Luma Health, maker of a platform that looks to reduce care inefficiencies through streamlined patient-provider communication, has announced a $16 million Series B raise, bringing the company’s equity funding total to $25.7 million.
The round was headed by PeakSpan Capital, with additional strategic investments from Cisco Investments and the Texas Medical Center. US Venture Partners, which led the startup’s prior $6.3 million funding round, also participated.
WHAT THEY DO
Luma Health was cofounded by undergraduate roommates Adnan Iqbal and Dr. Tashfeen Ekram after each experienced scheduling inefficiencies firsthand, either as a patient or as a medical student, Iqbal told MobiHealthNews.
“We found your average patient is waiting two-and-a-half to 12 weeks to get their care … and the same clinics, whether they’re a two-doctor clinic or a two dozen doctor system, they’re seeing about a 15% to to 30% unused capacity rate on any given day,” he said. “You have people waiting, you have care available, but really no easy way to connect those patients to care. And that’s really where we started early on.