Curisium, a healthcare technology and services company that enables contracting at scale via its blockchain-based platform, has announced that it has raised $3.5M in seed financing from Flare Capital Partners, New Enterprise Associates (NEA), Shuttle Fund, Sanofi Ventures, and Green Bay Ventures. In conjunction with this financing, Bill Geary of Flare Capital and Mohamad Makhzoumi of NEA have joined the Curisium Board of Directors, and Ruchita Sinha of Sanofi Ventures has been appointed a Board Observer.
The Curisium platform uses blockchain and secure computation technologies to allow payers, providers and life science companies to engage in patient-centric value-based contracts efficiently and securely. Nearly a third of the payments in the $3 trillion US healthcare market are tied to some form of innovative payment model; Curisium aims to transform healthcare by disrupting existing frameworks and enabling scalable value-based care contracting at the individual patient level.
Peter Kim, co-founder and CEO of Curisium, remarked: “Payers, providers and life science companies are increasingly entering into various forms of innovative contracts; however, effective implementation today is hampered by costly logistics, lack of trust and difficulty verifying patient-level outcomes.”
co-founder and Partner at Flare Capital, Geary stated: “Curisium’s platform, by enabling outcome verification at the patient level, while automating the payment side, has the potential to rapidly accelerate the breadth and depth of innovative contracting arrangements. We’re thrilled to be an investor partner with the Curisium founding team having successfully backed them before, and are impressed with their deep industry and technology insights and capabilities.”
Milind Kamkolkar, Chief Data Officer at Sanofi, added: “There is no mechanism today to effectively define or share patient health states. With the Curisium platform, we now have a trusted version of health records that will get better over time, and the industry can finally start to discover, maintain and improve patient health.”
Venture Partner at NEA and former CTO of Sun Microsystems, Greg Papadopoulos noted: “Healthcare data are siloed, and there is a reluctance to share due to fundamental distrust among its custodians. Curisium’s platform tackles this logjam with unique cryptographic guarantees around its data access.”
Both Kamkolkar and Papadopoulos have joined Curisium’s inaugural Industry Advisory Board.
Makhzoumi, General Partner at NEA and Head of Healthcare Services, concluded: “Blockchain technology has tremendous potential and there is a huge opportunity to implement this application within the healthcare industry. We are thrilled to partner with the Curisium team as they pioneer blockchain for healthcare in a pragmatic, market-driven way, that addresses pain points across trust, security, and payment logistics.”