The round was led by OmniHealth, with additional investment from Takeda Digital Ventures and Anne Wojcicki, the founder and chief executive of 23andMe. The financing builds on a previous investment from Takeda Pharmaceuticals and $4 million in seed funding.
CEO and co-founder of Seqster, Ardy Arianpour said the firm will use the funding to grow its team as well as evolve its technology to meet the demand for its multi-dimensional healthcare data platform.
“Since inception, our mission is to take that siloed data and put the person at the center of health care,” said Arianpour. “Seqster was built on the foundation that real-time access to a patient’s complete medical history can solve major pain points across the healthcare continuum, impacting lives at scale.”
“This new investment will enable us to expand further into healthcare,” he said.
Founded in 2016 by Arianpour, Dr. Xiang Li, and Dana Hosseini. Seqster aims to address healthcare’s fundamental problem of data silos and fragmented health data.
Seqster pulls in information from patients’ electronic health records, genomic data and wearable data across different health systems.
The Seqster platform connects users to any source of health data nationwide including over 4000 hospitals and health systems and 150,000 doctor offices and medical clinics nationwide.
A differentiator for the company is its focus on multigenerational health, said Arianpour, adding that families can aggregate data and make better care decisions due to increased knowledge about potential risk factors and other health information.
Notable healthcare organizations using its services include San Diego Blood Bank, La Jolla Institute for Immunology, and Boston University. Leading bio-pharmaceutical companies have also been using the Seqster platform for remote clinical trials around the world, said Arianpour.
It has partnerships with more than 10 pharmaceutical companies. Its clients include clinical trials company Medable and Takeda Pharmaceuticals. Seqster charges on a per-member-per-month basis. Annual revenues not disclosed.
Helping Pharmaceutical Companies
Tim O’Donnell, managing partner of OmniHealth Holdings, said Seqster has provided significant value in the pharmaceutical world by making it easier to recruit and track clinical trial participants.
“Seqster is solving one of healthcare’s biggest challenges — siloed data, and they have done so with a solution that is comprehensive, easy to deploy, and scalable,” said O’Donnell. “The company is making significant inroads in the healthcare space, where access to complete longitudinal patient data will lower costs and improve patient outcomes.”
Last year, Seqster expanded its partnership with Takeda to use its platform for clinical trials and patient engagement. Seqster provides Takeda access to the company’s decision support system and research platform.
The goal is to reduce the time it takes to consent patients and bring in data during clinical trials, and improve patient engagement.
Formerly, Arianpour launched several clinical and consumer-based genetic tests and served as the CCO of Pathway Genomics, and SVP of Ambry Genetics which was acquired by Konica Minolta for $1 billion in 2017.
Headquartered in Mira Mesa, it employs roughly 40 staffers, up from 27 in 2019.
“We are excited to have investors who are experienced operators and who share our mission and vision to change the way an enterprise or a patient can capture, refine and manage a multitude of disparate data sources in real-time, and present that aggregate in a way that solves real healthcare challenges,” said Arianpour. “This series A investment is a great validation to the story and I couldn’t be more proud of our team and our patients.”
“We are now on a trajectory of explosive growth,” he said.