ClosedLoop.ai secures $11 million Series A funding to assist healthcare organizations with clinical and financial outcomes

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ClosedLoop.ai secures $11 million Series A funding to assist healthcare organizations with clinical and financial outcomes

Press releases may be edited for formatting or style | November 19, 2020 Business Affairs
November 19, 2020 AUSTIN, Texas--(BUSINESS WIRE)--ClosedLoop.ai, Healthcare’s Data Science Platform, today announced the close of an $11 million Series A. The investment round was co-led by Greycroft and .406 Ventures with participation from Silicon Valley Bank and Meridian Street Capital. ClosedLoop makes it easy and affordable for healthcare organizations to use data science to improve outcomes and reduce costs by combining an intuitive end-to-end machine learning platform for data scientists with a catalog of healthcare specific predictive models and features.

The company’s technology is already recognized as a category leader by clients and the KLAS Healthcare AI 2020 report, which highlighted ClosedLoop as a Top Performer in healthcare-focused AI with 100% of customers saying they would buy the platform again. ClosedLoop is also a top 7 finalist in the Centers for Medicare & Medicaid Services (CMS) Artificial Intelligence (AI) Health Outcomes Challenge.

ClosedLoop’s platform provides leading-edge AI tools and automation capabilities enabling data scientists to build and deploy accurate and explainable predictive models with speed and ease. The platform supports data science teams with healthcare specific tools for data prep, automated feature engineering, AutoML / model training, and deployment / MLOps. Customers have the ability to build their own advanced custom models using ClosedLoop’s exclusive content library or take off the shelf models and customize them as their own. ClosedLoop’s content library provides more than 2,000 healthcare features including medication adherence, frailty, co-morbidities and more and the industry’s best collection of extendable pre-built predictive and prescriptive models for common healthcare use cases. The pre-built features and AutoML capabilities provide a low-code option for organizations without internal data science expertise, while the ClosedLoop API allows for advanced users to leverage ClosedLoop’s capabilities within the tools they already use such as Python and Jupyter Notebooks.

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“The biggest challenges in data science and artificial intelligence are in upfront data wrangling and last mile deployment and monitoring,” said Andrew Eye, CEO and Co-Founder of ClosedLoop. “By providing an end to end platform purpose-built for healthcare and the industry's largest catalog of prebuilt models and features, we allow customers to go from raw, messy healthcare data to production ready predictive models in as little as 24 hours.”

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