FeelBetter, a machine learning-enabled medication-management platform focused on polypharmacy, announced it secured $5.9 million in funding led by Firstime Ventures and Shoni Health Ventures.
Random Forest VC, The Group Ventures, and existing FeelBetter investor Triventures also participated in the round.
The latest round brings the company’s total raise to $8 million.
WHAT IT DOES
FeelBetter focuses on the polypharmacy paradigm, the simultaneous use of multiple drugs by one patient for one or more conditions. The company’s AI-enabled platform analyzes data on a patient’s health status and medical history, pharmacology and clinical guidelines to examine the connections between the different sources to improve a patient’s medication regimen.
The company will use the funds to expand its reach and advance its platform.
“At a time when investors are especially selective about the types of bets they are taking, this round and vote of confidence from the world-class teams at Firstime Ventures, Shoni Health Ventures, Random Forest VC, Triventures, and The Venture Group, as well as angel investors, validates the need for and potential of our pharmaco-clinical intelligence as a solution for the growing, global health challenge posed by suboptimal medication management,” Liat Primor, FeelBetter’s CEO and cofounder said in a statement.
MARKET SNAPSHOT
Polypharmacy has been shown to affect one’s health-related quality of life negatively, is often seen in older adults and results in a large number of hospital admissions.
Other companies in the medication management space include Arine, which offers data analytics tools for medication management, and retail giant Walmart, which purchased digital medication management company CareZone‘s tech platform, patents and intellectual property in 2020.
