Komodo Health Raises $50 Million in Andreessen-Led Round

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Happy Wednesday, readers.

Komodo Health has raised $50 million in a funding round led by Andreessen Horowitz, the firms tell Fortune. Komodo, a five-year old startup, will use the money to scale up its digital health ambitions—with the ultimate aim of leveraging a health care “map” to fuel everything from more effective drug development to gleaning insights about health disparities across the country.

“Over the course of the last five years, we have taken a thesis and really put it into action,” Komodo co-founder and CEO Arif Nathoo tells Fortune. “We’ve had north of 100% year-over-year growth, but we’re not burning a ton of cash.”

That combination sparked the interest of investors focused on the biopharmaceutical space—especially those interested in leveraging health care data to improve patient outcomes while boosting company’s bottom lines.

“It was clear to me that Komodo had basically built a better mousetrap when it comes to health care data analytics,” Andreessen Horowitz partner Jorge Conde tells Fortune. “There’s a reason 19 out of the 20 top biopharma companies have already signed on to use Komodo’s services.”

Komodo takes data from hospitals, pharmaceutical companies, insurers, and other firms across the medical industry and then deploys artificial intelligence to suss out the most useful nuggets. This type of analysis could, for instance, give doctors and hospitals insights about why certain patient demographics have worse health outcomes.

“We provide this ability into millions of patient journeys in the U.S. and use that to better predict the future,” says Nathoo.

Komodo co-founder and president Web Sun says he hopes the company’s tech will one day be the equivalent of Amazon Web Services for health care. “AWS became the platform for everyone to do what they’re doing,” Sun tells Fortune.

“If there’s a way for us to shorten the cycle to insight, that’s what spells success for us. Instead of spending five years getting the data, companies can leverage our software and platform to get this information and insight much sooner.”

Read on for the day’s news.

Sy Mukherjee
sayak.mukherjee@fortune.com
@the_sy_guy

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