Ada Health is a global health company that simplifies healthcare journeys and helps people take care of themselves. Recently, the Berlin-based firm has secured $90 million (approx £63.3 million) funding in Series B round led by Leaps by Bayer, the impact investment arm of Bayer AG.
Other investors including Samsung Catalyst Fund, Vitruvian Partners, Inteligo Bank, F4, and Mutschler Ventures, also participated.
How will the funding be used?
The investment will be used to advance Ada’s popular health assessment technology and to grow its position in the United States. Besides funding, Bayer and Ada Health are in discussions about entering into a longer-term strategic partnership to support the company’s healthcare businesses.
The German health company was founded by doctors, scientists, and industry pioneers to create new possibilities for personal health.
AI-based health assessment
Co-founded by Claire Novorol, Daniel Nathrath, and Martin HirschAda, Health has developed an AI-based health assessment and care navigation platform.
It’s worth mentioning that Dr. Claire Novorol is a British and a former NHS doctor. Prior to founding Ada, Claire worked as a Paediatrician within the NHS before specialising in Clinical Genetics.
It helps users to understand their symptoms, to identify and differentiate conditions with a high degree of medical accuracy, and to navigate safely to the right care, at the right time.
The Ada platform has over 11 million users worldwide and has completed over 23 million assessments since its global launch in 2016. Also, the company’s core technology is available in a suite of AI-driven enterprise solutions.
The company is collaborating with a range of leading health systems, insurers, life sciences companies, and global non-profit organisations to integrate its symptom assessment and care navigation solutions into a range of digital care journeys to improve outcomes for patients, consumers, and healthcare providers.
“Investing in breakthrough technologies that drive digital change in healthcare is one of the strategic imperatives for Leaps by Bayer and for the entire field of healthcare,” said Dr. Jürgen Eckhardt, Head of Leaps by Bayer. “Ada’s a truly transformative technology, combining powerful artificial intelligence with an emphasis on medical rigor and high levels of clinical accuracy will lead the way in helping more patients and consumers in achieving better health outcomes sooner by intervening earlier in their healthcare journey.”
“Today’s investment will help bring us closer to our goal of improving healthcare outcomes for more than 1 billion people around the world. We’re proud to have investors on board who truly believe in Ada’s technology and vision of transforming the way people access healthcare,” Daniel Nathrath, CEO and co-founder of Ada Health comments on today’s announcement. “We are thrilled to have Leaps by Bayer as the lead investor particularly as our values are very much aligned with putting science and technology as well as a commitment to medical quality and user-centricity at the heart of everything we do.”