Pattern Health, which offers a platform for building digital health tools, announced it had raised $3.3 million in Series A funding.
The round was led by the Dr. William H. Joyce Family Office, with participation from existing investors Cofounders Capital, the Launch Place and Triangle Tweener Fund. The startup last announced a $1.5 million raise in February 2021.
WHAT IT DOES
Pattern provides a no-code platform to help clinicians and researchers create digital health programs like apps, clinical decision support tools and surveys.
The startup also has a distribution service that can assist with licensing, and an exchange where users can find other programs that were built using Pattern’s platform. For example, one tool on the exchange is a home-based cardiac rehabilitation program designed by a specialist at Duke University.
“We talk a lot about being a no-code platform, and that’s really how we’re able to get care programs, clinical decision support tools and surveys up and running very quickly. We provide the service through a program management team to help configure these plans, test them and get them into patients’ hands through clinicians and researchers,” CEO and cofounder Ed Barber told MobiHealthNews.
“And then, of course, we’ve got the researcher and clinician console to help view data, understand the success of the programs from a statistics perspective, but also manage workflows and patient-level data.”
Barber said academic medical centers are one of Pattern’s core customer groups. The company plans to use the Series A capital to improve the platform to appeal to larger organizations, including adding new EHR integrations and spending on marketing.
“One of the next steps for us is to continue to make it easier and more cost-effective to build a diverse set of programs, but also take that same value to the enterprise level,” he said. “How do we work with larger research groups, with larger academic medical centers, with larger health systems to take advantage of these tools at scale?”
Digital health funding has fallen so far this year, following the booming investment seen in the wake of the COVID-19 pandemic in 2021, according to a report by Rock Health. However, a recent survey by the American Medical Association found more physicians are adopting digital health tools and see them as an advantage for patient care.
Overall, 93% of physicians surveyed felt there was some advantage or a definite advantage to leveraging digital health tools in 2022, compared with 85% in 2016. And the average number of digital tools in use by physicians grew to 3.8 in 2022 compared with 2.2 in 2016.
Another company focused on growing the number of digital health tools on the market is Redesign Health, which helps build, launch and find funding for startups. It recently announced $65 million Series C round led by General Catalyst.
Synthace, which raised $35 million in Series C funding last year, offers a no-code tool that helps scientists design experiments. They can run those experiments in their labs, then gather and analyze data within Synthace’s platform.