PicnicHealth Closes $60 Million Series C Financing to Deliver New Solutions for Patient-Centered Real-World Data and Evidence Generation

Company plans to add 30 new disease cohorts to its PicnicHealth Research Platform

SAN FRANCISCO–(BUSINESS WIRE)–#RWD—PicnicHealth, a patient-centered health technology company, today announced the closing of a $60 million Series C financing led by new investor B Capital Group. Existing investors Felicis Ventures and Amplify Partners also joined the round, bringing the total PicnicHealth has raised to more than $100 million. The company also announced plans to build 30 new patient-centered real-world data cohorts, and the addition of Adam Seabrook, Partner at B Capital Group, to the PicnicHealth board of directors.

PicnicHealth takes a patient-centered approach to building deep real-world datasets for life sciences researchers. This complete, clinically rich, longitudinal data avoids typical gaps in existing real-world data sources by working directly with consented patients. All datasets include complete medical records from all of a patient’s sites of care and can be supplemented with direct patient-reported experience and linked to other research data sources. PicnicHealth empowers patients with access to their own medical information aggregated in a single place and provides the opportunity to proactively contribute their medical journey to advance research.

“Gaining patient consent isn’t just the right thing to do, it’s the only way to build the complete, longitudinal data needed to truly describe how diseases look in the real world. This is especially important in our fragmented healthcare system, where the typical PicnicHealth patient has data spread across more than 20 different healthcare providers over seven years,” said Noga Leviner, CEO and Co-founder of PicnicHealth. “We are thrilled to expand this patient-centered approach to empower patients in dozens of new diseases with control over their data.”

The PicnicHealth Research Platform, since its launch in 2020, has powered the creation of patient-centered real-world data cohorts in hematology (including hemophilia, sickle cell disease, paroxysmal nocturnal hemoglobinuria, and immune thrombocytopenia); neurology (including multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis, myasthenia gravis, and Huntington’s disease); and rare diseases (including lupus nephritis, primary biliary cholangitis, and Pompe disease). Dozens of leading global life sciences and biopharmaceutical companies rely on these datasets to surface the real-world experiences of more diverse populations than can be studied in clinical trials alone, ultimately getting the right treatments to the right patients faster.

“Healthcare is still in the early stages of its digital transformation, and PicnicHealth – with its easily accessible and detailed patient data – is well-positioned to be a leader in the field for years to come,” said Adam Seabrook, Partner at B Capital. “We look forward to working with Noga and her team to make healthcare better for patients and to continue evolving the PicnicHealth Research Platform to meet new demands and support medical innovation.”

Funds raised will support PicnicHealth in growing its portfolio of patient-centered real-world data cohorts across 30 new indications in complex, chronic, or rare conditions. The company will also introduce new capabilities to bring this same depth and completeness to aid clinical trial sponsors in linking trial data with longitudinal real-world outcomes. In addition, PicnicHealth plans enhancements to streamline and speed the patient experience of gaining access to up-to-date medical records.

“PicnicHealth breaks through the longstanding data silos in healthcare to put critical information in the hands of the people who need it most. We are pleased to support PicnicHealth and look forward to being part of its growing impact on the field,” said Robert Mittendorff MD, Head of Healthcare at B Capital.

About PicnicHealth

PicnicHealth is a healthcare technology company that partners directly with patients to build deep real-world datasets. The company leverages state-of-the-art machine learning, combined with human curation, to port complete medical records into an easy-to-use online application. The platform gives patients unprecedented access to and control over their medical records and, with their consent, the opportunity to contribute this valuable data to further scientific research. Founded in 2014 by Noga Leviner and Troy Astorino, the company partners with dozens of the world’s largest biopharma companies and academic research institutions. Learn more at PicnicHealth.com and picnichealth.com/research-platform.

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