Medisafe, a Boston healthtech startup that helps patients better manage their prescriptions, announced Thursday it closed on a $30 million Series C led by Sanofi Ventures and Alive Israel Healthtech Fund.
Founded in 2012, Medisafe claims to be the largest medication management platform today, with more than seven million registered users globally.
Essentially, it is a very smart pill organizer in the form of an app, helping users track what medications they’ve taken and when. The platform learns about each user’s unique situation so it can deliver custom notifications, medication updates and personalized health recommendations to help them stay organized and informed. It also tracks a patient’s health progress, monitoring things like blood pressure and glucose level.
Incidentally, by engaging with these patients so closely, the platform is also able to deliver valuable information to its partners (other health organizations), improving what Medisafe CEO Omri Shor refers to as the “healthcare continuum” overall.
He says this blend of digital health and digital therapeutics is what makes Medisafe’s technology so unique to the industry.
“Technology such as Medisafe puts power into patients’ hands in the safety of their homes, providing greater connectivity and engagement among providers, pharma, caregivers, and payers,” Omri told Built In via email. “We help to ensure continued support to patients well after the script is written and when the treatment begins at home.”
This focus on remote health monitoring has been crucial due to the global pandemic, and has sparked a renewed interest among patients to manage their health digitally. Shor says this increased adoption and interest has led Medisafe’s platform and business to grow.
For instance, last year the company launched the Medisafe Care Connector, a tool that enables clinicians to remotely connect with patients. In September it also launched Maestro, which provides a digital summary of a patient’s medical journey to better support them and integrate their information with other vendor data.
These new tools are just the first step into what Shor sees as the future of digital healthcare: a model that adapts to better facilitate human connections between patients and clinicians.
This fresh funding will be used to help Medisafe further expand its platform and grow its team. Shor says the company has about 60 employees between its Boston headquarters and office in Israel, and that it will hire another dozen employees in 2021 and continue growing into 2022.
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