The disruption of fee-for-service healthcare is reshaping the industry, rapidly becoming a value-based system centered on individuals, prevention, and the management of chronic disease. Healthcare organizations have struggled to utilize artificial intelligence to their advantage leaving many to use black-box solutions that are not optimized for their patients. ClosedLoop’s purpose-built, healthcare-focused AI platform helps organizations anticipate some of healthcare's biggest challenges – such as disease progression, readmissions, hospital infections, and avoidable hospitalizations – and surfaces specific insights that support physicians, health plans, and life science companies to design and deliver services that improve the health of individuals and populations. The platform’s pre-built predictive model templates make it easy for organizations to identify and target opportunities for improving health, delivering high quality care, and reducing costs.
"Physicians are being asked to do more than ever before. With advanced technology, ClosedLoop brings innovative AI models to clinical workflows with a 100% deployment rate and continues to positively impact the future of practices and improve patient outcomes,” said Ian Sigalow, Co-founder and Partner of Greycroft. "We are excited to invest in ClosedLoop as they expand their platform and support healthcare organizations with the power of artificial intelligence.”
“At .406, we are deeply focused on both Health IT and Data/AI. When investing at the intersection of the two we look for horizontal technologies that are effective but only delivering a fraction of the potential value, often leaving the rest to services. In these cases vertical specific applications can usually deliver the full end-to-end solution, which is exactly what ClosedLoop has done,” said Graham Brooks, Partner at .406 Ventures. “Andrew and the team have identified a significant opportunity in the market and created a powerful yet simple platform that consistently delivers results for their customers. We’re excited to partner with ClosedLoop to progress the healthcare industry.”
ClosedLoop was founded in 2017 by serial entrepreneur Andrew Eye and Dave DeCaprio. Eye previously co-founded the mobile software company Boxer (purchased by VMWare) and cyber security firm Ciphent (acquired by Optiv). DeCaprio is a multi-time CTO and previously helped lead the Human Genome Project at MIT’s Broad Institute. The pair are joined by Paul Auffermann, former VP of Sales at DataRobot, and Carol McCall, former Chief Informatics Officer at Humana. The new funding will allow ClosedLoop to continue to invest in product and engineering while expanding their sales and marketing teams.
