July 20, 2022

Black-Owned Telehealth Service Raises $20M In Investment Funding

Black-owned cardiovascular telehealth provider, Moving Analytics, has raised $20 million in Series A funding. The funding round, which Wellington Access Ventures and Seae Ventures led, also included investors Philip Ventures, Aphelion Capital, Nueterra Capital, SteelSky Ventures, and Citi Ventures.

Moving Analytics, co-founded in 2013 by Ade Adesanya, Harsh Vathsangam, and Shuo Qiao, has partnered with cardiology offices and cardiac rehab facilities to expand access to secondary prevention for all patients.

The platform specializes in cardiovascular prevention and uses a virtual cardiac rehab program, Movn, to support patients who have recently had a cardiac event. Patients receive an Apple Watch, blood pressure cuff, and an informational booklet to complete a two-phase course virtually.

A cardiac rehab program is a customized outpatient program that is designed to help you improve your health and recover from a heard attack. The program consists of both exercise training and emotional support to help reduce heart disease risk.

Approximately 4,000 people use the platform. In addition, the app saw peak usage during the pandemic, which helped the business stay afloat.

“The problem we’re solving with the product is that less than 20 percent do cardiac rehab today in the U.S., and that’s because there are very few rehab centers for patients to go into, said Ade Adesanya, co-founder and President of Moving Analytics.

“Our mission is to empower people with the tools and support they need to live and achieve their best cardiovascular outcomes,” Adesanya said.

The additional funding brings Moving Analytics’ total investment to $30 million. The extra $20 million will help the company expand its current network to serve patients across all 50 states. It will also help refine the program to cater to the needs of women and multicultural populations.

Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.