New York-headquartered self-diagnosis startup K Health Inc. has raised $48 million in a round led by existing investors Mangrove Capital Partners and New York-based 14W, the company announced Thursday. The round brings K Health’s total funding raised to date to around $97 million, according to the company.
Founded in 2016 by Israeli entrepreneurs Ran Shaul, Allon Bloch, and Adam Singolda, K Health develops a digital assistant that uses crowd-sourced data about medical symptoms to provide users with diagnostic information and treatment suggestions.
The app also uses an anonymous database from Israeli health maintenance organization Maccabi Healthcare Services, which is based on 2.2 million doctor visits that took place over the past 25 years. K Health employs a team of 110 people, including mathematicians, doctors, and developers in Tel Aviv and New York.
Additional investors in the current round include NYSE-listed health insurance company Anthem Inc., Comcast Ventures, the investment arm of U.S.-based telco Comcast Corp., BoxGroup, Max Ventures, Lerer Hippeau, and Primary Venture.
K Health’s app allows users to answer a set of questions, offering an educated guess on a possible prognosis, through machine learning algorithms. The app also lets users request a doctor referral based on the app’s findings, charging a small fee of $14.
K Health’s app currently has 3 million active users in 47 U.S. states, including tens of thousands of paying customers, Bloch said in an interview with Calcalist. Anthem gives K Health a strong alliance with one of the most significant players in the U.S. insurance sector, and the company intends to expand to South America and Asia Pacific in the future, he said.
K Health is currently working to expand its operation to chronical illnesses, high blood pressure, diabetes, oncology, cardiology, and pediatrics, Bloch said.
What K Health is doing is an information revolution with a good cause, Singolda, who is also the founder and CEO of content distribution company Taboola.com Ltd., told Calcalist. “We are not going to replace doctors but we are trying to revolutionize the way the healthcare system operates, after 100 years of it being at a standstill.”