The digital health developer Huma announced that it has raised $80 million to help carry it through the ongoing rollout of its cloud-based platform for managing patients regardless of their specific disease.
The company’s software received an FDA clearance in June 2023, which allowed it to connect with a range of regulated tools including wearable blood sugar monitors and heart rate trackers, as well as smart inhalers and companion smartphone apps.
The platform also provides a library of pre-built modules, in addition to the ability to host artificial intelligence- and machine learning-powered algorithms designed to assist in diagnoses or predicting the course of a condition. Huma’s goal is to help speed up the work of other digital health projects, by offering solutions and development kits that don’t require writing new computer code.
“We are here to accelerate the adoption of digital and AI across care and research, and we do that by making the building of digital health solutions for care and research easy,” Huma’s founder and CEO, Dan Vahdat, said in a statement. “We like to think of Huma Cloud Platform much like Shopify but for digital health instead of e-commerce.”
According to the company, its technology has supported work in more than 3,000 hospitals and clinics. One example, a remote patient monitoring product for respiratory conditions built on Huma’s cloud platform, covers 140,000 contracted lives.
The latest proceeds—which include series D financing as well as investments made in the company during the intervening time since its series C round in May 2021—brings Huma’s lifetime fundraising total to over $300 million. The series D was joined by AstraZeneca, HAT SGR’s Hat Technology Fund 4, Hitachi Ventures’ HV Fund and long-time backer Leaps by Bayer, among others.
“We have known Huma for several years and we’ve been impressed by their remarkable progress. We have seen this first-hand,” said Juergen Eckhardt, head of Leaps by Bayer and leader of the drugmaker’s pharmaceutical development and licensing efforts. “The Huma Cloud Platform enables companies to streamline how they bring digital medicine, companion apps, and data collection capabilities to patients from the R&D phase to post-launch.”
Huma said that it has launched collaborations with over half of the top 20 pharma companies worldwide since its 2011 founding as Medopad—and that the company has recently doubled its annual revenue, with the goal of becoming profitable this year.