FeelBetter – the leading provider of medication management technology and pioneer of Pharmaco-Clinical Intelligence – recently announced that it has raised $5.9 million in funding. Firstime Ventures and Shoni Health Ventures led the funding round with participation from Random Forest VC, The Group Ventures, and existing FeelBetter investor Triventures, which brings the company’s total funding to $8 million.
In the US alone, suboptimal medication management results in 275,000 deaths and more than $528B in avoidable costs every year. So, there has been a growing public health concern for senior patients – many of whom have multiple chronic conditions. The simultaneous use of multiple medications paves the way for poor health outcomes and the increased use of health services, and rising care costs.
Launched in 2018, FeelBetter is tackling the challenges associated with suboptimal medication management among polypharmacy patients. Headed by an interdisciplinary team of clinicians, clinical pharmacists, and technologists, FeelBetter pioneered a new category of technology called Pharmaco-Clinical Intelligence. Plus, it combines novel pharmacology and clinical capabilities and is changing the polypharmacy paradigm on both an individual and population health level. Known as a comprehensive solution powered by AI and machine learning capabilities, FeelBetter’s Pharmaco-Clinical Intelligence drives proactive, personalized medication management, helping healthcare professionals ensure their patients’ medication regimens are safe, effective, and appropriate.
FeelBetter’s Pharmaco-Clinical Intelligence synthesizes and analyzes healthcare data from multiple sources to pinpoint patients at high risk of deterioration and preventable hospitalization due to suboptimal medication management. And the SaaS solution also proactively suggests immediate and actionable interventions to reduce polypharmacy risks and aids healthcare providers in monitoring patients’ progress and measuring the impact of clinical interventions. By utilizing FeelBetter, provider organizations can more effectively and efficiently allocate resources to serve patients better, and minimize preventable, costly use of healthcare services.
KEY QUOTES:
“FeelBetter’s purpose-built technology makes it possible to deliver a more personalized, whole-patient approach to medication management – one that goes beyond a single illness, diagnosis, or point in time, and comprehensively focuses on each individual’s care journey. At a time when investors are especially selective about the types of bets they are taking, this round and vote of confidence from the world-class teams at Fristime Ventures, Shoni Health Ventures, Random Forest VC, Triventures, and The Venture Group, as well as angel investors, validates the need for and potential of our Pharmaco-Clinical Intelligence as a solution for the growing, global health challenge posed by suboptimal medication management.”
— Liat Primor, FeelBetter’s CEO and Co-Founder
“The funding will enable us to expand our reach, further refine our solution, and empower more healthcare providers to deliver personalized, proactive care. Our Pharmaco-Clinical Intelligence, developed collaboratively by clinical and pharmacology experts alongside technology and machine learning specialists, seamlessly matches a patient’s specific clinical and pharmacology data with their sequence of health events. This unlocks unparalleled accuracy in detecting at-risk patients both individually and population wide and enables new levels of precision in disease management and prevention.”
— Yoram Hordan, FeelBetter’s CTO, COO, and Co-Founder
“FeelBetter’s algorithm has been trained on two decades of longitudinal clinical, pharmacy, claims, and lab data from hundreds of thousands of patients to find patterns in the complex connections and relationships between disparate data sources. When taken together, these patterns can capture the full picture of a patient’s health journey, enabling FeelBetter to predict which individuals are at the greatest risk of adverse events related to suboptimal medication regimens and recommend timely clinical interventions to drive better health outcomes.”
— Michael Kerbis, Founding Partner, Random Forest VC
“From risk stratifying patients to preventing adverse events so patients can safely stay in their communities, FeelBetter offers a proven, end-to-end solution for the suboptimal medication management problem. It’s a groundbreaking tool that is poised to change how the medical community approaches polypharmacy, and we’re thrilled to take part in this important transformation.”
— Eran Lerer, CEO and Managing Partner, Shoni Health Ventures
“By incorporating the expertise of physicians and clinical pharmacists, as well as leveraging data from all relevant sources, FeelBetter provides a solution that is uniquely comprehensive. It intuitively fits into clinical workflows and enables optimized medication management at unparalleled speed and scale. We look forward to leveraging our expertise to support FeelBetter’s mission and continued growth as it meets the tremendous opportunities ahead.”
— Keren Kopilov, Partner, Firstime Ventures
