare and Medicaid Services (CMS) is using value-based models in kidney care as a blueprint for addressing chronic illness, unlocking a healthier America.
“pulseData has built the best data intelligence platform for predicting the progression of kidney disease,” said Danielle Wang, Senior Vice President at Bain Capital. “pulseData’s models equip local care teams to deliver the highest quality care to the most at-risk patient cohorts. We’re excited about the results pulseData has achieved. We look forward to partnering with Teddy, Hai Po and the rest of the management team to improve kidney care for patients.”
“The future of healthcare will depend on leveraging advanced technologies that keep patients healthier and costs lower. pulseData is focused on having exactly this impact on renal disease, a chronic condition that affects millions of patients and costs the healthcare system over $100 billion a year,” said Mike Goguen, Founder and Managing Partner of Two Bear Capital. “We’re excited to continue our partnership with such a brilliant and mission-driven team of entrepreneurs.”