Digital Health Company BlueDot Secures $7M USD Series A Financing

BlueDot, a digital health company that uses big data analytics to track and anticipate the spread of the world’s most dangerous infectious diseases, announced today that it has closed a $7M (USD) Series A financing round co-led by The Co-operators and BDC Capital’s Women in Technology Venture Fund. The investment brings BlueDot’s total funding to $9.5M (USD) and will help the company develop its AI-driven product suite, grow its sales and commercialization efforts in government, healthcare, and insurance, and expand into new global markets.

“Our world is rapidly changing, and as a consequence outbreaks that threaten human health, security, and prosperity are appearing with greater frequency and magnitude,” said Dr. Kamran Khan, BlueDot Founder and CEO. “BlueDot is harnessing the power of big data, artificial intelligence, and digital technologies to spread knowledge faster than infectious diseases. Our products empower our clients with timely, contextualized insights that strengthen their resilience against dangerous infectious disease threats, whether originating from natural causes, accidents, or deliberate acts.”

As strategic investor, The Co-operators is investing in BlueDot through its recently launched Insurtech investment fund aimed at addressing the unmet insurance and financial services needs of Canadians taking part in an ever-changing digital economy. The partnership will explore opportunities to use BlueDot’s robust data aggregation, artificial intelligence, and predictive analytics capabilities to help insurance clients make informed decisions around the prevention of infectious diseases.

“Much like The Co-operators, BlueDot is a purpose-built organization focused on making positive social and environmental impacts, and we are very excited to explore how the company’s data analytics and predictive technology can help us strengthen the resiliency of Canadians,” said Rob Wesseling, President and CEO, The Co-operators.

“BlueDot’s technology leverages AI and big data to make a meaningful global impact,” said Michelle Scarborough, Managing Director, Strategic Investments and Women in Technology Venture Fund, BDC Capital. “We have been impressed with their growth-to-date, their growing recognition within the global health community, and their ability to continuously evolve their AI technology. With a strong, diverse leadership team, we believe the company is poised for further global growth.”

Amine Benmoussa, Principal, Healthcare Venture Fund, who led the investment for BDC Capital, added, “BlueDot has built a unique early warning system at the confluence of AI, big data, and epidemiology. Their platform revolutionizes the analysis and anticipation of infectious disease outbreaks worldwide, providing healthcare systems, governments, and insurance companies a readiness tool with massive savings potential.”

As part of the agreement, The Co-operators and BDC Capital will join BlueDot’s board of directors. Horizons Ventures, an existing investor, also participated in this financing round.

The new financing builds on BlueDot’s notable accomplishments, including:

• Predicting the Zika outbreak in Florida six months before it occurred.
• Deploying its BlueDot Insights product, a global infectious disease surveillance and early warning system, in several hospitals across North America, 12 public health agencies around the world, and within Air Canada, a major international airline carrier.
• Winning several prestigious awards including the Governor General’s Innovation Award, a Techvibes Canadian Innovation Award, an Ernest C. Manning Innovation Award, Best Place to Work for Women Award (Canada), and the Elevated Most Innovative Workplace Award.

– PR Newswire