Concerto HealthAI just raised a large $150M Series B funding round. The lead investor was David Rubenstein’s New York-based single family office Declaration Partners.
Leader for oncology AI-based technology
The US startup with offices in Boston, memphis, New York, Philadelphia and Bangalore (India) is the global leader for AI based precision oncology solutions. One of the main products of the startup is eurekaHealth: a real world data environment that supports clinical development of new drugs as well as post-approval analyses. There is a huge demand for Concerto’s products: more and more partners are onboarding, year-over-year growth is around 90 percent, 19 out of 25 largest biopharma companies are customers.
Rubenstein single family office as major investor
Andrew Goldfarb, a partner at Declaration Partners, commented the $150M Series B deal with: “We are impressed with Concerto HealthAI’s innovative culture, technology leadership, and significant runway for growth.” Other investors in the round were Maverick Ventures, Alliance Bernstein PCI and SymphonyAI Group. Declaration Partners is the single family office of David Rubenstein, the co-founder private equity investor Carlyle Group. The family office of the American investor with an estimated net worth of $2B is one of the most active US venture capital single family office investors. Other investments include Bright Health, Ever/Body, Amperity or WorkFusion. Declaration Partners is mainly investing in later stage rounds.
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Benjamín Gremler, 16.1.2020
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