Evidation Raises $45 Million Series D, Hires CCO To Accelerate Commercial Momentum and Expand Into Virtual Health
Sam Marwaha joins as Chief Commercial Officer; Company to deploy virtual health programs for its network of nearly 4 million individuals later this year
Evidation Health announced the close of $45 million in Series D funding to power the expansion of its privacy-first, direct-to-person research platform, Achievement, to include virtual health. The company will use this new capital to build upon its existing evidence generation capabilities to offer real-time insights and digital tools to its network of nearly 4 million individuals.
B Capital Group led the round, which includes new investors McKesson Ventures and Section 32 as well as existing investors Revelation Partners, Rethink Impact, and SV Health Investors. B Capital’s Adam Seabrook has joined Evidation’s Board of Directors. Sam Marwaha, Senior Partner at Boston Consulting Group and long-time advisor to Evidation, joins the company as Chief Commercial Officer.
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The company will leverage this investment to continue to rapidly grow its study solutions business and offer programs that enable Achievement members to gain clinically actionable insights into their health. These include relevant digital interventions, treatments, and tools to help individuals understand and take advantage of the latest evidence, in partnership with their care teams. The first of these new virtual health offerings is slated for release later this year. Evidation will continue to expand and diversify the Achievement population — already the largest and most demographically and geographically diverse connected cohort in the United States — to serve additional at-risk and disease-specific cohorts. Achievement already includes participants residing in all 50 states and in 9 out of every 10 ZIP codes nationwide.
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“Participation in research is an activator for individuals to better understand their health and seek care proactively,” said Evidation CEO Deborah Kilpatrick, Ph.D. “The natural next step for Evidation is to decrease the latency between evidence and action by offering virtual health programs, while still keeping privacy and consent at the forefront. We are especially excited to have Sam Marwaha, a pioneer in real-world evidence and an experienced digital health strategist and operator, join us to lead our commercial endeavors as the company ushers in a new era of self-activated care.”
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