Your Source for Venture Capital and Private Equity Financings

Massinvestor/VC News Daily

Orbita Receives $9M Series A Round

2020-05-28
BOSTON, MA, Orbita announced today that it has secured $9 million of venture funding.
Orbita, the leading provider of conversational AI-powered voice and chatbot solutions for healthcare, announced today that it has secured $9M of venture funding as part of the company's Series A financing round. Co-leading the round are Philips Health Technology Ventures, which manages a business-agnostic fund investing in future partners to drive Philips' digital transformation, and HealthX Ventures, a digital healthcare-focused venture capital firm. Cultivation Capital and Newark Venture Partners also participated in the round.

Orbita's award-winning voice and chatbot platform is used by leading healthcare, life sciences, and medical technology companies to improve patient care and clinical efficiency. Orbita's enterprise-grade conversational platform supports AI-powered voice and chatbot applications accessible across web, mobile, SMS, smart speakers (Amazon Alexa and Google Assistant devices), and conventional phone.

"Philips views conversational AI through voice and chatbot as an important future enabler to drive patient experience and clinical efficiency, especially in light of the current COVID-19 pandemic," said Rich Wilmot, Head of Philips Health Technology Ventures Global. "We aim to partner with and invest in promising digital health companies complementary to Philips strategic initiatives and Orbita has established itself as a leading innovator in the industry with products and solutions that are enterprise-ready, pressure tested, and highly relevant to the pressing needs of healthcare providers."

In the past few months, Orbita has responded to an unprecedented number of requests related to COVID-19 from both existing and prospective customers across the globe. In March, Orbita announced a free COVID-19 chatbot designed to automate symptom screening and question-answering using content sourced from the U.S. Centers for Disease Control and Prevention (CDC). The company has since released additional capabilities to target the evolving demands of the pandemic, including automated health monitoring for patients, employees, and other at-risk populations. Through these and its other offerings, the company reports that its technology is now reaching millions of individuals worldwide.

"The Orbita team quickly recognized how to apply their existing technology to deliver highly relevant solutions to the COVID-19 front-line response," said Taha Jangda, Partner at HealthX Ventures. "In addition to their rapid turnaround with the COVID chatbot, they have made tremendous strides expanding into the life sciences market, where they are well-positioned to facilitate patient engagement and marketing in a post-COVID world. We are very pleased to continue supporting their progress."

"Our mission has always been to transform lives through the power of voice and conversational AI," said Bill Rogers, CEO at Orbita. "Thanks to our customers and partners, we've witnessed how virtual healthcare assistants based on our technology have improved both healthcare efficiency and quality. We've experienced this perhaps most significantly in recent weeks supporting the COVID-19 pandemic response. We're very proud of the work we've done and are equally proud to receive the support of our new investors to expand our reach and impact."

About Orbita
Founded in 2015, Boston-headquartered Orbita provides award-winning voice and chat solutions for healthcare and life sciences sectors. Orbita's powerful conversational AI platform enables healthcare organizations to cost-effectively create and manage HIPAA-compliant virtual healthcare assistants for consumer and clinical applications that increase patient engagement, reduce cost of care, and improve outcomes. Some of Orbita customers and partners include AmWell, Cancer Treatment Centers of America, Cognizant, Mass General Brigham, and Mayo Clinic. https://orbita.ai

About Philips Health Technology Ventures
Philips Health Technology Ventures manages a business-agnostic digital health fund investing in, and partnering with, promising healthcare informatics and health technology services start-up companies to accelerate their growth and extend their reach. As a leading health technology company, Philips is focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. The company leverages its global R&D programs, targeted acquisitions and partnerships to develop integrated solutions helping healthcare providers deliver on the Quadruple Aim: better health outcomes, a better experience for patients and staff, and lower cost of care. For more information: https://www.ventures.philips.com.

About HealthX Ventures
HealthX Ventures is a digital healthcare-focused venture capital firm that invests in innovative companies making healthcare safer, more efficient, and more affordable by delivering easy-to-use, cost-effective and scalable solutions to the market. Based within miles of Epic Systems' Madison, WI headquarters and led by seasoned, successful entrepreneurs and investors, HealthX provides unique value to its portfolio companies through extensive operational support, deep industry knowledge, and executive-level networking. https://healthxventures.com

About Cultivation Capital
Cultivation Capital is a venture capital firm supporting extraordinary entrepreneurs. We are a family of venture funds and accelerators investing in technology, life sciences, and agriculture technology companies. These funds have backed over 120 companies since the firm's founding in 2012, making us one of the most active seed investors in the country. Cultivation Capital helps businesses achieve pivotal milestones with the help of our general partners, investors, and other portfolio companies. For more information, visit http://www.cultivationcapital.com

About Newark Venture Partners
Newark Venture Partners is a leading early stage venture capital firm with a Limited Partner base that includes top corporate investors Audible (an Amazon Company), The Dodge Foundation, Dun & Bradstreet, Fidelco Realty Group, Horizon Blue Cross Blue Shield, Panasonic Corporation of North America, Prudential Financial, RWJBarnabas, TD Bank, and the New Jersey Economic Development Authority. Our full-time sales, strategy and development teams help innovative entrepreneurs build distinctive B2B technology companies while catalyzing growth in the City of Newark. Newark Venture Partners includes a direct investment arm, investing up to $2 million in Seed and Series A companies, and our bridge-to-seed accelerator arm, NVP Labs, which invests in up to 10 companies twice a year. For more information visit https://www.newarkventurepartners.com/
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about page.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors