NEW YORK, NY, Software-as-a-service (SaaS) provider that gives labs a digital platform for their patients to access and understand their lab test results, today announced a $1M seed round led by KEC Ventures.
Luminate Health, Inc. (Luminate Health), an innovative software-as-a-service (SaaS) provider that gives labs a digital platform for their patients to access and understand their lab test results, today announced a $1M seed round led by KEC Ventures.
The announcement follows the company's graduation from prominent New York City-based health tech accelerator, Blueprint Health, earlier this year. The company is partnering with commercial and hospital labs, including one of the top 10 labs in the US.
Launched in 2012, Luminate Health is transforming the way that patients understand and manage their own health, and has uniquely connected labs, physicians, and patients with its service. With legislation that will require labs to provide patients with digital access to their lab results going into effect later this year, Luminate Health enables labs to go a step further. With the company's service, labs can not only help patients make sense of their lab results, but also help physicians improve their relationships with patients and save time on communication. As a result, labs also improve their relationships with both physicians and patients.
'Labs are also information companies, but simply providing lab result data to patients isn't enough. Today, patients have very little understanding of what their lab results mean,' said Sidd Sinha, CEO and Co-founder of Luminate Health. 'Consequently, in a $75B US medical testing market, much of the benefit of this testing can be lost. Luminate Health is changing that. By enabling patients to understand their lab results, we empower them to become active managers of their own health. Since up to 70% of decisions around a patient's prevention, treatment, and diagnosis involve lab test results1, this is an important place to start as part of a patient's overall medical care.'
Jeff Citron, Managing Partner of KEC Ventures and Chairman of Vonage, has joined Luminate Health's board of directors.
'The inability of patients to participate in managing their own health is a massive gap in the healthcare system. The proliferation of IT-based solutions for healthcare will dramatically change that. That has enormous benefits for patients themselves, but it's also a huge opportunity for the organizations that provide care to patients,' said Citron. 'Luminate Health is poised to address this opportunity by re-envisioning how patients interact with their medical information and with its model for connecting labs, physicians, and patients. We're excited to be partnering with Luminate Health to help them grow and scale their service across this incredibly large space.'
'Medical test results encompass such a large part of a patient's medical record. We're taking a patient-centric design approach to unlock the value of these results for the entire ecosystem - patients, physicians, and labs,' said Sinha. 'Looking forward, we're also employing our own analytics to pull out powerful insights for better, more targeted care to individual patients.'
About Luminate Health
Luminate Health offers a HIPAA-compliant SaaS solution that gives labs an easy and cost-effective way for patients to access, manage, and understand their lab results. The company will expand into an even broader set of medical information as adoption of its services continues to grow. For more information, visit
www.luminatehealth.com, or email hello@luminatehealth.com.
About KEC Ventures
KEC Ventures is a venture capital firm that invests in early stage technology companies across a wide spectrum of industries. KEC partners with talented entrepreneurs and works alongside them to offer strategic advice and support in all facets of their business.
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