MDClone is an Israeli startup that has introduced the world’s first “healthcare data sandbox,” which is designed to give healthcare providers more data on a patient in order to successfully develop a treatment plan. Using the company’s Synthetic Data Engine and Longitudinal Database, the Sandbox helps provide greater security and data limitations in order to provide better quality research and data. The goal of the technology is to streamline medical information and decision-making. MDClone’s Healthcare Data Sandbox is in use in health systems, HMOs, pharmaceutical and other companies from around the world.
The medtech startup announced that it raised $26 million during a Series B funding round, which was led by aMoon, a healthcare technology venture capital firm. Other notable participants in the Series B round were OrbiMed Israel Partners and Lightspeed Venture Partners. There was no valuation disclosed in the release. Overall, MDClone will use proceeds to continue developing its platform, building new products, and leveraging data across its global network. Here is the full press release detailing of the Series B funding round:
MDClone Press Release:
BEER-SHEVA, Israel, Aug. 22, 2019 /PRNewswire/ — MDClone announced today the closing of a $26 million Series B funding round led by health-tech venture capital fund aMoon, with additional funding from existing investors OrbiMed Israel Partners and Lightspeed Venture Partners. MDClone has built the first of its kind platform which democratizes data to the entire healthcare ecosystem, enabling on-demand and self-service access to healthcare data without IT mediators and, using synthetic data, without risk to patient privacy.
MDClone’s platform addresses the myriad of problems accessing healthcare data for operations and quality improvement, research or innovation. Chief among them are protecting patient privacy, navigating complex data and IT systems. “Every moment of every day there is a missed opportunity to use data to improve healthcare. MDClone’s solution unlocks data and with the newly added power of aMoon and continued support from OrbiMed and Lightspeed, we can turn data into a real strategic asset to transform care around the world,” said Ziv Ofek, Founder & CEO of MDClone and previously the founder of dbMotion, which was acquired by Allscripts.
With the new funding, MDClone will further develop its existing platform and build new products and novel approaches leveraging data across its global network, as well as accelerate sales and marketing efforts. MDClone was founded in 2016 in Israel and has since expanded to the U.S. where its current clients include Washington University School of Medicine in St. Louis, Intermountain Healthcare and the Regenstrief Institute. 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.
At the core of MDClone’s platform is a healthcare-oriented data lake and discovery tool which, together with MDClone’s patented Synthetic Data Engine, provides a rapid and safe self-service environment for caregivers and researchers to understand any element of the care path for any population of interest. This breakthrough in speed to data and insights, while fully protecting patient privacy, has opened new opportunities for collaboration and the development of new services, technologies and treatments by MDClone clients.
“MDClone is resolving one of the greatest challenges in this emerging era of health-tech: centralizing, optimizing and enabling quick and easy access to health data, while preserving privacy and compliance,” said Yair Schindel, MD, Co-Founder and Managing Partner of aMoon. “We are honored to partner with Ziv Ofek and his outstanding team who will upgrade healthcare for millions globally.”
MDClone (www.MDClone.com) introduces the world’s first Healthcare Data Sandbox, finally putting data in the hands of those who can use it to transform care. Powered by MDClone’s Synthetic Data Engine and Longitudinal Database, the Sandbox eliminates privacy concerns and data limitations to improve quality, empower research and drive innovation. The Healthcare Data Sandbox has been deployed worldwide in health systems, HMOs, pharma companies and research institutes.
aMoon (www.amoon.fund) is a global HealthTech VC fund based in Israel, founded by Dr. Yair Schindel MD, former CMO of the Israeli Navy Seals and CEO of Israel’s National Digital Bureau, and anchored by Marius Nacht, Co-Founder and Chairman of Check Point Software. The fund aims to accelerate cure for life-threatening diseases and reduce major cost-drivers in healthcare, by leveraging the growing convergence of healthcare and technology.
OrbiMed (www.orbimed.com) is a leading investment firm dedicated exclusively to the healthcare sector, with approximately $14 billion in assets under management. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies. OrbiMed’s team of more than 100 employees manages a series of private equity funds, public equity funds, royalty/debt funds and other investment vehicles. OrbiMed maintains its headquarters in New York City, with additional offices in Herzliya, San Francisco, Shanghai and Mumbai.
About Lightspeed Venture Partners
Lightspeed Venture Partners (www.lsvp.com) is an early-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 350 companies globally, including Snap, The Honest Company, Nest, Nutanix, AppDynamics, MuleSoft, and GrubHub. The Firm currently manages over $9 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India, and China.