BrightInsight Secures $25M Series A Funding to Accelerate Global Commercialization of Its Digital Health Platform

On September 9, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical information technology company BrightInsight announced the completion of a $25 million Series A financing round. This round was led by New Leaf Venture Partners (NLVP) and Eclipse Ventures.

It is reported that BrightInsight plans to use the proceeds from this financing round to accelerate the global commercialization of its digital health platform, and to integrate electronic health records (EHR), medical payment systems, and disease management programs to diversify the platform’s capabilities.

BrightInsight, founded in 2017 and headquartered in California, USA, is a medical information technology company. The company is dedicated to developing digital health platforms that serve biopharmaceutical and medical technology enterprises. As a subsidiary of the healthcare company Flex Health Solutions, BrightInsight boasts extensive experience in the digital health sector.

BrightInsight has developed the world’s leading digital health platform. This medical-grade Internet of Things (IoT) platform is designed for data transmission, integration, and analysis of pharmaceuticals, medical devices, and medical software, aiming to mitigate management risks and help optimize diagnosis and treatment workflows.

The BrightInsight digital health platform is governed by a rigorous quality management system and has achieved HITRUST CSF alignment with the National Institute of Standards and Technology (NIST) Cybersecurity Framework, as well as HITRUST certification. HITRUST certification is one of the most authoritative security certifications in the healthcare industry.

BrightInsight has partnered with Novo Nordisk, a world-leading biopharmaceutical company, to co-develop innovative therapeutic solutions for diabetes, aiming to improve clinical outcomes for patients. Additionally, the company has received funding from Roche to develop medical technologies for hemophilia A.

This year, BrightInsight was named “Best IoT Healthcare Platform” by MedTech Breakthrough. MedTech Breakthrough is a professional, independent awards organization in the global healthcare and medical technology sectors.

Kal Patel, CEO and Co-Founder of BrightInsight, stated, “Our investors are experts in the healthcare and software technology sectors, empowering BrightInsight to develop a globally leading digital health platform. This financing will drive the company’s growth while helping us integrate our medical technology solutions into a broad global healthcare ecosystem.”

Vijay Lathi, General Manager of NLVP, stated, “It is evident that digital technology is critical to the transformation of healthcare systems. We will continue to support BrightInsight and work closely with its team to improve the quality of patient care and reduce healthcare costs.”

NLVP, established in 2005 and headquartered in New York, USA, is a venture capital and private equity firm. With decades of expertise in investment management, the company primarily focuses on the biopharmaceutical, medical device, and medical technology sectors, providing financial support to innovative enterprises.

Eclipse VC was founded in 2015 and is headquartered in California, USA. It is a venture capital and private equity firm. The company focuses on the science and technology sector, primarily investing in life sciences, artificial intelligence, logistics, and machine learning industries to drive technological and economic development.

(Compiled by Xu Xiaoxue)