Ada Health raises $47mn in new funding round

By Catherine Sturman
Raising $47 million in a latest funding round, Ada Health is soon to expand into new markets. Currently based in Europe, with locations in Berlin, Munic...

Raising $47 million in a latest funding round, Ada Health is soon to expand into new markets. Currently based in Europe, with locations in Berlin, Munich and London, the company is set to hire more staff and open up a new office in the US.

Since its launch, the health app has become one of the most popular and renowned healthcare tools on the app market and was downloaded over a million times six months after becoming established. Easy to use, it has become an essential tool worldwide, especially within countries where access to medical care is limited.

On their website. CEO of Ghana-based Vantage Medical Solutions Dr Byrite Asamoah has explained: “Many people in Africa do not have easy access to a doctor or medical information. Ada's innovative approach is helping to close this important gap.”

Daniel Nathrath, CEO and co-founder of Ada Health has said: “The future of healthcare lies in a much more patient-centric model where individuals have actionable insights at their fingertips, and doctors and artificial intelligence work together to support patients throughout their healthcare journey.”

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Utilising AI and machine learning, users are able to describe their symptoms to a technological “doctor” or consultant on the app. This data is then analysed and then enables users to be connected to a medical professional to discuss further if required.

Guillaume d’Hauteville, Vice Chairman, Access Industries has said:  Ada is one of the most exciting companies we've seen cutting across health and artificial intelligence. They have developed a unique and highly effective health management solution driven by a team with deep medical and AI expertise and years of technology development.”

Led by Len Blavatnik’s global investment company Access Industries, the funding round has attracted a number of influential investors who can see its long-term potential and ability to disrupt such a traditional industry.    

Names of financial backers have been also created a significant buzz surrounding the technology. William Tunstall-Pedoe, who sold his virtual assistant technology to Amazon in order to create Alexa has interestingly highlighted his interest as a financial investor. Additionally, June Fund, which has Google Chief Business Officer Philipp Schlindler at the helm, has contributed significantly to the app’s development.

The investment round will enable Ada Health to further its growth, enter new markets, expand its skilled workforce and develop its service offerings.

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