- General
- September 3, 2020
- 3 minutes read
Biofourmis Raises $100 Million
Kuldeep Singh Rajput, co-founder and CEO of Biofourmis. Photo credit: Biofourmis Biofourmis, a Boston-based digital therapeutics startup, has secured $100 million…
Kuldeep Singh Rajput, co-founder and CEO of Biofourmis.
Photo credit: Biofourmis
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Biofourmis, a Boston-based digital therapeutics startup, has secured $100 million in Series C funding led by SoftBank Vision Fund 2, with participation from investors including Sequoia Capital, MassMutual Ventures, Openspace Ventures, and EDBI. With the new funding, Biofourmis has now raised a total of about $144 million in funding since its inception. Before now, Biofourmis’ most recent financing round was a $35 million Series B closed in May of last year. The company says it’ll use the new funding to develop and commercialize more digital therapeutics solutions across the U.S. and select Asian markets.
Biofourmis develops software solutions to help treat disease and monitor patients with a range of medical conditions, including the coronavirus. The company makes money by charging medical providers on a per patient basis. Currently, Biofourmis has partnered with seven pharmaceutical companies and 10 health systems to offer its sensory and analytics solutions. Biofourmis was originally founded in Singapore but later relocated to the U.S. city of Boston, a region that’s known to house many pharmaceutical and biotech companies.
Biofourmis plans to expand its software solutions across key health sectors such as cardiology, respiratory, oncology and pain. The company, although focused on markets in the United States, is also eyeing in business in Asian countries such as China and Japan.