Washington, DC-based healthcare technology startup Socially Determined announced at HLTH that it has raised over $7.3 million in Series A funding. Investors include Ziegler Link-Age Funds, ProMedica, 3M, OSF HealthCare, and LRVHealth.
Socially Determined is a healthcare analytics company focused entirely on the science and measurement of the social determinants of health (SDOH). SocialScape, the company’s flagship analytics product, quantifies SDOH risk and delivers unprecedented insights into how SDOH impact cost, utilization, and outcomes. Using advanced analytics, proprietary algorithms, and machine learning models, Socially Determined offers a comprehensive approach to uncover SDOH risk and change the way healthcare organizations address critical social issues.
“Our technology integrates clinical disease burden, utilization patterns, social risk and demographic data—and creates a business case for a health outcomes program,” stated Trenor Williams, MD, CEO and co-founder of Socially Determined. “Addressing issues like food insecurity and housing instability not only positively impacts the lives of individuals, but it provides a real cost-savings to health systems, plans, and business stakeholders.”
“Socially Determined is on track to become a lead provider of SDOH analytics in the industry,” added Neil Borg, Senior Managing Director at Ziegler and Chief Strategy Officer of the Ziegler Link-Age Funds. “There is massive market interest across multiple sectors in healthcare and we are proud to lead the investment round for this dynamic organization.”
The company will use the new capital to further develop and scale its secure, cloud-based SocialScape platform, invest in top talent, and build out sector-specific sales and marketing programs.
Along with Williams, Ryan Bosch, MD, and Anthony Beverina founded Socially Determined in 2017. The company employs a team of 23 with expertise in analytics, data science, innovation, and healthcare delivery. Socially Determined is headquartered in Washington, DC and operates a second office in Blacksburg, VA.