The funding will support expansion of the company’s holistic-health and heart-health decision support solutions for health insurers and Medicare Advantage Plans.
Asheville, NC. (July 21, 2022) – Ilumivu, Inc., a pioneer in predictive and personalized decision support systems to pre-diagnose health conditions announced that it has closed a new funding round with an investment from The Pisgah Fund. This follows an initial investment by Health Catalyst Capital, L.P. in October 2021.
Already a leader in heart health with over 3.7 million downloads of its mobile app called Cardiogram, ilumivu provides continuous cardiovascular monitoring to pre-diagnose conditions such as diabetes, hypertension, atrial fibrillation and sleep apnea. Using captured data from a standard smartwatch processed through trained neural networks with millions of cardiovascular data points, ilumivu can accurately pre-diagnose these conditions and help health nsurers, Medicare Advantage plans and at-risk employers reduce the total cost of care.
“Our solutions provide better outcomes for members while simultaneously reducing the total cost of care managing these conditions through early detection,” states Sandeep Goel, Chief Executive Officer. “Our 13-year history of using early-signal data collected from wearables by our healthcare research customers is being applied to engage members, increase adherence, impact positive behavior changes, and provide monitoring for better member engagement.”
“Smartwatches have been a source of valuable health insights in the consumer market, but it has been difficult to translate those insights into improved health outcomes in the broader healthcare system,” said Lauren Pierce Flickinger, Fund Manager for the Pisgah Fund. “We are excited to partner with the ilumivu team as they provide health insurers and Medicare Advantage plans with a solution that bridges this gap.
“We are very excited to partner with The Pisgah Fund, given that both organizations are based here in Western North Carolina with a common mission to grow the healthcare technology eco-system and create economic opportunities in the greater Asheville area,” added T. David Smith, President at ilumivu.
Founded in 2009, Asheville, NC based ilumivu provides healthcare decision support applications using the psychology of behavior change, combined with real-time data from smartwatches and smartphones to reduce healthcare costs. With a pedigree in research in multiple disease areas at over 100 leading research universities and health systems, ilumivu delivers just-in-time interventions based on individualized baselines to improve measurable member care outcomes. https://ilumivu.com/
About Pisgah Fund
Pisgah Fund is a $50 million venture fund investing in healthcare-related companies in Western North Carolina’s 18-county region or locating operations in the region. The Fund focuses on high growth opportunities seeking early-stage VC investment that will create jobs in Western North Carolina. The Fund is managed by Hatteras Venture Partners and was created with investments from the Dogwood Health Trust and HCA Healthcare Mission Fund. https://pisgahfund.com