Huma Secures $80 Million to Revolutionize Digital Healthcare with AI-Powered Platform

Huma completes Series D funding round with over $80m and launches cloud platform

Huma has concluded this round to further develop its FDA Class II and EU MDR Class IIb platform available to everyone in the world. × Expand Huma Therapeutics Limited Global healthcare AI company Huma Therapeutics Limited has announced the completion of its Series D funding round to cut down the time taken to build and launch a scalable digital health product that meets regulatory demands, as it also launches its Huma Cloud Platform. The platform offers no code configuration of regulated disease management tools for any therapeutic area, a library of pre-built modules and device connectivity capabilities, a cloud-agnostic framework for flexible hosting, readily available APIs and integration capabilities, the ability to host and deploy diagnostic and predictive AI algorithms, a marketplace, and more to advance digital-first care and research. The Series D funding round, alongside investments from leading industry partners since its Series C round, created a total issuance of shares by Huma of over 80 million USD. With this round, Huma has now raised over 300 million USD in total. The Series D saw the participation of new and existing strategic and financial investors, including AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, Leaps by Bayer and others. HSBC Bank plc acted as advisor to Huma during the fundraise. Alongside its Series D, Huma is also announcing the launch of its Huma Cloud Platform - a technology ecosystem designed not only to support the company's own digital health initiatives, but also to empower others to launch and scale their projects efficiently. With its Huma Cloud Platform and the regulatory foundation that it is built on, Huma aims to reduce the time it takes to develop and launch digital health projects at scale from years to as little as a few days. The Huma Cloud Platform is built to serve the company's existing regulated products. In 2023, Huma achieved the landmark milestone of becoming the first and only configurable, disease-agnostic FDA Class II, EuMDR Class IIb, and Saudi FDA Class C platform, enabling rapid, code-free configuration with the ability to host AI/ML models. This regulatory status significantly reduces the cost, time, and risks associated with bringing digital health projects to life through the Huma Cloud Platform. Huma is now making this platform available to customers which comes with a Software Development Kit (SDK) to enable the accelerated development of similar applications or to embed functionalities into their existing solutions. "We have known Huma for several years and we've been impressed by their remarkable progress. We have seen this first-hand. They have demonstrated strong growth and excellent metrics. With their next-generation AI capabilities and Huma Cloud platform, Huma can partner with pharma companies to deliver efficient digital health solutions to patients focused on predictive and proactive care," said Dr Juergen Eckhardt, EVP, Head of Leaps by Bayer and Pharmaceuticals Business, Development & Licensing. "Pharmaceutical companies need financially and technically efficient digital solutions to minimise spending on efforts that are duplicative or can't scale. The Huma Cloud Platform enables companies to streamline how they bring digital medicine, companion apps, and data collection capabilities to patients from the R&D phase to post-launch." To date, Huma's technology has powered projects in over 3,000 hospitals and clinics. The platform has been used to engage and screen over 35 million individuals, with 1.8 million active users across its products in over 70 countries. Huma's U.S. business has grown significantly since launch with new reimbursement codes. The RPM product, built on top of the Huma Cloud Platform for respiratory use cases, now covers 140,000 contracted lives. As a result of all these successes, the company has doubled its revenue year-on-year, and is targeting to become profitable this year. Huma also collaborates with over half of the top 20 pharmaceutical companies globally and has been involved in major national healthcare projects worldwide. Huma has partnered with Google and others to develop new AI models that could enable its Cloud Platform users to care for many times more patients with less work; for example a feature called "10x Nurse" that significantly reduces administrative tasks and brings automation to the patient review process with a human in the loop. This opens new possibilities, such as efficiently managing chronic diseases with fewer staff or using real-time monitoring systems to ensure patients are on the correct treatment pathways while keeping humans still in the loop. Looking ahead, combining the Huma Cloud Platform with next-generation AI models will enable Huma to have a bigger impact through its digital-first care and research initiatives, as well as supporting small startups and enterprises in launching the digital solutions they need. The company says it promises to do this much faster and cheaper, shifting the focus to project or venture success rather than getting distracted with scaling technology or managing regulatory burdens. Dan Vahdat, Founder and CEO of Huma, said, "I am thankful for the support of our new and existing shareholders, helping our vision become a reality, which we are closer to than ever before. We are here to accelerate the adoption of digital and AI across care and research, and we do that by making the building of digital health solutions for care and research easy. We like to think of Huma Cloud Platform much like Shopify but for digital health instead of e-commerce. We believe when digital and AI are scaled, they become affordable for both the poor and the rich. They remain consistent and will help us transition medicine from being reactive to proactive."

Huma Raises $80 Million As It Opens Up Its Digital Healthcare Platform

Digital healthcare company Huma will today announce it has raised $80 million of Series D funding, taking the total amount of investment raised by the company to more than $300 million. London-headquartered Huma, founded in 2011, is also unveiling a new platform service that will, for the first time, enable other businesses to develop digital healthcare applications using its technology. Huma, first featured by Forbes four years ago when it teamed up with the National Health Service to support Covid-19 patients, has spent more than a decade developing apps for hospitals, clinics and other healthcare providers and pharmaceutical industry partners. These apps enable healthcare professionals to generate crucial insight from the data generated by their work with patients and individuals taking part in trials. So far, Huma's technology has supported projects in more than 3,000 hospitals and clinics, leveraging data from more than 35 million individuals in more than 70 countries worldwide. "Our vision from the start has been to accelerate the development of digital healthcare services that are accessible for everyone," explains Dan Vahdat, founder and CEO of the business. Until now, Huma has focused on developing its own apps, working with clinicians to deliver the solutions they need. However, last year the Food and Drug Administration, the US regulator, agreed to certify its cloud-based platform, with watchdogs in the European Union and the Middle East also providing authorisation. In effect, those clearances mean any app developed on the platform automatically has regulatory clearance for deployment. "At that point, we realised that we could open up our platform to third parties looking to develop their own apps," Vahdat explains. "We solve all of the regulatory hurdles that developers usually face, freeing up their time and energy to develop and scale their apps." Vahdat says the "Huma Cloud Platform" will reduce the time that it takes to develop and launch digital health projects at scale from years to as little as a few days. "We are effectively offering a Shopify for the digital health sector," he adds. Opening up its platform in this way represents something of a pivot for the company. While the business will continue to work on its own apps, Vahdat believes revenues generated from third parties using the platform could significantly outstrip what it can earn from in-house projects. "We'll also be having a much bigger impact on people's health than we could ever hope to achieve by working in isolation," he says. That said, Huma's business was already growing quickly in the period running up to this announcement, with revenues doubling year-on-year. Vahdat expects Huma to break into profitability before the end of the year. Still, the Huma Cloud Platform could represent a step-change for the business. It incorporates low-code and no-code technologies, as well as artificial intelligence tools, that enable developers to automate significant amounts of the work required to build new apps. The company has also partnered with collaborators including Google to develop new AI models that enable users to support many more patients at the same time. "We're incredibly excited about the marketplace concept," Vahdat adds. "Very quickly, we want to get to a position where 50 to 100 apps have been developed on the platform, all of which will improve healthcare and patient outcomes." Investors in the business are also enthused by the potential of the new platform. Huma's Series D round is supported by both new and existing investors, including AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures and Leaps by Bayer. Dr Juergen Eckhardt, Head of Leaps by Bayer, one of those investors, says a wide range of parties will be able to use the Huma Cloud Platform. "Pharmaceutical companies need financially and technically efficient digital solutions to minimise spending on efforts that are duplicative or can't scale," he says. "The platform enables companies to streamline how they bring digital medicine, companion apps, and data collection capabilities to patients from the R&D phase to post-launch."

Huma raises $80M to turn text into healthcare apps with gen AI

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More The power of AI is touching all sectors, including the highly regulated space of healthcare. Today, London-based Huma, a health-tech company focusing on advancing digital-first care delivery and research, announced the launch of an AI-powered cloud platform that provides startups with the ability to prototype, launch and scale regulated digital health apps, including those powered with AI smarts, targeting different use cases. Enterprises using the new Huma Cloud Platform get a variety of tools, but the biggest highlight is a generative AI-powered builder experience that can turn text prompts into ready-to-use applications within minutes. Huma says the offering is already being used by a handful of startups and large pharmaceutical companies. The company also announced it has closed $80 million in series D funding to further expand the reach of the platform and add more capabilities to it. "We are here to accelerate the adoption of digital and AI across care and research, and we do that by making the building of digital health solutions for care and research easy. We like to think of Huma Cloud Platform like Shopify but for digital health instead of e-commerce. We believe when digital and AI are scaled, they become affordable for both the poor and the rich. They remain consistent and will help us transition medicine from being reactive to proactive," Dan Vahdat, founder and CEO of Huma, said in a statement. Configurable platform healthcare systems Founded in 2011 under the name Medopad, Huma has evolved into a company focused on providing healthcare organizations and pharma companies with digital-first solutions to accelerate care delivery and medical research. Over the past decade, the company developed a modular, configurable platform that enabled it to develop various healthcare apps, including those for remote patient monitoring, therapy/treatment and decentralized clinical trials. Vahdat told VentureBeat that using the same core technology for building customer apps not only saved the company from the hassle of building point solutions requiring significant investments (in terms of time and cost) but also eliminated hard-to-navigate, years-long regulatory hurdles. The configurable platform has been cleared by global regulators, including the FDA, which means any app built on top is cleared for use in medical settings. However, not every healthcare company or startup is willing to hire a dedicated partner for app development. Some want to do it on their own. This is what Huma is trying to address with the new Cloud Platform, which can bring an app to the market in as little as a few days. Built on the same regulated and configurable technology, Huma Cloud allows organizations to build and launch custom digital health apps using an expansive suite of widgets, modules, templates and disease management tools that can be combined using simple drag-and-drop functionality. The users just have to use these elements with device connectivity capabilities and readily available APIs to bring their projects to life. More importantly, if the drag-and-drop does not work, there's also a generative AI-powered builder experience on the platform that puts all the above-mentioned elements into motion using a text prompt for the user. For instance, if one needs to create an app for asthma monitoring, they'll just have to give this prompt and the platform's underlying algorithms will intelligently put all the required modules and elements together, getting the user started. From there, the user can open the editor to further customize the app elements and functionalities and move towards deployment. Vahdat did not share which models power this experience but noted that the company has worked with partners like Google to develop a library of models over the years. Users building apps on Huma Cloud can even use this library of models, including those from third parties, to power different care experiences for their end customers. "We also use generative AI to support clinical teams in efficiently and effectively reviewing patient data. For example, we developed a feature called '10x Nurse', which enables care teams to effectively monitor more patients in less time. The 10x Nurse feature uses GenAI to generate automated summaries of a patient's health status and build tailored messages to the patient, both of which need to be reviewed by a clinician in detail before being used," he said. Availability to select customers Since its launch, Huma's modular platform has powered projects for more than 3,000 hospitals and clinics as well as most of the top 20 pharma companies, engaging over 35 million individuals, with 1.8 million active in over 70 countries. With the launch of the new cloud platform allowing organizations to build apps themselves, the company hopes to scale these figures even further. "One of the key customer segments for the Huma Cloud Platform, aside from the large healthcare and life sciences companies we already serve, are digital health/digitally enabled healthcare startups. We want to support a new generation of entrepreneurs in the digital health space by providing them with the tools in the Huma Cloud Platform and enabling them to prototype, launch, and scale regulated digital health apps to support their companies' own objectives," Vahdat noted. As of now, Huma Cloud is accessible only to a handful of startups and pharma companies, paying either via a subscription-based annual license or a consumption-based pricing mode. However, the CEO says it plans to expand beta access in the coming months by reviewing applications from waitlisted customers. "Right now we are trialling with selected customers. Huma onboards these customers by training them on the Huma Cloud Platform, after which enterprise users are given administrative/ builder access. Due to the code-free configurability, users are not required to have a tech background. They can develop their solutions through rapid prototyping and testing using QR codes to bring up a live demo version in seconds. Once the final product is aligned, a simple pathway enables enterprise Huma Cloud Platform users to onboard patients and clinicians to the app," he added. Part of the funding raised today will go towards the expansion of Huma Cloud, while the other half will go towards adding more capabilities to the platform. This, Vahdat says, will be driven through acquisitions and investments in the digital health space. Overall, the round takes the total capital raised by Huma to over $300 million. While other solutions, including the recently launched AWS App Studio, also use generative AI to simplify application development, Huma is particularly bullish on its offering as it's built with a specific focus on healthcare with approvals from global regulators. It will be interesting to see how companies in the healthcare domain will adopt its technology. There have long been concerns around the adoption of AI in healthcare and the startup is vying to address just that.

Huma Gets $80 Million to Build 'Shopify for Digital Health'

The platform, announced Tuesday (July 16), is designed to bolster the company's digital health initiatives while also letting others launch and scale their own products. "With its Huma Cloud Platform and the regulatory foundation that it is built on, Huma aims to reduce the time it takes to develop and launch digital health projects at scale from years to as little as a few days," the company said in a news release. The Series D round brings Huma's total financing to $300 million. A report by Bloomberg News noted that the company is now valued at close to $1 billion. Dan Vahdat, the company's founder and CEO, said in the news release that Huma hopes to speed the adoption of artificial intelligence (AI) across care and research. "We like to think of Huma Cloud Platform much like Shopify but for digital health instead of eCommerce," he said. "We believe when digital and AI are scaled, they become affordable for both the poor and the rich. This will help us transition medicine from being reactive to proactive." Huma's funding comes as the healthcare world continues to debate AI's place in their field, as PYMNTS wrote earlier this year. For example, experts say that health chatbots could have a major impact on the sector, but their varying levels of accuracy raise important questions about their potential to bolster or undermine patient care. "Like other AI-powered tools, medical chatbots are more likely to provide highly accurate answers when thoroughly trained on high-quality, diverse data sets and when user prompts are clear and simple," Julie McGuire, managing director of the BDO Center for Healthcare Excellence & Innovation, told PYMNTS. "However, when questions are more complicated or unusual, a medical chatbot may provide insufficient or incorrect answers. In some cases, a generative AI-powered medical chatbot could make up a study to justify a medical answer it wants to give." In a separate interview, Dr. Michael Gao, co-founder and CEO of SmarterDx, told PYMNTS that clinical AI could help hospitals improve revenue integrity and quality. By using AI, he said, hospitals can "make sure that their receipts are accurate, that they have everything they should have and they don't have anything they shouldn't have." He added that AI solutions are able to take the data around clinical care and compare it to financial data to make sure that hospitals "achieve 100% accuracy on 100% of charts."

UK scaleup Huma launches 'Shopify-like' platform for digital health tools

UK-based Huma has launched today the Huma Cloud Platform, a "Shopify-like" tool for the healthcare ecosystem to design, build, and launch digital health services. "The digitalization of the healthcare ecosystem is a transformative force that is reshaping how we deliver and experience healthcare and how we conduct research," Dan Vahdat, founder and CEO of Huma, told TNW. Founded in 2011, Huma has been working with national healthcare providers and big pharma. Its technology powers digital clinical trials, remote patient monitoring (RPM), and companion apps for patient support. Now, with the Huma Cloud Platform, the scaleup is bringing its technology to external customers. Platform users will have access to a wide range of solutions, ranging from pre-built-modules, APIs, and GenAI capabilities to diagnostic and predictive AI algorithms, a marketplace, and no-code configuration of regulated disease management tools. The platform will also support Huma's existing regulated products. This includes the company's Software as a Medical Device (SaMD) platform, which powers its RPM system and companion apps. Approved by regulators in the US, UK, EU, and Saudi Arabia, it's the only device- and disease-agnostic tool of its kind to receive this status in combination with AI capabilities. Huma says that this regulatory foundation can enable users of the Cloud Platform to reduce the time it takes to launch digital health projects at scale from years to days. According to Huma, its technology has been used by more than 3,000 hospitals and clinics to date. The startup counts 1.8 millions active users across its products in over 70 countries. In 2023, it also partnered up with Google to explore GenAI capabilities. Having doubled its revenue between 2022 and 2023, Huma aims to become profitable this year. Alongside the launch, the London startup is also announcing a $80mn Series D round, which brings its total funding to over $300mn. Both existing and new investors backed the round, including AstraZeneca, Bayer, and Hitachi Ventures.

Huma, a London-based healthcare startup, just raised $80 million to offer new AI services using this 11-slide pitch deck

This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. The company is scaling its AI offering and launching a new cloud platform to provide further services to its clients, which include pharmaceutical companies such as Bayer and the UK's health service, the NHS. "AI is core to how we build scalable digital health solutions," Huma CEO Dan Vahdat, told Business Insider. "We use AI algorithms to build predictive and diagnostic capabilities into our platform so that we can synthesize insights for patients and clinicians from all of the patient data that our platform collects. "We also use GenAI to support clinical teams in efficiently and effectively reviewing patient data." Huma has brought in new funding amid a difficult market for healthtech companies. The company laid off 10% of its staff in August 2023, alongside Swedish healthcare company Kry, as part of a cost-saving initiative, Sifted reported. "It is a challenging environment for digital health companies in general, particularly with the public markets being down," Vahdat added. The company's $80 million Series D funding round was raised by new and existing investors such as AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, and Leaps by Bayer. Funding will go toward expanding the businesses Huma Cloud Platform alongside strategic acquisitions as it looks to grow its offering in the US and support its AI investments. Huma has previously acquired iPlato, a patient engagement platform, and German digital clinical trials startup, Alcedis.