22/04/2016

Finnish health technology company Netmedi raises $940k seed funding

The funding enables Netmedi to make their web-based patient-reported outcome software Kaiku® Health available for cancer clinics in Europe.

Helsinki, Finland, 22 April 2016 — Netmedi, developer of the Kaiku® Health platform, announced a $940k raise for its seed investment round. The financing round is being led by Jaakko Ollila from Metsola Ventures, private investor and founder of Med Group Kustaa Piha, Harri Tilev from T&T Nordcap along with significant participation from prior lead investor Reaktor Ventures.

Netmedi was founded in 2012 by five software developers deeply passionate about health care technology. Together with experts in comprehensive cancer care, the founding team began to develop a software for collecting and analyzing patient-reported outcomes of cancer care. Today Kaiku® Health is one of the leading digital solutions for data driven and personalized cancer care.

Kustaa Piha, Doctor and Founder of Med Group, describes his participation: “Netmedi already has 17 cutting-edge clinics as their clients in Finland, Sweden and Switzerland. The team has a profound understanding of the field. Kaiku® Health has been designed to enhance the daily clinical routines. The solution provides personalized care for the patients and the clinics are better able to improve their performance.”

“We aim to have the best cancer care professionals around the world using and developing Kaiku® Health with us. Last year we were able to increase our revenue by 70 percent organically and with the recent funding we are prepared to accelerate up our expansion in Europe this year”, says Lauri Sippola, CEO and Founder of Netmedi.

Personalized care for cancer patients, data based insights for medical professionals

Kaiku® Health is the patient’s individual guide through cancer treatment and recovery, and a real-time dashboard that allows the nurses and doctors to improve outcome-driven care by providing up-to-date patient data. The platform enables secure communication online between patients and the care team.

Kaiku® Health has been developed in close co-operation with patients, cancer researchers, clinics, doctors and nurses. The software supports several treatment options of nine common cancer types: breast, prostate, melanoma, liver, bile duct, pancreas, colorectal, lymphomas as well as head and neck.

“Cancer cases are expected to rise from 14 million in 2012 to 22 million within the next two decades. It is only getting likelier that cancer will affect us at some point in our lives, either directly or through our relatives. We are determined to develop the leading digital solution that supports the individual treatment of each patient and enables consistent follow-up on outcomes”, concludes Lauri Sippola, CEO and Founder.

Media contacts
CEO and Founder, Lauri Sippola, +358 40 744 7481, lauri.sippola@netmedi.fi
Head of Communications, Noora Kykkänen, +358 44 593 2460, noora.kykkanen@netmedi.fi

About Netmedi and Kaiku® Health
Netmedi is a Finnish health technology company and developer of the Kaiku® Health platform. Netmedi strives to be the leading digital solution provider for data-driven, personalized health care. Kaiku® Health collects and analyzes patient-reported outcomes during cancer treatment and recovery. Kaiku® Health is currently used by 17 leading clinics and institutes in Finland, Sweden and Switzerland. The company, founded in 2012 by five software developers deeply passionate about health care technology, has now grown to team of 15 dedicated employees. The company is backed by Reaktor Ventures, along with other venture capital funds and private investors, and is supported by Tekes – the Finnish Funding Agency for Innovation.


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