Lumeon, makers of a care pathway management (CPM) platform that helps patients receive the appropriate follow-up care, recently announced $28M in new funding. The investment was led by Life Sciences Partners (LSP) one of Europe’s largest healthcare investment firms.
The company was part of the third cohort of startups that came through the Cedars-Sinai Accelerator in the fall of 2017. At the time Lumeon already had 1,800 healthcare sites live on their platform in the United Kingdom, where they maintain their European headquarters. The company’s US headquarters is in Boston.
Lumeon’s platform automates many parts of the patient journey, saving time, eliminating gaps and reducing frustration for both staff as well as patients.
The $28M raised will help accelerate Lumeon’s expansion in the US healthcare market. In an exclusive email interview with Healthcare Scene, Robbie Hughes, Founder and CEO for Lumeon, explained how the funds would be used.
“Our priority is hiring the best people to allow us to keep delivering for our customers. We’ll focus initially on building out our deployment and customer support teams to accelerate new customer implementations. The funding will allow us to grow our business rapidly and take advantage of this critical moment in the healthcare market.”
The company anticipates hiring 25 new staff to support their US market expansion.
When asked why Lumeon is well positioned to succeed in a crowed market, Hughes pointed to the company’s strong user base in Europe and clear ROI.
“We have proven our solution at scale in a market with significant cost constraints, and these initiatives have resulted in a series of key insights that help us stand out from competitors. Our customers see the immediate reduction in costs brought by automating manual tasks. They also see a revenue increase from attracting new patients.”
Lumeon was recently named a Gartner Cool Vendor for 2018.
More information about the funding announcement can be found on the company’s website.