NEW YORK – Precision health software company SelfDecode said Tuesday that it has completed an investment round worth about $8 million.
Igor Lychagov, cofounder of consumer-facing digital health app developer Ornament Health, led the round with a $6.5 million investment, while another private investor, Dan Magnuszewski, contributed $500,000. The remaining $1 million came from a previously announced crowdfunding campaign through WeFunder.
Miami-based SelfDecode combines DNA, environmental factors, and lab data with deep learning, Bayesian machine learning, and hyperdimensional computing methods and uses the resulting models to deliver personalized health recommendations.
SelfDecode said it will apply the new funding to adapt its product as a genomics-based clinical decision support system for healthcare providers. It will also look to deliver "business-relevant" personalized recommendations to corporate clients using SelfDecode reports and polygenic risk scores.
"We believe the real promise of precision medicine is empowering healthcare practitioners and health-related businesses that already play a key role in people's lives with the power of genomics," SelfDecode founder and CEO Joe Cohen said in a statement.
"Personalized health strategies are the future of medicine, and my investment in SelfDecode reflects the need to provide consumers with an actionable plan to address their health issues," Lychagov added. "Their product is innovative and sophisticated but also easy to use, affordable, and market-proven."