MDI Health, a provider of digital real-time medication risk assessment platform for care providers, raised $20 million in Series A funding.
Intel Capital led the investment round with participation from Maverick Ventures Israel, Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures, and former SVP of Optum Richard Montwill.
As part of the investment, Intel Capital Investment Director Yoni Greifman will join the company’s board of directors. The Series A funding — which brings the company’s total capital to $26 million — will allow MDI Health to meet rising client demand and scale its U.S. and Israeli R&D teams to drive product development.
According to the company’s website, its medication risk assessment platform provides clinicians with real-time comprehensive medication reviews and patient-specific personalized medication-related risk events, ensuring patients have the exact medications they need while improving medication safety and clinical outcomes.
Commenting on the funding news, Avishai Ben-Tovim, CEO and co-founder of MDI Health, said: “MDI Health is driven by our mission to help end the preventable suffering of patients caused by an outdated one-size-fits-all approach to medication treatment.”
“The ongoing support and new funding from our investors equip us with the fuel we need to accelerate that mission,” added Avishai Ben-Tovim.
Digital health startups providing health risk assessment tools have raised close to $1 billion in funding to date, according to our funding database. More recently, Exer, a provider of an AI-powered patient motion health assessment app for care providers, raised $6.5 million in funding. In another deal, Gabbi, a provider of an AI-guided early breast cancer risk assessment platform, raised $4.4 million in funding led by Bread and Butter Ventures, with participation from Female Founders Fund, WR Hambrecht, Phoenix Rising, Claridge Ventures Advisors VC, Coyote Ventures, Gaingels and prominent angels including, David Kidder, Sarah Jones Simmer, and Naseem Sayani.