Komodo Health: Breathing Life into Data
Story by Caroline Xie, Daniel Alfi and Greg Stanger
In order to drive meaningful change, it’s important to find like-minded partners. When we first met Arif Nathoo and Web Sun, the co-founders of Komodo Health, we recognized that we thought about the healthcare industry — and the challenges it faces — in the same way.
In their work at Komodo to better understand disease burden and inform better healthcare interventions and decisions, Arif and Web sought to address a critical unmet need in an industry that historically has relied on static, fragmented data sets that failed to provide the rapid, comprehensive insight necessary to drive the right decisions. So, as the company’s foundation, Komodo built the industry-leading Healthcare Map, which follows the unique, de-identified patient journeys of over 320 million people in the US. By capturing millions of new clinical encounters every day, Komodo can glean valuable insights from a patient’s interaction at each step on the healthcare continuum, with the ultimate hope of uncovering hidden trends and triggering quicker action.
Building on the power and potential of the Healthcare Map, Komodo brought together world-class engineers, data scientists, and clinical informaticists to analyze the data. They enlisted designers to build in our opinion leading SaaS products to help address healthcare challenges, ranging from cost and quality to misdiagnosis and healthcare disparities. The impact and reach of these solutions have been extraordinary, and today, Komodo is being used by the top 20 pharmaceutical companies, as well as healthcare payers, patient advocacy groups, and others key stakeholders, all to better understand, predict, and mitigate disease. Our conversations with Komodo’s customers have highlighted just how mission-critical Komodo is in optimizing their decisions and allocation of limited resources to deliver a higher standard of value and care for patients.
What’s more, in the midst of a global health crisis, we believe Komodo’s real-time insights are more critical than ever. Massive amounts of data are being generated every day and hidden in that data are important insights. Faster and more informed decisions will truly impact millions of lives. Since April, Komodo has helped clients accelerate clinical trials for COVID-19, call out critical healthcare gaps exacerbated by the pandemic, develop a breakthrough new method of calculating COVID-19 drug demand and supply curves, and provide solutions for tracking infections and distributing vaccinations.
We are energized and inspired by the work Komodo has already done to facilitate progress and improve decision making in healthcare, and we are equally excited about the next major evolution in their journey: the acquisition of Mavens. Mavens is a trusted partner and pioneer in building patient, medical, and commercial software products for more than 60 life sciences companies globally over the last 13 years. Together, Komodo and Mavens will expand their software capabilities, infused with insights from Komodo’s Healthcare Map, to deliver a seamless, data-driven platform across R&D, Commercial, Medical Affairs, and Patient workflows.
Accelerated by COVID-19, the industry is shifting toward an insights-driven and patient-centered model and we believe Komodo is uniquely positioned to address the challenges of relying on fragmented data and technology stack. Komodo will allow enterprise healthcare companies to access differentiated insights, powered by a linkable source of truth, updated in real-time, to understand how disease presents across our care system and direct resources where they are needed most.
We could not be more excited and grateful to join Arif, Web, and the Komodo team on their mission to reduce the global burden of disease. At ICONIQ, we have the privilege of partnering with entrepreneurs who are driving global change and accelerating progress in healthcare through technology. Komodo represents our fifth investment in healthcare IT over the last year, and a powerful addition to our family of best-in-class vertical SaaS portfolio companies including Benchling, QGenda, Relativity, Procore, ServiceTitan and others. For more information and a complete list of portfolio companies, please visit iconiqgrowth.com.
