ClosedLoop.ai, an Austin, Texas-based healthcare’s data science platform, closed an $11m Series A funding.
The round was co-led by Greycroft and .406 Ventures with participation from Silicon Valley Bank and Meridian Street Capital.
The company intends to use the funds to expand operations and its business reach.
Founded in 2017 by serial entrepreneur Andrew Eye and Dave DeCaprio, ClosedLoop enables healthcare organizations to use data science to improve outcomes and reduce costs by combining an end-to-end machine learning platform for data scientists with a catalog of healthcare specific predictive models and features. The platform provides AI tools and automation capabilities enabling data scientists to build and deploy accurate and explainable predictive models with speed and ease. The system supports data science teams with healthcare specific tools for data prep, automated feature engineering, AutoML / model training, and deployment / MLOps. Customers have the ability to build their own advanced custom models using ClosedLoop’s exclusive content library or take off the shelf models and customize them as their own. The company’s content library provides more than 2,000 healthcare features including medication adherence, frailty, co-morbidities and more and a collection of extendable pre-built predictive and prescriptive models for common healthcare use cases. The pre-built features and AutoML capabilities provide a low-code option for organizations without internal data science expertise, while the API allows for advanced users to leverage ClosedLoop’s capabilities within the tools they already use such as Python and Jupyter Notebooks.