Huma Completes Series D Funding, Launches Innovative Huma Cloud Platform

Global healthcare AI company Huma Therapeutics Limited has announced the completion of its Series D funding round, raising over $80 million. This new financial milestone pushes the company's total funding to more than $300 million. Key investors in this round include AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, and Leaps by Bayer, among others. The funding round was advised by HSBC Bank plc.

In conjunction with its financing success, Huma has launched the Huma Cloud Platform, a groundbreaking technology ecosystem designed to accelerate the development and scaling of digital health products. Traditionally, building and launching digital health solutions that meet regulatory standards can take years. Huma aims to reduce this timeline to mere days through its platform.

The Huma Cloud Platform offers a wide range of capabilities, including no-code configuration of regulated disease management tools, a library of pre-built modules, device connectivity, a cloud-agnostic framework for flexible hosting, and readiness for hosting AI algorithms. It also features a marketplace and readily available APIs for seamless integration. This platform not only supports Huma's own digital health initiatives but also empowers other organizations to efficiently develop and scale their projects.

In 2023, Huma achieved a significant regulatory milestone, becoming the first and only configurable, disease-agnostic platform to secure FDA Class II, EU MDR Class IIb, India CDSCO Class C, and Saudi FDA Class C certifications. This regulatory status significantly reduces the cost, time, and risks associated with bringing digital health projects to market. The platform is equipped with a Software Development Kit (SDK) for accelerated development and integration into existing solutions.

Dr. Juergen Eckhardt, EVP and Head of Leaps by Bayer, praised Huma's advancements, stating, "We have known Huma for several years and we've been impressed by their remarkable progress. With their next-generation AI capabilities and Huma Cloud platform, Huma can partner with pharma companies to deliver efficient digital health solutions to patients focused on predictive and proactive care."

To date, Huma's technology has been implemented in over 3,000 hospitals and clinics, engaging over 35 million individuals and boasting 1.8 million active users across more than 70 countries. The company's U.S. business has seen substantial growth, attributed in part to new reimbursement codes. Huma's RPM product for respiratory use cases now covers 140,000 contracted lives. The company's revenue has doubled year-on-year, and it is targeting profitability this year.

Huma collaborates with over half of the top 20 pharmaceutical companies globally and is involved in major national healthcare projects worldwide. The company has partnered with Google and others to develop new AI models that could enable its Cloud Platform users to manage more patients with less labor. For example, the "10x Nurse" feature significantly reduces administrative tasks and automates the patient review process while keeping humans in the loop. This innovation promises efficient management of chronic diseases with fewer staff and real-time monitoring to ensure patients are on the correct treatment pathways.

Looking ahead, Huma aims to combine its Cloud Platform with next-generation AI models to have a broader impact on digital-first care and research initiatives. The platform is set to support small startups and enterprises in launching digital solutions more quickly and cost-effectively, allowing them to focus on project success rather than regulatory and technological challenges.

Dan Vahdat, Founder and CEO of Huma, expressed gratitude to the company's shareholders, saying, "We are here to accelerate the adoption of digital and AI across care and research, and we do that by making the building of digital health solutions for care and research easy. We like to think of Huma Cloud Platform much like Shopify but for digital health instead of e-commerce. We believe when digital and AI are scaled, they become affordable for both the poor and the rich. This will help us transition medicine from being reactive to proactive."