Thursday, July 25, 2024
HomeFunding CA-based Forta Secures $55M in Series A Round Funding

[Funding alert] CA-based Forta Secures $55M in Series A Round Funding

CA-based Forta secures $55M in series A round funding led by global software investor Insight Partners. Leading technology and healthcare investors participated in the round, including Exor Ventures, Alumni Ventures, Trailmix Ventures, Tectonic Ventures, Gaingels, Asymmetric Capital Partners, Launch Bay Capital, and The House Fund, as well as founders of 23&Me, Curative, Forward, Flexport, Warby Parker, Prelude Fertility, Harry’s and Allbirds.

CA-based Forta secures $55M in series A round funding led by global software investor Insight Partners. Leading technology and healthcare investors participated in the round, including Exor Ventures, Alumni Ventures, Trailmix Ventures, Tectonic Ventures, Gaingels, Asymmetric Capital Partners, Launch Bay Capital, and The House Fund, as well as founders of 23&Me, Curative, Forward, Flexport, Warby Parker, Prelude Fertility, Harry’s and Allbirds.

With this new funding, Forta will expand its family-powered autism therapy practice to provide AI-enabled applied behavior analysis (ABA) therapy and develop its suite of clinical algorithms.

Read also –  WA-based Fullcast Secures $34M in Seed Funding

Wait times to receive care are increasing as more individuals are diagnosed with conditions like autism, Alzheimer’s, and chronic diseases. The US is facing a potential shortage of up to 124,000 physicians by 2034, and patients and clinicians are increasingly turning to technology to help ease these healthcare burdens.

Ritankar Das, Co-Founder and CEO of Forta said, “Our current healthcare system is not able to provide dependable and quality care to families when they need it. When we identify areas of care shortages, we find ways to empower local and family caregivers with AI-based tools and education to deliver earlier and more effective interventions, We started by applying our platform to autism therapy because many families face years of waiting for care. Now, we are exploring how to expand the empowered home caregiver model to memory care and other chronic conditions.”

Forta has contracted with seven of the top 10 largest US health insurance companies and over two dozen state government programs to bring its technology to clients. The company’s researchers have published several peer-reviewed publications showing improved clinical performance when enabled by Forta’s platform.

Read also – MO-based Clever Real Estate Acquired Gravy Technologies

Scott Barclay, Managing Director at Insight Partners said, “In the USA in year 2023, children’s zip codes or parents’ income shouldn’t determine access to proven therapy. Families seeking autism treatment today face burdensome costs, offensive waiting lists, and undue hardships with few choices and little agency, At Insight, our computational care thesis aspires to serve founders creating scalable solutions – like Forta’s – born out of deeply rooted empathy. We are proud to back Forta’s researchers as they continue this important work.”

About Forta

Forta AI healthcare is increasing access to dependable quality care by combining the latest advances in artificial intelligence, such as large language models (LLM), with novel, compassionate care models that are evidence-driven to create breakthrough outcomes for patients.

Read also –  California-based Mercor Secures $3.6M in Funding

Forta’s autism spectrum disorder (ASD) therapy platform is currently being used in Forta’s family-powered applied behavior analysis (ABA) therapy to help hundreds of children and their families across the country.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular