Germany’s Ada Health Raises $90 Million Series B Led By Bayer

Germany’s Ada Health Raises $90 Million Series B Led By Bayer

May 27, 2021 at 04:33PM

Germany’s digital healthcare startup Ada Health raised $90 million in a series B fundraise led by Leaps by Bayer, the impact investment arm of Bayer. Samsung Catalyst Fund, Vitruvian Partners, Inteligo Bank, F4 and Mutschler Ventures, also participated in the round.

“Investing in breakthrough technologies that drive digital change in healthcare is one of the strategic imperatives for Leaps by Bayer and for the entire field of healthcare,” Dr. Jürgen Eckhardt, Head of Leaps by Bayer, said in a Thursday (May 27) press release.

Eckhardt added that Ada’s technology is powered by artificial intelligence (AI), with a focus on “medical rigor and high levels of clinical accuracy.” The goal is to bring about “better health outcomes” by earlier medical intervention during a patient’s “healthcare journey.”

The fresh infusion of capital will help Ada enhance its technology and help the startup cement its leading position in the U.S. and move toward global growth. The company has its sights set on becoming the world’s leading personalized operating system for health, the release indicated. 

“Today’s investment will help bring us closer to our goal of improving healthcare outcomes for more than 1 billion people around the world,” said Daniel Nathrath, CEO and co-founder of Ada Health. 

He added that the company’s investors “truly believe” in what Ada has to offer and its mission of reinventing the “way people access healthcare.” Leaps by Bayer has values that align with Ada’s, Nathrath said, in that science, technology, medical quality, and users are “at the heart of everything we do.”

In a PYMNTS interview, virtual-care platform Conversa Health CEO Murray Brozinsky said telehealth is not brand new but the pandemic helped speed adoption and acceptance by healthcare providers and consumers.

Telemedicine use won high marks of satisfaction by both patients and physicians, prompting state and federal agencies to support legislation making emergency pandemic policies permanent.