MDClone Secures $26 Million Series B Funding to Advance Healthcare Data Platform and Expand Market Reach

On August 23, 2019, VCBeat (WeChat ID: vcbeat) learned that MDClone announced the completion of a $26 million Series B financing round. The round was led by aMoon, a health-tech venture capital fund, with additional capital provided by existing investors OrbiMed Israel Partners and Lightspeed Venture Partners. MDClone will use the proceeds to further develop its existing platform, build new data products, and drive sales and marketing efforts.

MDClone’s platform addresses the challenges of accessing healthcare data for operational and quality improvement, research, or innovation. Key among these are safeguarding patient privacy, retrieving complex data, and integrating with IT systems.

Ziv Ofek, Founder and CEO of MDClone, stated, “We often miss opportunities to leverage data for improving healthcare. MDClone’s solution analyzes data and, with new capabilities added by aMoon and continued support from OrbiMed and Lightspeed, transforms it into a true strategic asset to enhance the healthcare industry.”

MDClone was founded in Israel in 2016 and has since expanded to the United States, with current clients including Washington University School of Medicine in St. Louis, Intermountain Healthcare, and the Regenstrief Institute. Its Israeli clients include Rambam Health Care Campus, Sheba Medical Center, Tel Aviv Sourasky Medical Center, Maccabi Healthcare Services, Clalit Healthcare Services, and Assuta Medical Center.

MDClone has established the first platform to democratize data across the entire healthcare ecosystem, enabling on-demand, self-service access to healthcare data without the need for IT intermediaries. By leveraging synthetic data, MDClone eliminates risks to patient privacy. At the core of the MDClone platform is a database and query tool designed specifically for the healthcare industry. Together with MDClone’s patented synthetic data engine, it provides clinicians and researchers with a rapid, secure, self-service environment to gain insights into care patterns for specific populations. While fully safeguarding patient privacy, MDClone also creates opportunities for clients to develop new services, technologies, and treatments.

“MDClone is tackling a critical challenge in health tech: enabling fast and easy access to health data while safeguarding patient privacy and ensuring healthcare compliance,” said Yair Schindel, M.D., Co-Founder and Managing Partner at aMoon. “We are honored to partner with Ziv Ofek and his team, who will elevate the standard of healthcare for millions of people worldwide.”

MDClone has launched the world’s first healthcare data sandbox, putting data into the hands of those who can leverage it to transform healthcare delivery. The data sandbox is powered by MDClone’s synthetic data engine and vertical database. By eliminating privacy concerns and data restrictions, the sandbox enhances data quality and drives research innovation. Healthcare data sandboxes have already been adopted by healthcare systems, HMOs, pharmaceutical companies, and research institutions worldwide.

 aMoon is a global health-tech venture capital firm based in Israel, founded by Dr. Yair Schindel, former Chief Marketing Officer of the Israeli Navy SEALs and former CEO of the Israel National Digital Agency, and managed by Marius Nacht, Co-Founder and Chairman of Check Point Software. The fund aims to leverage the growing convergence of medicine and technology to accelerate treatments for life-threatening diseases.

OrbiMed is a leading investment firm focused on the healthcare industry, with approximately $14 billion in assets under management. OrbiMed’s team comprises more than 100 professionals and manages a range of private equity funds, public equity funds, credit/debt funds, and other investment vehicles. Headquartered in New York City, USA, OrbiMed has offices in Herzliya, San Francisco, Shanghai, and Mumbai.

 Lightspeed Venture Partners is a venture capital firm that invests in the consumer, enterprise, technology, and cleantech markets, with a focus on debt financing for startups and growth-stage companies. Over the past two decades, the Lightspeed team has helped hundreds of entrepreneurs build more than 350 companies worldwide, including Snap, The Honest Company, Nest, Nutanix, AppDynamics, MuleSoft, and GrubHub. The firm currently manages over $9 billion in committed capital and has investment professionals based in the United States, Israel, India, and China.

(Compiled by: Tian Shuhang)