SAN FRANCISCO, CA, Nuna announced that it has closed more than $90 million in funding.
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Nuna, which is participating as a partner in the development of a national modernized data platform for Medicaid, is officially launching out of stealth. The new Medicaid data platform, when through beta and expanded to include data from all states, has the potential to collect and contain eligibility, provider, and managed care plan and other data for 74.5 million lives from all 50 states and the District of Columbia. The company also announced that it has closed more than $90 million in funding to date, led by Kleiner Perkins Caufield & Byers and John Doerr, to continue to scale its team and operations to deliver its health data platform to even more customers.
'The healthcare industry is the largest part of the U.S. economy, with more than 12 million jobs and $3 trillion of annual spend,' said John Doerr, Nuna investor and Chair at Kleiner Perkins. 'Nuna's 'SEAL Team Six' of data and computer scientists transform health data into powerful insights which employers, governments, and health plans are using to save costs, improve quality of care, and change lives.'
Founded to make high-quality, affordable healthcare accessible to everyone, Nuna works with self-insured employers, health plans, and the Centers for Medicare and Medicaid Services (CMS) to deliver actionable insights from data. Based on Amazon's AWS cloud computing technology, Nuna has created a uniquely powerful data platform which securely and cost-effectively ingests, aggregates, and analyzes healthcare information at an unprecedented scale. Data that used to take a week to process can now be done in just hours. Nuna's suite of products help employers, health plans and policymakers answer the questions that matter most to them - questions related to cost, quality, and access to care.
Nuna-Bringing Insights to Government
'Every row of data is a life whose stories deserve to be told with dignity,' said Jini Kim, co¬-founder and CEO of Nuna. 'Unifying data from 50 states and the District of Columbia into a new national data platform for Medicaid would not have been possible without the incredible partnership with CMS. For the first time since the inception of Medicaid, questions can be answered that were never before possible.'
'Building the first Medicaid data warehouse is an important national priority, but it is fraught with complexity. It takes good partners like the Nuna team to make the progress we've made,' said Andy Slavitt, Acting Administrator for CMS. 'The Medicaid system and Silicon Valley have the opportunity to innovate together. Over time, the insights and analysis that can be brought to Medicaid have the potential to shed significant light on the healthcare experience for millions of low-income working Americans.'
Nuna performs this work under prime contractor Quality Software Services (QSSI), which was selected to build the first national data warehouse for Medicaid and the Children's Health Insurance Program (CHIP).
Nuna-Bringing Actionable Insights to Employers and Health Plans
In addition to working with government, Nuna partners with self-insured employers to bring clarity to health plan utilization, identify opportunities to improve employee health, and curb overall healthcare costs, which are expected to increase six percent for a third consecutive year in 2017 at large U.S. companies. Nuna's platform helps these employers integrate many disparate data sources to better manage the health of employees and their families. Nuna is also working with health plans such as Blue Cross Blue Shield North Carolina (BCBSNC) to help improve the quality and affordability of care for members, creating cutting-edge products for network design and evaluating physician performance.
'Most big businesses are investing in analytics, and health insurers are no exception. But with immense amounts of data available today, the biggest challenge is identifying truly actionable insights that lead to real value for a given population. Finding that value for our nearly four million customers is our focus,' said Patrick Getzen, chief actuary for BCBSNC. 'Companies like Nuna that can provide the analytics platform and expertise needed to extract actionable insights, can help link consumers to the right care at the right time-leading to better outcomes and more affordable healthcare.'
Nuna Inc. was founded in 2010 by Jini Kim, previously a product manager with Google Health and a key member of the team that saved the roll-out of Healthcare.gov, and David Chen, previously a Senior Data Scientist at Netflix and a graduate of the biomedical informatics training program at Stanford. The company has raised over $90M in funding from Kleiner Perkins Caufield & Byers and John Doerr, and is headquartered in San Francisco, California. For more information, please visit www.nuna.com.