Navigating Cancer Secures $26M Series D Funding to Advance Patient Relationship Management Platform for Oncology Care

On September 29, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical information technology company Navigating Cancer announced the completion of a $26 million Series D financing round. The round was led by Merck Global Health Innovation Fund (Merck GHI) and TT Capital Partners (TTCP), with participation from BrightEdg, LabCorp, ORIX Growth Capital, and Rustic Canyon Partners.

Navigating Cancer will leverage the proceeds from this financing round to accelerate innovation in its Patient Relationship Management (PRM) platform, delivering high-quality care services to oncology patients.

It is reported that Navigating Cancer has completed six rounds of financing, raising a total of $55.5 million. Notably, the company secured $12 million in March 2019 and completed its $10 million Series C funding round in August 2015.

Navigating Cancer, founded in 2008 and headquartered in Seattle, Washington, USA, is a healthcare information technology company. The company is dedicated to creating online communication platforms that bridge the gap between cancer patients and their care teams. Furthermore, Navigating Cancer provides patient-centered personalized care services, including health record management and tailored information delivery.

Navigating Cancer has developed a Patient Relationship Management (PRM) platform for cancer patients to facilitate interaction among patient communities and between patients and physicians, thereby improving the patient care experience and enhancing healthcare efficiency. Specifically, patients can use the PRM platform for disease consultations, symptom reporting, peer-to-peer communication, and receiving medication reminders. Meanwhile, healthcare providers can leverage this platform to understand patient needs, monitor therapeutic regimens, and assess and manage patient conditions.

Furthermore, the PRM platform will also help healthcare institutions control medical costs. A study published in the Journal of Oncology Practice in the United States showed that community cancer centers equipped with the PRM platform experienced a 7% reduction in emergency department visits, significantly lower medical and maintenance costs, and improved quality of care. To date, Navigating Cancer’s end-to-end software platform has been adopted by more than 1,700 cancer care institutions across the United States.

The PRM platform streamlines communication and coordination between physicians and patients. Navigating Cancer stated that the platform will integrate artificial intelligence in the future to assess patient conditions and drug efficacy, thereby assisting healthcare providers in determining proactive interventions to optimize clinical care services.

Bill Bunker, CEO of Navigating Cancer, stated, “This round of financing is an affirmation of Navigating Cancer. We aim to improve patient care and drive progress in the field of oncology treatment. Navigating Cancer will continue to innovate in cancer care.”

Merck GHI, a venture capital firm founded in 2010 and headquartered in New Jersey, USA, primarily focuses on digital health, innovative technologies, and the healthcare sector, with assets under management exceeding $500 million.

TTCP, established in 1997 and headquartered in Minnesota, USA, is a venture capital and financial services firm. The company primarily engages in restructuring and mergers and acquisitions, having invested in healthcare software technology companies such as NextHealth, Clinithink, and Updox.

BrightEdge Fund, headquartered in Georgia, USA, is a venture capital firm. It is a charitable fund established by the American Cancer Society (ACS), primarily dedicated to helping biotechnology and pharmaceutical companies develop novel cancer therapies.

LabCorp, founded in 1976 and headquartered in North Carolina, USA, is a global leader in the life sciences industry. The company primarily provides laboratory testing technologies to researchers, healthcare institutions, and biotechnology and pharmaceutical companies, thereby enhancing the accuracy and reliability of clinical trials.

ORIX Growth Capital, headquartered in Japan, is the venture capital arm of ORIX Corporation. The firm has invested in artificial intelligence and healthcare companies such as SmartAction and Practice Fusion.

Rustic Canyon Partners, established in 1999 and headquartered in California, United States, is a venture capital and private equity firm. The company focuses on investing in digital media, e-commerce, software development, and internet enterprises.

(Compiled by Xu Xiaoxue)