Among last week’s wave of HIMSS announcements was Memora Health landing $30M in fresh funding from General Catalyst and a group of strategic health system partners.
The investors included big names like Northwell and NorthShore/Edward-Elmhurst, which makes sense given the two major goals of Memora’s care automation platform:
- Unburden care teams to allow them to practice at the top of their license
- Proactively guide and engage patients throughout their care journeys
The themes are familiar, but Memora’s platform tackles them in some unique ways.
- An SMS-based asynchronous communication platform (vs. app based)
- Tight integration with human providers for triage and navigation
- Automation to push data to patients + pull new data via questionnaires and devices
- AI-enabled care journeys that evolve with the behavior of patients
Memora works with its partners to understand how they manage their most complex patients, then takes their existing workflows and automates as much as possible into a text messaging protocol with reminders, check-ins, and scheduling.
- Although companies like Conversa and Twistle also play in the automated engagement sandbox, Memora points to its enterprise scalability as a differentiator.
- The platform includes a wide breadth of programs for areas like surgical care, chronic condition management, and maternal care, and Memora’s investor roster speaks to the fact that systems are actively looking for ways to consolidate solutions.
It was interesting to see Memora CEO Manav Sevak note that the round was “not something we intended to raise,” but as a way to “work more collaboratively with these sites.”
- Sevak also mentioned that Memora is “exploring opportunities” to market its solution to more payors and digital health companies.
- Memora already works with a few digital health startups like Luma Health and Reimagine Care, but its bread and butter still looks like the care delivery orgs after adding Virtua Health and Moffitt Cancer Center earlier this year.
The Takeaway
Memora’s value proposition reads like a Mad Lib of ways to address today’s biggest provider pain points, and $30M of strategic funding should definitely help it deliver. That said, it sounds like Memora is widening its focus to new customers, making execution even more important as the strategy shifts gears.
