OM1, an AI-powered analytics company for the healthcare industry, raised $50 million in its latest funding round.
This Boston-based startup was founded in 2015 by Dr. Richard Gliklich to serve healthcare regulators, payers and providers. According to a release issued by the startup, it focuses on chronic conditions like immunology, rheumatology and musculoskeletal conditions.
By organizing health information and applying big-data analytics, OM1 allows its users to better understand the effectiveness and safety of a given treatment and expedite its approval.
For example, pharmaceutical companies can use the data in their conversations with the Food and Drug Administration about the approval of a new drug. Physicians can use it to figure out the best treatment for a patient. The idea is to make information about medical treatments more accessible to healthcare stakeholders using artificial intelligence.
“AI and data are driving factors in the transformation of many industries,” Rory O’Driscoll, one of OM1’s recent funders managing director with Scale Venture Partners, said in a statement. “OM1 is at the forefront of bridging these two transformative ways in healthcare, and we are excited to be part of the journey to drive the better development of medicine and delivery of care.”
Glikich said in a statement that OM1 plans to use this most recent funding to continue building out its platform and expand its sales, marketing and product development activities.
“Clinical outcomes are the most important metric in healthcare,” said Gliklich. “With this funding, OM1 will accelerate our work towards delivering rapid access to real-world outcomes and evidence and with helping our customers apply those data in impactful ways.”
