Singapore startup to build largest behavioural health data platform

Singapore startup to build largest behavioural health data platform
Nawal Roy, Holmusk’s Founder and CEO

Raises S$60 million in Series B funding.

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Singapore-based behavioural health data analytics company Holmusk has secured an investment of US$45 million (S$60 million) in its Series B funding round, led by Veradigm (formerly Allscripts Healthcare Solutions), a healthcare technology company.

Founded in 2014, Holmusk develops predictive algorithms to offer actionable insights for personalised care and population health management.

The round saw participation from current investors including Heritas Capital, Health Catalyst Capital, Novartis (dRx Capital), Northwell Holdings, the venture investment arm of Northwell Health, and other previous investors.

According to Holmusk, it will leverage the investment to continue the expansion of its flagship offering, the NeuroBlu Database.

NeuroBlu is a real-world data (RWD) repository that contains de-identified electronic health record (EHR) data from US mental healthcare providers operating the MindLinc EHR system.

Holmusk’s Founder and CEO, Nawal Roy said the investment will help in curating and enhancing data as the company plans to build the world’s largest platform for behavioural health data.

“We remain focused on this mission because we know that quality data leads to improved evidence, which leads to better health outcomes,” he added.

Holmusk intends to enter into a data partnership with Veradigm to bring cohorts of behavioural health and related de-identified patient data from Veradigm to the NeuroBlu Database, adding to Holmusk’s real-world clinical data asset.

Veradigm’s Chief Executive Officer, Rick Poulton said that mental and behavioural health is a serious global health problem that has increased during and post the COVID-19 pandemic.

Poulton added that Holmusk has the expertise to create the evidence needed to improve mental health, and the partnership will help equip the company with the resources needed to advance this work.

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