Cardinal Analytx Solutions, a Palo Alto, Calif.-based artificial intelligence (AI)-enabled health insights company, raised $22m in Series B funding.
The round was led by John Doerr, who will also serve on the Cardinal Analytx board of directors, with participation from strategic investors GuideWell Mutual Holding Corporation, Blue Shield California and Premera Blue Cross.
The company intends to use the funds to extend its lead in the innovative use of machine learning to drive proactive healthcare through investments in talent and technology.
Founded by Stanford professors Drs. Arnie Milstein and Nigam Shah, who also is joining the company’s board, in partnership with Cardinal Partners, spun out of StartX in 2017 and now led by CEO Linda T. Hand, Cardinal Analytx combines AI-enabled data science with health insights, identifying people at high risk of rising cost and worsening health in the future and matching them with interventions to prevent their decline. Cardinal also can predict specific types of high-cost, high-acuity events well in advance, providing the lead-time needed to match members with higher value providers in a timely manner.
The company partners with health plans, employers and providers across the nation to improve lives and decrease costs for millions of people.
After a number of successful pilots, Cardinal Analytx announced its first multiyear customer, Premera Blue Cross, earlier this year.