Cardinal Analytx Solutions, a Palo Alto, CA-based developer of advanced machine learning solutions for improving healthcare by predicting impending costs, raised $6.1m in Series A funding.
The round was led by Cardinal Partners with participation from Premera Blue Cross and the Stanford-StartX Fund.
The company intends to use the funds to continue advancing its technology with the addition of data science, engineering and clinical capabilities.
Co-founded by Stanford professors Drs. Arnie Milstein (a managed care expert who directs the Clinical Excellence Research Center and teaches at the Stanford University School of Medicine) and Nigam Shah (a Stanford professor of medicine and biomedical data science, an expert on applying machine learning to healthcare problems and co-director of Stanford’s Center for Biomedical Informatics Research), and led by Thomas McKinley, CEO, Cardinal Analytx is an early-stage predictive analytics company that leverages machine learning and AI technology to identify potential high-expense health plan enrollees and provide targeted clinical recommendations designed to improve patient outcomes and contain costs.
The company was spun out of Stanford University-affiliated StartX startup accelerator.