Lumata Health Raises $4 Million in Series A Funding to Scale its Human-Led, Intelligent Eye Care Management Platform
Lumata Health announces $4 million in new venture funding to scale its impact throughout the United States.
Lumata Health currently serves thousands of patients suffering from vision-threatening chronic eye conditions through partnerships with ophthalmology clinics and health systems. Lumata Health’s intelligent eye care management platform is designed to incorporate clinical and psychosocial elements to allow patients to manage their chronic condition throughout their care journey, particularly between visits with their ophthalmologist. Patients are connected with an eye care coordinator that works with them to ensure adherence to their care plan through ongoing education and addressing barriers to care. Data shows patients supported by Lumata’s platform miss an average of 30% fewer clinic appointments.
“Our innovative, relationship-driven approach to eye care management—combining our data and technology with the skill and expertise of our team of JCAHPO-Certified Ophthalmic Assistants and Technicians—is moving the needle on the well-known patient adherence challenge that puts tens of millions of adults at risk for serious vision loss. The right combination of data, technology, and people ensures greater patient adherence, satisfaction, and clinical outcomes, while also addressing the staffing shortages that continue to plague ophthalmology clinics,” Landon Grace, CEO and Co-Founder at Lumata Health, said in a company news release. “We’re able to predict and prepare for obstacles and accommodate issues from arranging transportation and coordinating medication refills, to addressing anxiety triggered by ongoing injections and keeping patients on track with their treatment. It's a huge help to these patients as well as to the in-office staff and the physicians.”
Funding from the Series A round will be used to advance Lumata’s approach through new enhancements to its platform, including developing further predictive analytics and incorporating automated patient communication pathways to power business growth. Lumata is also using its platform to offer pre-visit intake, prior authorization assistance, and preoperative cataract education. The startup previously received more than $2 million in research funding through the National Eye Institute.
Eye care practice costs for Lumata Health’s service are reimbursed by most payers, including Medicare, and often fully reimbursed for patients with supplemental insurance.
The funding round was led by Cortado Ventures, joined with participation by the Wolfpack Investor Network and 30 practicing ophthalmologists across the US.