Navina, the health technology company that uses data to transform every interaction between doctor and patient, today announced a $22 million Series B funding round, doubling its total investment to $44 million. The financing was led by the ALIVE Israel HealthTech Fund with participation from existing investors: Grove Ventures, Vertex Ventures Israel and Schusterman Family Investments. The company has attracted thousands of new users to the primary care market in 2022 through relationships with sophisticated value-based care and physician groups in multiple states across the United States. This rapid adoption resulted in a 10x increase in Navina’s sales over the past six months.
Navina uses medically informed AI to understand the exponentially growing amounts of data that GPs are overwhelmed with. The platform is uniquely able to provide physicians with just the right information at the right time, giving them both a deep, at-a-glance understanding of their patients and actionable insights at the point of care. It distills entire patient stories from multiple sources and transforms thousands of data points into a concise patient portrait to ensure critical decision data is not overlooked. This creates a powerful cascade of benefits, solving the interconnected problems of data overload and dangerous physician burnout that lead to clinical failure and suboptimal care.
The platform is powered by the company’s proprietary AI capable of understanding primary care jargon. His nuanced understanding of clinical workflows enables Navina to take the data burden off physicians so they can better care for their patients, impacting millions of lives. Over the past year, the Navina platform expanded its footprint to include not only physicians but also their support staff, aligning the workflows of all stakeholders towards their common goal of effectively serving their patient populations and improving value-based care.
The effectiveness of Navina in the real world was validated by a recent report released by the American Academy of Family Physicians’ Innovation Lab, which found that the platform increases diagnostic accuracy and reduces pre-visit preparation time by a significant 61 percent.
“Navina’s growth has been remarkable; they have achieved penetration among advanced primary care groups in the United States at a pace we have rarely seen and our goal is to continue to support the company’s accelerated growth,” said the ALIVE’s managing general partner, Professor Ari Shamiss, who will join Navina’s board of directors. “They clearly address a gaping, unmet fourfold need: to meet the goals of improving population health, patient experience, well-being and clinician productivity – all while improving economics. This is confirmed every day.”
“We welcome ALIVE to our family of investors and appreciate the continued support of our original group of investors,” said Ronen Lavi, co-founder and CEO of Navina. “Our mission from the beginning has been to give physicians the time and confidence they need to stay ahead of their patients’ health and transform the physician-patient interaction, moving it from reactive to proactive change. As Israel’s leading HealthTech fund, headed by former directors of the country’s largest hospitals and medical centers and savvy investors, ALIVE is the ideal partner for this journey.”
Shay Perera, co-founder and CTO, added, “Our investors recognize that AI can enable primary care physicians to practice medicine the way they choose, while empowering physician groups and healthcare systems to achieve the economics it needs.” enabling them to meet their responsibilities to the community.”
