BrightInsight Scoops Up $25M Series A
SAN JOSE, CA, BrightInsight announced today a Series A funding round of $25 million co-led by New Leaf Venture Partners and Eclipse Ventures.
The funding enables BrightInsight to further enhance the functionality of its BrightInsight Platform and accelerate global commercialization efforts for the leading global regulated digital health platform serving biopharma and medtech customers.
BrightInsight will also further integrate its platform into the broader healthcare ecosystem, including Electronic Health Records (EHRs), payers and disease management programs.
"Since the launch in 2018, our BrightInsight Platform has become the leading global regulated digital health platform for the world's top biopharma and medtech companies," said Kal Patel, MD, CEO and Co-Founder, BrightInsight. "Our investors have strong pedigrees in healthcare as well as software and technology, which clearly validates our success thus far. This financing enables us to continue to invest in our differentiated platform while also integrating our solutions into the broader healthcare ecosystem globally."
The BrightInsight Platform is a medical-grade Internet of Things (IoT) platform built under a robust ISO 13485:2016 certified Quality Management System to support and optimize regulated drugs, devices and software through integrated data and actionable insights. It also enables our customers to increase patient adherence and engagement. Having achieved the upmost privacy, security, regulatory and quality certifications, BrightInsight was selected as Novo Nordisk's global digital health partner to develop innovative solutions for diabetes patients. Additionally, the company announced the launch of a dosing calculator to treat patients with Hemophilia A, which was sponsored by F. Hoffmann-La Roche.
In the past year, the award-winning BrightInsight Platform was selected as the "Best IoT Healthcare Platform" in the 2019 MedTech Breakthrough Awards, the "2018 Google Cloud Partner of the Year for Healthcare and Life Sciences," and was featured as the cover story for CIOReview Magazine's "20 Most Promising Biotech Solution Providers 2019."
"It's clear that digital technologies are critical to transforming the healthcare system," said Vijay Lathi, Managing Director, New Leaf Venture Partners. "We believe that BrightInsight will be a central piece in that transformation by enabling biopharma and medtech companies to deploy clinically impactful digital health solutions that have the potential to improve the quality of patient care while also reducing costs."
"Bringing healthcare to the edge will revolutionize patient care. While personalized medicine has long promised to deliver life-changing results, there has been limited adoption due to the lack of a secure, regulated infrastructure," said Justin Butler, Partner, Eclipse Ventures. "The medical-grade BrightInsight Platform will accelerate a new class of regulated therapies -- from Software as a Medical Device to connected drugs and devices -- delivering improved patient outcomes and experiences."
"As connected medical devices and therapeutics continue to proliferate, the BrightInsight Platform serves as the ideal regulated cloud solution to securely manage the new data these products generate," said John Carlson, President, Health Solutions, Flex. "As a strategic partner, Flex will continue to support the BrightInsight Platform and work closely with the team to deliver reliable and innovative Sketch-to-Scale┬® health solutions for our biopharma and medtech customers around the world."
The BrightInsight Platform is HITRUST CSF┬® Certified and HITRUST Certified of the NIST Cybersecurity Framework to manage risk, improve security posture and meet compliance requirements. The BrightInsight Platform is also ISO/IEC 27001:2013 certified, HIPAA and GDPR compliant and certified under both the EU-U.S. and Swiss-U.S. Privacy Shield frameworks.
ABOUT BRIGHTINSIGHT, INC.
BrightInsight provides the leading global regulated digital health platform for biopharma and medtech. Our medical-grade Internet of Things (IoT) platform is built under a robust QMS ISO 13485:2016 to enable regulated drugs, devices and SaMDs to ingest and analyze data and deploy regulated recommendations and insights back to patients and providers. Additionally, the BrightInsight Platform captures, transmits and analyzes data from CE-marked and FDA-regulated medical devices, combination products, apps and Software as a Medical Device, conforming with security, privacy and regulatory requirements such as HITRUST and GDPR. For more information, visit BrightInsight's website, our blog, Twitter and LinkedIn pages.
ABOUT NEW LEAF VENTURE PARTNERS
NLVP was formed in 2005 when the healthcare team spun out of the Sprout Group. The NLVP team has been built over the last two decades and managed healthcare technology portfolios in four Sprout funds and six New Leaf funds, including our two latest funds - New Leaf Ventures IV for venture investments and New Leaf Biopharma Opportunities II for private and public growth-stage biopharmaceuticals investments. We partner with companies across all phases, from startup to public offerings, as we look to invest in visionary teams, businesses at the forefront of biology and innovation, and disruptive healthcare technologies across the entire healthcare system. And we share our broad perspectives, decades of experience and deep domain expertise to help our portfolio navigate the complexity of the healthcare industry. For more information, visit www.nlvpartners.com.
ABOUT ECLIPSE VENTURES
Eclipse Ventures is a technology-focused investment firm specializing in complex operations. Founded in 2015 and based in Palo Alto, CA, Eclipse partners with entrepreneurs boldly transforming the essential industries that define and propel economies. To learn more, visit http://eclipse.vc/
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