Socially Determined Secures $7.3M Series A Funding to Expand Cloud-Based Healthcare Analytics Platform SocialScape™

VCBeat (WeChat ID: vcbeat) has learned that on October 29, 2019, medical technology startup Socially Determined announced the completion of a $7.3 million Series A financing round. The round was jointly led by Ziegler Link·Age Funds, ProMedica, 3M, OSF HealthCare, and LRVHealth.

Socially Determined, founded in 2017 and headquartered in Washington State with an office in Virginia, is a medical technology analytics company. It employs a team of experts specializing in statistical analysis, data science, innovation, and healthcare. The company focuses on measurement science and the social determinants of health (SDOH), striving to integrate social determinants affecting health outcomes with clinical data to advance understanding and improvement in the healthcare sector.

The company’s flagship analytics product, SocialScape™, quantifies SDOH risk and provides unprecedented insights into how SDOH impacts healthcare costs, utilization, and outcomes. SocialScape™ is the industry’s first analytics platform that leverages the largest curated repository of SDOH data in the United States to quantify and visualize social risk.

By leveraging advanced analytics, proprietary algorithms, and machine learning models, Socially Determined employs a comprehensive approach to assessing and measuring SDOH risks, providing in-depth cohort analysis that enables healthcare organizations to improve how they address critical social issues and expand their operations into new regions and risk areas.

Trenor Williams, CEO and Co-founder of Socially Determined, stated, “Our technology integrates clinical disease burden, utilization patterns, social risks, and demographic data to build a business case for health outcomes programs that address issues such as food insecurity and housing instability. This not only positively impacts individual lives but also generates tangible cost savings for health systems and business stakeholders.”

Neil Borg, Chief Strategy Officer of Ziegler Link·Age Funds, stated, “Socially Determined is striving to become a leader in the field of SDOH analytics and has generated strong interest across markets in multiple sectors, including healthcare. We are proud to lead this round of investment.”

Socially Determined will leverage this new funding to further develop and expand its secure, cloud-based SocialScape™ platform, invest in top-tier talent, and establish marketing initiatives tailored to specific industries.

Ziegler Link·Age Funds is a growth-oriented innovation fund from Ziegler, focusing on technology, technology-enabled services, emerging post-acute care models, and the aging market.

ProMedica, established in 1988, is a non-profit health system in the United States.

3M, founded in 1902, is a diversified technology company based in St. Paul, Minnesota, USA. The company operates in 65 countries and regions worldwide and manufactures more than 55,000 products.

OSF HealthCare, established in 1988, is an integrated healthcare network company in the United States that serves patients and families in central and northern Illinois and northern Michigan. OSF HealthCare owns OSF Medical System and a primary care network comprising more than 600 primary care practices, specialist physicians, and advanced practice providers.

LRVHealth, founded in 2000 and headquartered in Boston, USA, is an early-stage venture capital firm. The company is dedicated to investing in and building disruptive next-generation digital health, device, and diagnostics companies. Its team comprises experienced healthcare entrepreneurs, operators, and investors.

(Compiled by Jiang Ying)