Google's investment company once more takes a bet on health care
Google has long said that it is interested in helping everyone live longer and has invested heavily in various technology and research companies. This time around, Google Ventures is leading an investment series into Flatiron Health, a startup that handles data to help cancer patients and doctors.The Series B funding rose up to $130 million (€94 million), but Google Ventures wasn’t alone in helping move things along. In fact, First Round Capital, Laboratory Corporation of America and several angel investors were part of the effort too.
Flatiron Health organizes real-time oncology data and uses the resulting database to help cancer patients and doctors. Part of the money will be used to acquire Altos Solutions, an electronic medical records company that should complement Flatiron’s efforts.
“Cancer will likely touch all of us at some point in our lifetimes, either as a patient or as the family or friend of a patient. Flatiron has pioneered a way to learn much more about cancer, so that we can improve the way we care for patients and treat the disease. It’s rare to find a team of the caliber assembled by Flatiron Health that combines pragmatic insights from the healthcare industry with the deep technical insight of the IT industry. They are working on one of the biggest problems in healthcare, and their progress has been nothing short of stunning to date,” Google Ventures’ Krishna Yeshwant told TechCrunch.
Google Ventures has also invested in DNAnexus, a company that builds a searchable archive of DNA information, as well as Foundation Medicine, which uses big data to analyze tumors, to name just a few.