Helsinki-based health technology startup NetMedi raises $940k to expand across Europe

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NetMedi, developer of the Kaiku® Health platform, announced the closing of a $940k seed investment round. The financing round has been led by Jaakko Ollila from Metsola Ventures, private investor and founder of Med Group Kustaa Piha, Harri Tilev from T&T Nordcap along with significant participation from prior lead investor Reaktor Ventures.

The fresh capital enables NetMedi to make their web-based patient-reported outcome software Kaiku® Health available for cancer clinics across Europe.

NetMedi was founded in 2012 by five software developers deeply passionate about health care technology. Together with experts in comprehensive cancer care, the founding team began to develop a software for collecting and analyzing patient-reported outcomes of cancer care. Today Kaiku® Health is one of the leading digital solutions for data driven and personalized cancer care.

Kustaa Piha, Doctor and Founder of Med Group, describes his participation: “NetMedi already has 17 cutting-edge clinics as their clients in Finland, Sweden and Switzerland. The team has a profound understanding of the field. Kaiku® Health has been designed to enhance the daily clinical routines. The solution provides personalized care for the patients and the clinics are better able to improve their performance.”

Lauri Sippola, CEO and Founder of NetMedi stated: “We aim to have the best cancer care professionals around the world using and developing Kaiku® Health with us. Last year we were able to increase our revenue by 70 percent organically and with the recent funding we are prepared to accelerate up our expansion in Europe this year.”

Kaiku® Health aims to be the patient’s individual guide through cancer treatment and recovery, and a real-time dashboard that allows the nurses and doctors to improve outcome-driven care by providing up-to-date patient data. The platform enables secure communication online between patients and the care team.

Kaiku® Health has been developed in close co-operation with patients, cancer researchers, clinics, doctors and nurses. The software supports several treatment options of nine common cancer types: breast, prostate, melanoma, liver, bile duct, pancreas, colorectal, lymphomas as well as head and neck.

Lauri Sippola concludes: “Cancer cases are expected to rise from 14 million in 2012 to 22 million within the next two decades. It is only getting likelier that cancer will affect us at some point in our lives, either directly or through our relatives. We are determined to develop the leading digital solution that supports the individual treatment of each patient and enables consistent follow-up on outcomes.”