Healthtech startup Holmusk raises $45m to continue rapid expansion

Holmusk, a healthtech startup based in Singapore and the United States, raised $45 million in its Series B funding round.

In a statement, Holmusk said it intends to use the investment to continue the rapid expansion of its flagship offering, NeuroBlu Database, which is a leading source of real-world clinical data for the behavioral health industry.

“This investment will enable our team to continue its work in curating and enhancing data as we plan to build the world’s largest platform for behavioral health data,” said Nawal Roy, Holmusk Founder and Chief Executive Officer.

Roy said they are ‘laser-focused’ on this mission because they know that quality data leads to improved evidence, which also leads to better health outcomes.

Series B was led by Nasdaq-listed healthcare firm Veradigm Inc., formerly known as Allscripts Healthcare Solutions, Inc. It was participated by its current investors including Heritas Capital; Health Catalyst Capital; Novartis (dRx Capital); and Northwell Holdings, the venture investment arm of Northwell Health.

After the competition of series B, Veradigm and Holmusk now plan to enter into a data partnership to bring cohorts of behavioral health and related de-identified patient data from Veradigm to the NeuroBlu Database, significantly adding to Holmusk’s real-world clinical data asset.

Michael Weintraub, Chair of the Holmusk Board, said they feel fortunate to have formed a partnership with Veradigm, a company that shares their vision for the transformative power that data can have in the health care sector.

And he thinks that working collaboratively will help them to deepen their investment in the behavioral health space and make a broader impact.

Rick Poulton, Veradigm Chief Executive Officer, said that mental and behavioral health is a serious global health problem that showed a significant increase during and at the post COVID-19 pandemic level.

Poulton said Holmusk has proven its expertise in creating the evidence needed to improve mental health. And he is just proud to help equip the company with the resources needed to advance this important work.

Holmusk is a behavioral health real-world evidence and data analytics company that is on a mission to harness real-world data to transform both research and care for behavioral health.

By combining the leading behavioral health database with artificial intelligence (AI)-powered analytics and digital solutions designed to address the most pressing challenges in behavioral health, Holmusk is advancing the frontier of evidence generation and at the same time fueling innovation.

Currently, the firm has it main offices in New York and Singapore. It also has three additional offices around the world.

Meanwhile, Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale.

Its network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully.