Health Data Liquidity Revolutionizes Life-Insurance
Moneta Capital announced today the closing of its investment in Human API, a US based startup, on a mission to enable health-data-Liquidity by building a real-time health data network that connects, normalizes, and structures data from 90% of the US’ healthcare providers (Hospitals, pharmacies, labs, wearable devices and fitness apps). The company monetizes its platform by allowing consumers to easily connect, store and share their health data records with companies and applications that they trust. An example for such companies are life insurers.
In the past few years, the healthcare industry has made a big progress in digitization, but the challenge of data liquidity remained unsolved, mainly because EHR data is stored in silos and suffers from high regulatory burdens which makes the integration costly and complicated.
Human API was founded 6 years ago by a strong team of data science experts who were seeded by BlueRun Ventures. About 5 years later, Human API’s platform is already connected to almost every health data source across the USA (28,00 sources, covering over 260 million people in the US) and is offering users to create an account on the platform and store all their medical data records in one place. In addition to the B2C play described before, Human API has a strong B2B offering with a current focus on Life Insurers who are using Human API to cut on the massive time and cost needed for gathering health data as part of underwriting new policies and when processing health-related claims.
With the extensive network of health data created by Human API, it is positioned to play the role of both “Dropbox” and ”Plaid” in the health data arena and become the “health data network of America”.
As part of the investment, Meirav Har Noy from Moneta has joined the Board as an observer.
About Moneta VC
Moneta Venture Capital is managing 2 parallel funds: an early stage fund – Moneta Seeds, and a revenue stage fund – Moneta Capital. Moneta focuses on AI, Fintech and Insuretech and it’s portfolio companies are integrated in the world’s largest Banks, Financial institutions and Insurance firms. Moneta’s main added value consists of its Strategic Partnerships with world leading Banks and Insurance firms who are co-investing with Moneta and support its portfolio as design partners and clients.
SOURCE – Moneta