Somatus, specializing in kidney care and dialysis delivery solutions, announced a Series C funding round of $64 million to support its nationwide expansion.
Subscribe to the Crunchbase Daily
The new funding was led by Longitude Capital and co-led by Optum Ventures and Deerfield Management Co., and included participation from existing investors Blue Venture Fund, Flare Capital and Town Hall Ventures, the company said in a written release.
This brings the McLean, Virginia-based company’s total capital raised to more than $105 million since its launch in 2016, the company said. Somatus last raised money in 2018, an $11 million Series B led by Flare, according to Crunchbase data.
“Many of the 37 million Americans living with chronic kidney disease are unaware they have it or do not have the resources or support to help manage it,” Dr. Julian Harris, partner at Deerfield, said in a written statement. “Somatus has led industry efforts to overcome this challenge and delivered a model that not only offers this population a path to better kidney health, but also hope that they can live the life they want.”
The company is founded by Dr. Ikenna Okezie, who previously led the mid-Atlantic operations for DaVita Healthcare Partners. Somatus’ proprietary model, RenalIQ, uses actionable intelligence to provide personalized care plans aimed at achieving better kidney health. This includes predicting undiagnosed disease and the likelihood of an unplanned dialysis, coordinating care team efforts, and connecting kidney care stakeholders.
Somatus intends to use the funding over the next year to expand its nationwide footprint, add to its existing 300-person team, and invest in technology and product development to better support patients and health plan partners, the company said.
Since forming four years ago, the company said it has provided care to more than 20,000 chronic kidney disease and end-stage kidney disease patients across six states.
Next up for Somatus: The company will release its patient-facing mobile application designed to help patients monitor their kidney health goals, connect virtually with care team members, watch on-demand micro-learning modules, and track their transplant journey.
Illustration: Dom Guzman