Evidation raises $45 million Series D

Evidation Health has closed a $45 million Series D financing round, led by B Capital Group alongside new and existing investors. Sam Marwaha, a long-time advisor to Evidation, joins the company as Chief Commercial Officer.

Evidation Health provides a research platform that enables studies to generate insights from behavioural data obtained from sensors, devices and other sources. The company will use the funds to continue development of its platform, and to build new digital health tools using insights generated from it.

Sam Marwaha joins Evidation from Boston Consulting Group (BCG). As Chief Commercial Officer, he will have responsibility for developing partnerships with life sciences companies, and for building the marketing and business development teams.

“Evidation is a learning engine directly connected to four million people, making it possible to understand real-life indicators of health quality and disease progression, reflecting behavioral and social factors,” said Marwaha. “Evidation can drive personalized, consented engagement with individuals in the safety and convenience of their homes, empowering them to be partners in their own health.”

For example, in February, Apple and Johnson & Johnson announced launched The Heartline Study to investigate the early detection of atrial fibrillation – a leading cause of stroke – using the Apple Watch. Evidation provides the technology and study operations that enable the Heartline Study app and study experience for participants.

The company claims eight of the top ten biopharma companies as partners. It is also working with industry, academia, government, and civil society, including the Icahn School of Medicine at Mount Sinai, the Biomedical Advanced Research and Development Authority (BARDA), and the Bill & Melinda Gates Foundation, on efforts to better detect, characterize and predict COVID-19 using ‘person-generated health data’.

Evidation Health was founded in 2012 by Alessio Signorini, Christine Lemke, Luca Foschini, and Mikki Nasch. The company is headquartered in Silicon Valley and has previously raised $61 million, including its last round of $30 million in August 2018. The last three rounds have been led by B Capital, the venture arm of BCG.