California-based real-world data platform Atropos Health has secured $33 million in Series B funding.

Valtruis led the investment round, which included new investors McKesson Ventures, Merck GHI Fund and Cencora Ventures. 

Existing investors Emerson Collective, Breyer Capital and Presidio Ventures also participated in the round.

Mike Spadafore, managing director of Valtruis, will join the company’s board of directors.

WHAT IT DOES

The California-based company, founded in 2019, offers AI innovations, evidence generation, analytics augmentation and data evaluation to help physicians access real-world evidence to guide clinical decisions and research. 

The company also offers a platform dubbed ChatRWD, an LLM-powered chat tool for clinical research that aims to eliminate hallucination risk by employing the company’s real-world data platform, GENEVA OS. 

Atropos will use the funds to expand into oncology and specialty care with the help of one of its new investors Cencora, formerly AmerisourceBergen. Cencora is a drug-wholesale company and contract-research organization. 

The funds will also support the full launch of ChatRWD.

“The future of value-based care is about making evidence-based decisions; continuing to deliver high-quality evidence to health systems allows them to implement programs and processes that drive exceptional patient outcomes while minding the bottom line,” Dr. Brigham Hyde, CEO and cofounder of Atropos Health, told MobiHealthNews in an email. 

“Evidence is more important than ever, especially when it comes to oncology care. It’s evolving constantly, and the stakes are incredibly high. By investing in our solutions and maintaining transparency in our methodologies, we empower health system and life science partners to make decisions based on real-world evidence for cancer patients and all patients, fostering truly personalized medicine and transforming the landscape of healthcare.”

MARKET SNAPSHOT

Last year, Atropos announced it completed a strategic financing round, a year after securing $14 million in a Series A funding round.

The company also announced a partnership with data-sharing technology platform Datavant, that would allow each company’s members to access the other company’s offerings. 

Earlier this year, Atropos announced that healthcare-data analytics company Arcadia had joined its health portfolio. This would allow Arcadia’s provider customers and life sciences users to access its datasets for value-based care and clinical decision-making.

The company has also partnered with clinical analytics and patient chart summarization company KAID Health, healthcare-data company SEQSTER and Janssen Research & Development, a Johnson & Johnson company.