Socially Determined, a company that offers a platform focused on the science and measurements of the social determinants of health (SDOH), announced that it had raised $7.3 million in Series A funding on Monday at the health industry ecosystem event HLTH.
With investments from Ziegler Link-Age Funds, ProMedica, 3M, OSF HealthCare and LRVHealth, the Wharf-based company founded in January 2017 will use its funding to further develop SocialScape, its cloud-based analytics product.
SocialScape uses advanced analytics and algorithms to identify SDOH risk. This provides healthcare organizations with insight to address social issues among patients.
“Our technology integrates clinical disease burden, utilization patterns, social risk and demographic data — and creates a business case for a health outcomes program,” said Socially Determined CEO and cofounder Trenor Williams in a statement. “Addressing issues like food insecurity and housing instability not only positively impacts the lives of individuals, but it provides a real cost-savings to health systems, plans and business stakeholders.”
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