Navina Secures $15 Million in Series A Funding to Continue its Revolution of US Primary Care Using Artificial Intelligence
TEL AVIV, ISRAEL (PRWEB) OCTOBER 18, 2021
Navina, the developer of AI-powered clinical platform for primary care, today announced that the company has secured $15 million in Series A funding led by Vertex Ventures Israel. Schusterman Family Investments (SFI) and existing investor Grove Ventures also joined the round. This brings the company’s total funding to date to $22 million, raised within 12 months after commercial launch. The additional funding will allow Navina to accelerate investment in its AI technology, and expand within physician groups and the enterprise healthcare market.
Until now primary care physicians - the gatekeepers of community health - have had limited tools to effectively absorb point of care data for a quick understanding of their patients. Navina fills the void by turning that data into an intuitive and actionable Patient Portrait - a concise, personalized, clinical summary of every patient. Navina’s rapid adoption by thousands of physicians confirms the burning need for innovative AI to organize the vast amounts of data they face. The platform has already demonstrated measurable and dramatic clinical and economic impact for multi-specialty and primary care physician groups nationwide.
Navina has achieved success by creating the first AI-based model that understands the complex language of primary care patient data. The platform gives clinicians immediate comprehension of the entire patient record, providing the precise data they need, offering recommendations, and making even the most challenging cases reviewable in minutes. Navina’s AI-based insights bring potentially missed diagnoses to the attention of physicians, highlighting opportunities for better, more preventive patient care.
Beyond its essential health-care impact, Navina has quickly proven that it can substantially increase practice revenue, particularly in the value-based world where accountability and better clinical outcomes mean better economics. Since adopting the platform, groups are seeing significant increases in HCC-RAF (Risk Adjustment Factor) scores, which translates into millions of dollars in revenue.
"We started Navina to help physicians make the most of all the digital data that is overwhelming them,” said Ronen Lavi, co-founder and CEO. “Navina delivers deep patient understanding in a quick view, and will become core to every physician-patient interaction. As new sources of patient data emerge, telehealth grows in its acceptance and COVID continues to pressure physicians, Navina will become indispensable to relieving their stress and supporting more responsive patient care. We are honored that Vertex, Schusterman Family Investments, and Grove - who has been with us since the beginning - are committed to our vision of a new era of AI-powered care.”
“We are excited to lead Navina’s new round of financing,” says Emanuel Timor, General Partner at Vertex Ventures. “The company is solving a major problem for primary care physicians, who occupy a critical role at medicine's front lines. It provides instant access to the data they need for proactive and empathetic care in the community. Physician adoption and high levels of usage demonstrate that Navina is filling this essential role. The company is led by an exceptionally talented and devoted team that blends deep technical and medical expertise. We believe that it combines the rapid scalability of a SaaS company with a transformative impact of a true healthcare disruptor.”
