NEW YORK — pulseData, a New York City-based healthcare data science company, focused on predictive algorithms for Chronic Kidney Disease and other chronic diseases, has reeled in $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.
The CDC shows that 40% of adults with late stage Chronic Kidney Disease (CKD) do not know they have it. pulseData’s 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. Its 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 total cost of care.
Hai Po Sun, Co-Founder and Chief Technical Officer of pulseData said, “I started pulseData with a team of domain experts in engineering, product design, and healthcare data because 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.”