- Navigating Cancer, a Seattle-based leader in enabling personalized cancer care, announced it raised $26 million in Series D growth equity funding
Navigating Cancer — a Seattle-based leader in enabling personalized cancer care with its comprehensive oncology patient relationship management solution — announced that it raised $26 million in Series D growth equity funding in an over-subscribed round. This funding round was led by the Merck Global Health Innovation Fund (GHIF) and TT Capital Partners (TTCP).
Navigating Cancer’s end-to-end software platform is adopted by more than 1,700 cancer care providers domestically and uniquely connects providers and their patients throughout the care cycle. And other investors in this round also include BrightEdge, the American Cancer Society’s newly formed philanthropic venture fund called LabCorp, ORIX Growth Capital, and Rustic Canyon Partners.
This funding round will enable Navigating Cancer to accelerate innovation of its Patient Relationship Management (PRM) platform, including the delivery of a more robust mobile experience for oncology patients and the development of the company’s AI-based population care capabilities. And with Navigating Cancer’s platform, oncology practices are able to increase patient engagement, create better experiences for cancer patients, and improve overall cancer care.
This year, Navigating Cancer is on pace to grow its oncology customer base by 40%. And the accelerated adoption of Navigating Cancer’s unique platform is enabling more practices to succeed in delivering value-based care — which is a model that pays hospitals and physicians based on patient outcomes as opposed to fixed fees based on the service provided.
“This investment from these leading healthcare organizations really affirms the work that Navigating Cancer is doing to improve patient care and the success we’re seeing in helping oncology providers make the shift to value,” said Navigating Cancer CEO Bill Bunker in a statement. “I’m excited about the innovations we’re making in areas like patient-reported outcomes and population care and the potential they have to further improve patient outcomes and satisfaction.”
Navigating Cancer’s PRM platform is known for helping providers manage patient interactions, improve the patient experience, and deliver value-based care more effectively. Plus it increases the flow of communications between in-office visits, which boosts patient engagement in their own care. And Navigating Cancer’s platform also helps providers contain escalating costs.
“Oncologists must care for patients in an extremely complex regulatory and reimbursement environment, while managing a rapidly expanding number of therapy choices and effects across indications,” added David M. Rubin, Ph.D., a Managing Director at Merck GHIF. “We’re delighted to continue our investment in this comprehensive patient care platform.”
Patients can use the PRM platform to send messages to their doctor, receive reminders to take their medications, and report systems via a mobile app. And care providers can triage patient needs, assess and manage symptoms and side effects, and streamline communications and care coordination for quicker responses.
“More and more oncology practices are picking up the NC oncology platform because it’s a superb example of the heightened effectiveness created by leveraging 21st-century technology in the practice of medicine,” explained Bob Crutchfield, a managing director of BrightEdge (the philanthropic impact fund of the American Cancer Society).
Going forward, Navigating Cancer’s innovation in the PRM platform will incorporate artificial intelligence to support the assessment of patients at risk for various issues and identify proactive interventions to help improve care.
“As the dynamics of how providers, patients, and caregivers interact with one another continue to change in healthcare, Navigating Cancer’s platform represents a powerful example of technology enhancing the delivery of care and improving the overall healthcare experience,” commented Timothy D Scallen, a Principal at TT Capital Partners. “We look forward to collaborating with the management team to further extend Navigating Cancer’s platform reach and enhance the benefits it delivers to all cancer patients and providers.”
