New York, NY October 27, 2022
Navina, the healthcare technology company that is using data to transform every provider-patient interaction, today announced a $22 million Series B funding round, doubling the total investment to date to $44M. The financing was led by ALIVE Israel HealthTech Fund, with participation from existing investors: Grove Ventures, Vertex Ventures Israel, and Schusterman Family Investments. The company has added thousands of new users in the primary care market in 2022 through relationships with sophisticated value-based care and multi-state physician groups across the US. This rapid adoption drove a 10x increase in revenue for Navina, over just the last six months.
Navina uses medically-informed AI to make sense of the exponentially increasing amounts of data that primary care physicians are overwhelmed by. The platform is uniquely able to put exactly the right information in front of physicians at the right time, to give them both a deep understanding of their patients at a glance and actionable insights at the point of care. It distills entire patient histories from different sources, turning thousands of data points into a concise Patient Portrait, ensuring critical decision-making data is not missed. This creates a powerful cascade of benefits, solving the interconnected problems of data overload and dangerous physician burnout that lead to clinical misses and suboptimal care.
Powering the platform is the company’s proprietary AI, which is capable of comprehending the specialized language of primary care. Its nuanced understanding of clinical workflows is enabling Navina to lift data burdens off physicians, so they can take better care of their patients, impacting millions of lives. In the past year, the Navina platform expanded its footprint to include not only physicians but also their supporting staff, aligning workflows across all stakeholders in their common goal of effectively serving their patient populations and improving value-based care.
Navina’s real-world effectiveness was validated by a recent report issued by the Innovation Lab of the American Academy of Family Physicians, which found the platform increases diagnosis accuracy, as well reduces pre-visit preparation time by a significant 61 percent.
“Navina’s growth has been remarkable; they have achieved penetration levels among advanced primary care groups in the United States at a pace that we have seldom seen, and our aim is to further support the company’s accelerated growth” said ALIVE’s Managing General Partner, Professor Ari Shamiss, who will join Navina’s Board of Directors. “They are clearly addressing a gaping, unmet quadruple need: to meet the aims of improving population health; patient experience; clinician well-being and productivity—all while improving economics. This is being validated every day.”
“We welcome ALIVE into our family of investors, and are gratified by the continued support of our initial investor group” said Ronen Lavi, co-founder and CEO of Navina. “Our mission, from the beginning, has been to give physicians the time and confidence they need to stay ahead of their patients’ health, and to transform the physician-patient interaction, changing it from reactive to proactive. As Israel’s top HealthTech fund, whose leaders are former directors of the country’s largest hospitals and medical centers and accomplished investors, ALIVE is the ideal partner for this journey.”
Shay Perera, co-founder and CTO, went on to say, “Our investors recognize that AI can enable primary-care doctors to practice medicine the way they desire, while empowering physician groups and health systems to achieve the economics that enable them to meet their responsibilities to the community.”
The new funding will be used to accelerate growth and adoption of Navina’s platform among US physician groups and the enterprise healthcare market. The company will further invest in its AI technology and clinical algorithms, and expand its integration of more emerging data sources to deliver physicians a single source of truth—no matter how complex the information.
Navina uses medically-informed AI to turn chaotic data into an intuitive and concise Patient Portrait that gives physicians a deep understanding of their patients’ health status. Designed for and loved by physicians, Navina allows for high quality and empathic patient care, resulting in better treatment, reduced missed diagnoses, and a reduced burden on physicians.
About ALIVE Israel HealthTech Fund
ALIVE is a HealthTech-dedicated mid-to-late stage fund, leveraging an exclusive ecosystem of strategic partners comprising leading hospital chains, HMOs, and financial institutions to support and accelerate portfolio companies’ clinical and commercial expansion. With decades of combined experience and $110 million AUM, ALIVE drives its growing portfolio of companies to gain an in-depth understanding of clinical workflows and procedures, ensuring product-market fit under challenging health economics, while delivering better care for patients and creating business and strategic value for all stakeholders.