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Biofourmis Closes $100 Million Series C Funding Round Led by SoftBank Vision Fund 2 to Accelerate U.S. and Global Expansion

BOSTON, Sept. 3, 2020 /PRNewswire/ --A Biofourmis, a fast-growing global leader in digital therapeutics that powers personalized predictive care, has announced the completion of a $100 million Series C financing round led by SoftBank Vision Fund 2,[1]A with participation by existing investors Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI.
Biofourmis Closes $100 Million Series C Funding Round Led by SoftBank Vision Fund 2 to Accelerate U.S. and Global Expansion
In May 2019, Biofourmis closed its $35 million Series B round. Since that time, the company has increased its revenue significantly through new partnerships and growth with seven pharmaceutical companies and 10 health systems globally. Biofourmis also made major acquisitions during that time, including wearable biosensor leader BiovotionA and Takeda Pharmaceuticals' oncology-focused digital therapeutics company Gaido Health. "COVID-19 is pushing remote monitoring and digital therapeutics to the forefront of medicine," said Biofourmis CEO Kuldeep Singh Rajput. "Our vision is to use digital medicine to empower patients, clinicians and researchers everywhere by providing software-as-a-treatment for patients with unmet clinical needs, from post-acute care to optimal medication therapy. With this new funding, we will accelerate our global expansion, advance our digital therapeutics pipeline, develop additional care pathways and drive deeper integration with our health system, hospital, pharmaceutical and clinical research clients and partners."In addition, Biofourmis will use the funding for developing, validating and commercializing several released and unreleased digital therapeutics solutions across cardiology, respiratory, oncology and pain, with a focus on the United States and key Asian markets, including Asia Pacific, China and Japan.
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