Medisafe is an Israeli digital therapeutics startup. Medisafe develops digital drug companions and has raised $30 million in a Series C round of funding led by Sanofi Ventures and ALIVE Israel HealthTech Fund.
The company says that it will use the new funding to expand its end-to-end solutions supporting patients managing medications and accelerate revenues growth.
You’ve probably seen people with those plastic containers with seven different sections, one for each day of the week, lying around their homes. These are used by people on medications to remember to take their pills every day. With some kinds of meds you can miss a day every now and then and it won’t be a problem. But with others missing a day could literally kill you.
This is where Medisafe comes in. It was founded in 2012 by brothers Omri and Rotem Shor. After a miscommunication about his medication schedule, their father, a diabetic, accidentally took an extra dose of insulin. It was a mistake which put his life in grave danger. The brothers soon discovered that his experience was far from uncommon. Omri and Rotem realized that such mistakes in medication management have created a global health crisis in need of a solution. They decided to build that solution.
Medisafe has more than 7 million registered users globally. It deploys digital drug companions to holistically support patients throughout their unique therapy journey. Medisafe’s advanced technology transforms patient behaviors powered by JITI™ (Just-in-Time-Interventions), AI data-driven personalized engine providing support for patients.
The company points out that in the US alone, 125,000 people die every year due to preventable medication mistakes. They cause a health emergency every forty-five seconds. The US healthcare system spends $300 billion per year addressing the crisis.
Medisafe boasts that its technology fosters patient wellbeing, saves lives and that it helps patients manage their medications and provides visibility into their daily behavior. So how does it help? It uses data, gathered from the actions of millions of patients, to generate insights that promote collaboration and “smart decision making at every level of the healthcare industry,” leading to better outcomes for all.
“This investment allows Medisafe to expand holistic treatment support for patients to impact behavior change and ultimately outcomes. Medisafe is continuously advancing its technology to meet the dynamic needs of patients managing complex therapies,” said Omri Shor, CEO and Co-Founder of Medisafe. “The future model of patient support is not purely digital but adaptable to empower human connections. In fact, we are seeing impressive results connecting clinicians and care givers into the support solutions with adoption rates 4x that of pure digital and increasing nurse-to-patient connectivity by 1.8x. We are excited to build out further capabilities to meet the evolving needs of the industry.”