citybiz+ Lucem Health Closes on $7.7 Million Series A

Lucem Health, a Raleigh, N.C. firm using AI to develop clinical technology, has closed a Series A funding round of $7.7 million led by Mayo Clinic, New York-based Granger Management and St. Louis, Mo.-based Mercy Hospital (St Louis). Existing investor Rally Ventures, of Minneapolis, also participated in the round. So far, Lucem has raised $13.7 million.

“AI has tremendous potential to transform and augment how physicians and providers practice medicine, make decisions and serve their patients. Yet, so far, we have barely scratched the surface of AI’s potential in healthcare,” said Lucem founder and CEO Sean Cassidy, who previously led Corepoint Health. “We started Lucem Health to accelerate integration of powerful AI-generated insights into care delivery workflows in a thoughtful, responsible way.”

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Lucem was launched by Mayo Clinic, a Rochester, Minn.-based nonprofit, and Commure, a healthcare company in the portfolio of Cambridge, Mass.-based General Catalyst, with the aim of building a platform to arm remote patient telemetry devices with AI-enabled algorithms. Its platform is designed to detect diseases early, optimize care delivery and improve healthcare outcomes overall.

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“Lucem Health exists to help diagnostic medicine innovations see the light of day,” said Cassidy. Currently, the company enables algorithms built by Mayo Clinic and another startup it incubated, Anumana, based in Cambridge, Mass. Mayo Clinic’s algorithms lie in its Remote Diagnostics and Management Platform (RDMP), which augments human decision-making.

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Recently, Lucem launched Lucem Health Reveal, a system to identify patients who may be at higher risk of serious or chronic diseases. Reveal essentially takes a fresh look at any available clinical data in the hope of uncovering new insights. Lucem’s platform will help any research institution or hospital with a pool of clinical data to use Reveal’s technology.

Granger Management is an investment advisory firm founded in 2013 by Andy Walter. Rochester, Minn.-based Mayo Clinic has raised nearly $400 million, and made over 60 portfolio investments.