Lifebit scores $60M for genomics data startup and other digital health fundings

London-based genomic data startup Lifebit announced it had raised $60 million in a Series B funding round.

Tiger Global Management led the round with participation from existing investors Eurazeo, Pentech Ventures and Beacon Capital.

The company said it will use the capital to expand worldwide and speed up the growth of its employee base. 

“We believe all biomedical data that can be used to save lives should be used. People are dying because of how this data is being handled, and making distributed highly-sensitive biomedical data usable while keeping it secure in-place and combining it with other data has never been possible. Until now,” CEO Dr. Maria Chatzou Dunford said in a statement.

“It’s great to see how excited our investors are to support our mission and our first-of-its-kind transformative technology. With this new strategic backing, we will continue to expand our global presence, with a specific focus on customer success and accelerating the growth of our team.”

TailorMed, maker of a platform for healthcare providers to manage their finances, check health plans and estimate out-of-pocket costs for uninsured patients, announced it had extended a funding round, bringing its raise to $25 million.

Investors include the American Cancer Society’s impact investment fund, BrightEdge, OSF Ventures, Citi Impact Fund and Sanara Capital.

The company said it will use the influx of cash to expand its reach within the healthcare industry. TailorMed currently works with physician practices, specialty clinics and health systems, and has been increasing its use in pharmacies this year.

“At OSF, we’ve embraced innovation to tackle some of the biggest challenges in healthcare, including access and affordability, regardless of the patient’s medical condition,” Mayank Taneja, OSF Ventures’ director of Venture Investments, said in a statement.

“As the cost of care for multiple chronic conditions continues to rise, TailorMed’s comprehensive platform will enable healthcare organizations to reach, fund and provide care for more patients who otherwise would not have been able to afford it and helps navigators be more proactive in reaching patients at the start of their treatment planning with their care team.”

London-based Heydoc, a clinical workflow tool and EHR, has closed an $8.3 million Series A financing round.

The round was led by Smedvig Capital with participation from existing investors Hambro Perks, Triple Point Ventures and InHealth Ventures.

The new funds will go towards expansion in the U.K. and internationally, as well as hire new team members. Heydoc said the cash brings the company’s total raise to $12 million.

“We’re very excited to have Smedvig Capital as a partner in this new chapter of our adventure. This new raise will help us accelerate our growth in the U.K., focus on our product and expand its capabilities, as well as go after international markets.

“Innovating and contributing to a transforming healthcare industry, profoundly impacted by regulatory changes, new patient expectations and a global pandemic, [are] both fascinating and rewarding. There is so much to be done in this industry, and Heydoc is barely scratching the surface,” cofounder and CEO Christoph Lippuner said in a statement.

Frame Fitness, maker of a connected Pilates reformer that will be available for presale next month, raised $5 million in a seed funding round.

Leading investors in the seed round include 24 Hour Fitness founder Mark Mastrov, Crunch Fitness Worldwide CEO Jim Rowley, Core Health and Fitness CEO Michael Bruno and Action Gaming founder Ernie Moody.

“Frame is the evolution of Pilates, breaking away from outdated reformers that are designed for commercial use with the need to have an instructor present,” Frame cofounder Melissa Bentivoglio said in a statement. “We’re thrilled to offer this one-of-kind, at-home workout experience for consumers of all ages, body types and fitness levels.”

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