The spinout has turned to Stanford-Start X Fund as it prepares to add data sciences, engineering and clinical features to its machine-learning based service for health insurers.
Cardinal Analytx Solutions, a US-based machine-learning spinout from Stanford University, secured $6.1m of series A capital on Wednesday in a round backed by the Stanford-StartX fund.
The round was led by Cardinal Partners and also featured Premera Blue Cross, a health insurer licensed by insurance provider Blue Cross Blue Shield that has piloted Cardinal Analytx’s technology.
Cardinal Analytx’s system uses machine learning and artificial intelligence to predict whether new health insurance customers are likely to be high risk so that insurers can intervene with preventative care if necessary.
The series A cash will allow the company to further develop the service and add clinical, data science and engineering features.
Cardinal Analytx is based on research by Arnold Milstein, professor of medicine and director of Stanford University’s Clinical Excellence Research Centre, and Nigam Shah, professor of medicine and biomedical data science and co-director of Stanford’s Centre for Biomedical Informatics Research.
The spinout previously took part in the StartX accelerator, though a date could not be ascertained.
Milstein said: “We are at an early stage of practical medical informatics, and the best results will hinge on a careful blend of machine and clinician intelligence.
“The team at Cardinal Analytx illustrates such a blend in support of care managers serving health insurers and accountable healthcare organisations.”
