Today, Ada Health, the Berlin-based digital health company, has closed its Series B funding round at over €105 million, following an additional injection of €26 million. The new funding came from international investors Farallon Capital, Red River West and Bertelsmann Investments. Ada also announces that Schroders Capital has become a major investor through a secondary transaction from public and private vehicles.
Launched globally in 2016, Ada is founded by a team of doctors, scientists and industry pioneers to create new possibilities for personal health, and transform knowledge into better outcomes. Its core system connects medical knowledge with intelligent technology to help all people actively manage their health and medical professionals to deliver effective care.
Daniel Nathrath, CEO and co-founder of Ada Health, said: “As a company, our goal is to improve healthcare outcomes for more than 1 billion people around the world.”
Indeed, the medical sector has been under immense pressure since before the pandemic, which has only worsened the situation. Technology is increasingly seen as the best solution to help the industry recover, doctors to gain a better work-life balance, and patients to receive better care and outcomes.
Daniel Nathrath continued: “Covid-19 has highlighted the need for greater, faster change within healthcare and we are seeing a growing demand from health systems, insurers and life sciences organizations for innovative ways to help transform health journeys and drive better outcomes for patients, clinicians and providers.”
Ada’s health assessment platform combines medical knowledge with AI, to help users understand their symptoms and navigate safely to the right care at the right time. Ada’s consumer app has become the world’s most popular and highest-rated symptom assessment app, completing over 26 million assessments since its global launch amongst its 11 million users across the globe. The company that came on our radar back in 2017 is certainly growing at an exciting pace.
Ada also provides enterprise solutions to a wide range of partners across health systems, insurers, and life sciences. By integrating its symptom assessment and care navigation tools into a range of digital care journeys, Ada can improve outcomes for patients, consumers and healthcare providers.
Today’s funding will be used to accelerate the rapid growth of the Berlin-based business and strengthen its presence in the United States, following a period of strong growth in North America where Ada has forged collaborations with leading health systems and care providers, while continuing existing client partnerships internationally with the likes of Bayer, Novartis, and Sutter Health.
Ada also plans to build on its sophisticated AI capabilities by developing a personalized operating system for health, connecting multiple external data sources to provide users with actionable insights and a holistic, 360-degree view of their personal health journey.
Torsten Schero, Chief Financial Officer at Ada Health, said: “We are thrilled to have these high-profile investors joining Ada as we accelerate our rapid international growth. These later stage growth investors will play a key role as we take the next step in Ada’s ambitious growth journey, and we couldn’t be happier to have them on board to continue Ada’s success story together.”
