Evidation Health Valuation, Funding & Investors
Evidation Health is valued at $1B as of March 2021.
Last Evidation Health valuation
$1B
Series E · Mar 2021
Last Evidation Health funding round
$153M
Series E · Mar 2021
Cumulative funding Evidation Health raised
$259M
across 7 funding rounds
Key investors in Evidation Health
B Capital
GE Ventures
SV Health Investors
Sanofi Ventures
Fresco Capital
Asset Management Ventures (AMV)
About Evidation Health
Evidation Health is a San Mateo-headquartered company founded in 2012 that measures health outcomes through everyday activities via its Achievement platform. The platform enables participation in research and health programs with partners in healthcare and pharmaceuticals. Evidation maintains offices worldwide and emphasizes user-controlled health data for studies beyond clinical settings.
Founded
2012
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$1B (Mar 2021)
Evidation Health Valuation
Evidation Health is currently valued at $1B, based on its Series E in March 2021.
The $153M round was led by Kaiser Permanente Ventures and OMERS Private Equity, with participation from McKesson Ventures and B Capital.
Evidation Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series E | $1B |
Evidation Health Funding History
Evidation Health has raised a total of $259M across 7 funding rounds.
Evidation Health's first fundraising round was a $6M Series A in December 2014. The most recent completed round was a $153M Series E in March 2021.
Evidation Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2021 | Series E | Kaiser Permanente Ventures (lead); OMERS Private Equity (lead); McKesson Ventures; B Capital | $153M | $1B | Evidation Health is a health data analytics company that operates the Achievement platform, the largest digital health network in the United States, aggregating real-world patient data from sources like Apple Health, Fitbit, Epic, and Dexcom to provide insights for payers, pharma, and health systems. The platform records raw behavior data such as speech and video from patients' devices to analyze health and disease impacts, enabling virtual health programs and research studies across therapeutic areas. Founded in 2012 through a partnership between GE Ventures and Stanford University, Evidation works with biopharma companies, academic institutions, public health organizations, and medical specialty societies, having conducted over 100 real-world studies. On March 22, 2021, Evidation closed a $153 million Series E growth funding round co-led by Kaiser Permanente Group Trust (also referred to as Kaiser Permanente Ventures) and OMERS Growth Equity (OMERS Private Equity), with participation from existing investors McKesson Ventures and B Capital Group. The round valued the company at $1 billion according to Bloomberg, bringing total funding raised to over $250 million across multiple rounds. Teresa Lee from OMERS Growth Equity joined the board as part of the investment. The proceeds are designated to rapidly expand virtual health capabilities on the Achievement platform, personalizing insights to help patients manage care and transforming interactions with the healthcare ecosystem by providing evidence-supported guidance. At the time, Achievement was used by more than 4 million people, with over 1 million individuals participating in research and health programs in 2020, and expectations to surpass 2 million participants later that year. This follows a $45 million Series D round in July 2020 led by B Capital Group. Evidation positions itself uniquely to generate evidence for digital health and biopharma treatments while enabling individuals to act on that evidence for better health management. Competitors in real-world data and oncology research include Flatiron Health, acquired by Roche for $1.8 billion. The company continues to build on its research-grade data network for scalable virtual health solutions. |
| Jul 2020 | Series D | B Capital (lead); Revelation Partners; McKesson Ventures; SV Health Investors; S32; Rethink Impact | $45M | - | Evidation Health is a US-based health data analysis provider founded in 2012 through a partnership between Stanford University and GE Ventures. The company's platform, Achievement, records behavioral data such as speech and video from patients' electronic devices and analyzes it to provide insights on health and disease. Evidation closed a Series D funding round of $45 million led by B Capital Group in April 2020 (not July 2020 as stated in the query), with participation from McKesson Ventures, Section 32, Revelation Partners, Rethink Impact, and SV Health Investors. The company later closed a Series E round on March 22, 2021, raising $153 million at a $1 billion valuation, co-led by Kaiser Permanente's Group Trust and OMERS Growth Equity, which included B Capital Group and McKesson Ventures as participants. |
| Aug 2018 | Series C | B Capital (lead); SV Health Investors (lead); GE Ventures; Sanofi Ventures | $30M | - | Evidation Health, a health data analysis provider, raised $30 million in its Series C funding round around January or August 2018, co-led by B Capital Group and SV Health Investors, with participation from GE Ventures and Sanofi Ventures. The company, co-founded in 2012 through a partnership between Stanford University and GE Ventures, operates the Achievement platform that records raw behavior data such as speech and video from patients' devices to analyze health and disease insights. This round brought Evidation's total funding to $61 million at the time. The investors highlighted Evidation's strong data intake, aggregation, analytics capabilities, and leadership team's expertise in technology and healthcare, positioning it as a unique platform to improve clinical development, drug delivery, treatment, and outcomes. SV Health Investors Managing Partner Michael Balmuth joined the board. B Capital Group, a global VC firm focused on healthcare among other sectors, and SV Health Investors, with over $2.5 billion in commitments and a history of 175+ investments, backed the growth. |
| Apr 2017 | Series A | Sanofi Ventures (lead); GE Ventures; B Capital | $10M | - | Evidation Health closed a $10 million funding round on April 27, 2017, led by Sanofi-Genzyme BioVentures with participation from existing investors GE Ventures and B Capital Group. The company, founded in 2012 through a partnership between Stanford University and GE Ventures, develops a platform to quantify real-life patient outcomes using data from hundreds of applications and devices. The funding aimed to enhance capabilities in large-scale behavioral analytics, health outcomes measurement, and digital biomarker development. Evidation Health helps healthcare companies, including pharmaceutical firms, payers, providers, and digital health entities, leverage digitally captured real-world data for outcomes research through virtualized pragmatic trials. |
| Oct 2016 | Series B | B Capital (lead); Fresco Capital; Pappas Ventures; AMV Holding; GE Ventures | $3M | - | Evidation Health raised $15 million in a Series B funding round on October 11, 2016, led by B Capital Group with participation from existing investors GE Ventures, AMV Holding, Fresco Capital, and new investor Pappas Ventures. The company, a digital health platform, uses big data and machine learning to validate clinical products and services through patient participation and real-world evidence. Evidation enables rapid evaluation of technology-based health interventions, analyzing billions of data points for digital biomarkers, patient-reported outcomes, and disease progression measurements. Previously known as Activity Exchange, Evidation launched in March 2015 via a partnership between GE Ventures and Stanford Health Care, following a $6 million Series A round. The Series B funds supported scaling operations to meet customer demand, enhancing machine learning for behavior data analytics and digital biomarker development, and expanding direct population reach for faster enrollment and lower-cost interventions. CEO Deborah Kilpatrick highlighted the financing as recognition of the company's growth and leadership in quantifying health outcomes in digital medicine. |
| Jun 2016 | Series B | B Capital (lead); Asset Management Ventures (AMV); GE Ventures | $12M | - | Evidation Health raised $11.6 million in a funding round around June 2016, with participation from B Capital Group (first healthcare investment), GE Ventures, and Asset Management Ventures. The company, previously known as Activity Exchange, provides clinical validation of digital health apps for payers, providers, and health systems using big data technology. This followed a Series A round in March 2015 (or January/December 2014 per sources, $6M-$6.16M). Evidation Health partnered with Ochsner Health System for its O Bar app engagement portal and collaborated with PokitDok to access claims data for evaluating digital health interventions and outcomes. The company focuses on real-world evidence through direct-to-patient trials and machine learning for behavior data analytics and digital biomarkers. A subsequent Series B round of $15 million closed in October 2016, led by B Capital with participation from GE Ventures, AMV, Fresco Capital, and Pappas Ventures, to scale operations and extend population reach. |
| Dec 2014 | Series A | Fresco Capital; Asset Management Ventures (AMV); GE Ventures; Rock Health Capital | $6M | - | Evidation Health is a health technology company founded in 2014 through a joint initiative of GE Ventures and Stanford Health Care. The company developed a digital platform to help healthcare organizations and pharmaceutical companies quantify the real-world health outcomes of their interventions and products. In its Series A round on December 31, 2014, Evidation Health raised $6.16 million. The company subsequently raised multiple additional funding rounds, including a Series E round in March 2021 that valued the company at over $1 billion, demonstrating significant growth and investor confidence in the digital health outcomes measurement space. |
Who has invested in Evidation Health?
15 investors have backed Evidation Health across its funding rounds, including B Capital, GE Ventures, SV Health Investors, Sanofi Ventures, Fresco Capital and Asset Management Ventures (AMV).
Lead investors include Kaiser Permanente Ventures, OMERS Private Equity, B Capital, SV Health Investors and Sanofi Ventures.
Evidation Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Los Angeles, CA | 6 | Lead | Jun 2016 | |
| Menlo Park | 5 | Participant | Dec 2014 | |
| San Francisco, CA | 2 | Participant | Jul 2020 | |
| San Francisco, CA | 2 | Participant | Dec 2014 | |
| Boston, MA | 2 | Lead | Aug 2018 | |
| San Francisco, CA | 2 | Participant | Dec 2014 | |
| United States | 2 | Lead | Apr 2017 | |
| San Francisco, CA | 1 | Participant | Jul 2020 | |
 Toronto | 1 | Lead | Mar 2021 | |
| San Francisco, CA | 1 | Lead | Mar 2021 | |
| San Diego, CA | 1 | Participant | Jul 2020 | |
| Durham, NC | 1 | Participant | Oct 2016 | |
 High Wycombe | 1 | Participant | Oct 2016 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialEvidation Health Competitors
Evidation Health competitors include listed companies like DarioHealth and Helus Pharma, and private ones like Welle, Twin Health, Cult.fit and Glooko.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Los Angeles, CA | Private | - | - | $1.2B | - | |
| San Francisco, CA | Private | - | - | $1.4B | - | |
 Bangalore | Private | $74M | - | $1.5B | - | |
| San Francisco, CA | Private | - | - | $476M | - | |
| United States | Publicly listed | $22M | ($36M) | $69M | 4.0x | |
| Canada | Publicly listed | - | ($153M) | $991M | - |
Evidation Health Public Comps
Evidation Health is still privately-owned, but its public comps include Helus Pharma, Sphere, Omada Health, SOPHiA Genetics, Certara, Nutex Health, Veradigm, Indegene, JMDC and Bayzed Health Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($153M) | - | - | (5.4x) | (4.8x) | |||
| $70M | $6M | 14.3x | 6.9x | 156.3x | 103.0x | |||
| $260M | ($10M) | 3.8x | 3.1x | (98.6x) | 48.5x | |||
| $77M | ($65M) | 8.8x | 7.5x | (10.4x) | (18.8x) | |||
| $419M | $103M | 3.4x | 3.6x | 13.9x | 12.0x | |||
| $875M | $288M | 2.0x | 2.0x | 6.0x | 6.4x | |||
| $588M | $54M | 0.9x | 0.9x | 9.8x | 6.8x | |||
| $366M | $68M | 3.7x | 3.3x | 19.9x | 18.2x | |||
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Common questions about Evidation Health
| When was Evidation Health founded? | Evidation Health was founded in 2012. |
| Where is Evidation Health headquartered? | Evidation Health is headquartered in San Francisco, CA, United States. |
| Is Evidation Health publicly listed? | No, Evidation Health is a private, VC-backed company. |
| What is Evidation Health's valuation? | Evidation Health was last valued at $1B in its Series E in March 2021. |
| How much funding has Evidation Health raised? | Evidation Health has raised $259M across 7 funding rounds. |
| What was Evidation Health's last funding round? | Evidation Health's last funding round was a $153M Series E in March 2021, led by Kaiser Permanente Ventures and OMERS Private Equity. |
| Who are Evidation Health's investors? | Evidation Health's investors include B Capital, GE Ventures, McKesson Ventures, Fresco Capital, SV Health Investors, Asset Management Ventures (AMV), Sanofi Ventures, Revelation Partners, OMERS Private Equity, Kaiser Permanente Ventures and 5 others. |
| Which companies are comparable to Evidation Health? | Companies comparable to Evidation Health include Welle, Twin Health, Cult.fit, Glooko, DarioHealth and Helus Pharma. |
See companies similar to Evidation Health
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