MyHealthTeams, a San Francisco-based startup developing social networks for people with chronic health conditions, announced on Aug. 15 an infusion of $9.44 million in Series B financing.
The funding round was led by international biopharmaceutical company UCB. Other participants included CVS Health, HealthTech Capital and more. The funding will be used to both expand MyHealthTeams' existing social networks and launch several new ones.
The company currently offers 33 networks, each focused on a chronic condition such as multiple sclerosis, irritable bowel syndrome, hemophilia or depression. MyHealthTeams' collective 2 million users across 13 countries share information, tips and emotional support with the social networks, which also use artificial intelligence to tailor patient education efforts to each user.
"Improving health outcomes requires thinking beyond the pill and operating beyond the doctor's office," said Eric Peacock, cofounder and CEO. "Living with a chronic health condition is a daily reality for nearly half the people in the world, and our social networks empower members to find information and support to help them better manage their conditions."
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