pattern healthwhich provides a platform for building digital health tools, announced it has raised $3.3 million in Series A funding.
The round was led by Dr. William H. Joyce Family Office, with participation from existing investors Cofounders Capital, Launch Place and Triangle Tweener Fund. The startup recently announced a $1.5 million raise in February 2021.
WHAT IT DOES
Pattern provides a no-code platform that allows clinicians and researchers to build digital health programs such as apps, clinical decision support tools, and surveys.
The startup also has a distribution service that can help with licensing and an exchange where users can find other programs built using Pattern’s platform. An example of a tool on the stock exchange is a At-home cardiac rehabilitation program developed by a Duke University specialist.
“We talk a lot about being a no-code platform and that way we’re really able to get care programs, clinical decision support tools and surveys up and running very quickly. We deliver the service through a program management team that helps us configure these plans, test them and put them into the hands of patients through clinicians and researchers,” said CEO and co-founder Ed Barber Mobile Health News.
“And then, of course, we have the console for researchers and clinicians, which helps to view data, understand the success of the programs from a statistical perspective, but also manage workflows and data at the patient level.”
Barber said academic medical centers are one of Pattern’s most important customer groups. The company plans to use the Series A capital to enhance the platform to make it more attractive 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 cheaper to build a variety of programs, but also bring the same value to the enterprise level,” he said. “How can we collaborate with larger research groups, with larger academic medical centers, and with larger healthcare systems to use these tools at scale?”
Funding for digital health has declined as much this year after booming investment following the COVID-19 pandemic in 2021, according to a Rock Health report. However, a recent survey conducted by the American Medical Association found that more and more doctors are adopting digital health tools and seeing them as a benefit to patient care.
Overall, 93% of physicians surveyed believed that the use of digital health tools would provide some or clear benefit in 2022, compared to 85% in 2016. And the average number of digital tools used by physicians increased in 2022 3.8 versus 2.2 in 2016.
Another company focused on increasing the number of digital health tools on the market is Redesign Health, which helps build, launch, and fund startups. It recently announced $65 million Series C round led by General Catalyst.
Synthace, the raised $35 million in Series C funding last year and offers a no-code tool to help scientists design experiments. They can run these experiments in their labs and then collect and analyze data within the Synthace platform.