# Biofourmis

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/biofourmis

- Industry: Healthcare IT
- Headquarters: Boston, US
- Website: www.biofourmis.com
- Total disclosed funding: $368M
- Latest round: Series D (Apr 26, 2022)
- Investors on record: 14

## About

Biofourmis Inc. is a healthcare technology company specializing in advanced remote patient monitoring and analytics solutions that enhance clinical outcomes and optimize healthcare delivery.Founded in 2015 in Boston, US, Biofourmis Inc. focuses on revolutionizing healthcare through innovative technology. The company has undergone strategic pivots to enhance its service offerings. Led by co-founders Kuldeep Rajput and Maulik Majmudar, Biofourmis has raised a total of USD 219.92 mn, with its latest round being SERIES D in October 2024, led by General Atlantic. The company has completed 7 deals, with its current valuation estimated at USD 1.3 bn.Biofourmis offers a technology platform that transforms healthcare delivery and drug lifecycle management. This includes solutions for remote patient monitoring and home healthcare management, such as Hospital at Home programs, aimed at improving patient outcomes and facilitating seamless care transitions. The company serves over 50 health systems and payers across the U.S. and has a growing presence in international markets like Singapore and India.In 2018, Biofourmis reported revenue of USD 250,388, with an EBITDA of USD -3,096,233, generated through subscription-based models and strategic partnerships with healthcare organizations. Their revenue is primarily derived from annual contracts or licensing agreements with health systems and payers for access to their monitoring and analytics platform.On October 21, 2024, Biofourmis announced a merger with CopilotIQ, involving various investors including General Atlantic and CVS Health Ventures. This merger is poised to enhance their technological capabilities and market reach. Future plans include the launch of new products to expand their service offerings, and further market penetration into new geographic regions, leveraging the recent funding to support these initiatives.

## Funding rounds

- Series D, Apr 26, 2022, $220M — Intel Capital, General Atlantic, SG Growth Capital, Openspace Capital, CVS Health Ventures
- Series C, Oct 1, 2020, $100M — Hong Shan, Massachusetts Mutual Life Insurance Company, SG Growth Capital, SB Investment Advisers, Openspace Capital
- Series B, Dec 4, 2019, $41M — Hong Shan, SG Growth Capital, MassMutual Ventures, Aviva Ventures, Biovotion AG, Openspace Capital, SGInnovate
- Series A, Oct 9, 2018, $7.5M — Aviva Ventures, SpesNet Pte. Ltd., Openspace Capital, SGInnovate
- Angel, Dec 1, 2015, $0.1M — Eden Ventures

## Investors

- Eden Ventures — Angel
- Aviva Ventures (https://capitalatlas.ai/funds/aviva-ventures) — Series A, Series B
- SpesNet Pte. Ltd. — Series A
- Openspace Capital (https://capitalatlas.ai/funds/openspace-capital) — Series A, Series B, Series C, Series D
- SGInnovate (https://capitalatlas.ai/funds/sginnovate) — Series A, Series B
- Hong Shan — Series B, Series C
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series B, Series C, Series D
- MassMutual Ventures (https://capitalatlas.ai/funds/massmutual-ventures) — Series B
- Biovotion AG — Series B
- Massachusetts Mutual Life Insurance Company — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series D
- General Atlantic (https://capitalatlas.ai/funds/general-atlantic) — Series D
- CVS Health Ventures (https://capitalatlas.ai/funds/cvs-health-ventures) — Series D