The funds will be used to support the company's rapid growth and expand the reach of its personalized medication management platform, designed to help people take their medications as prescribed. In particular, Medisafe will grow its sales and marketing teams, expand the platform's capabilities, and open an office in London to better service its European partners and capitalize on growing demand.
Lead: Octopus Ventures
Also participating: M Ventures, Pitango Venture Capital, 7wire Ventures, lool Ventures, TriVentures, Qualcomm Ventures
"We are excited to welcome Octopus Ventures and M Ventures who believe in and support our mission of improving people's health, while producing measurable outcomes for our partners across the healthcare continuum, from pharma companies, to insurers and providers. We will use the new capital to hire the best talent, enhance the platform's capabilities, and achieve our ambitious expansion goals globally."
— Omri Shor, CEO and co-founder of Medisafe
"At Octopus Ventures, we're committed to backing unusually talented teams, obsessed with driving innovation within their industry and building global businesses. With Medisafe's application of mobile, internet and big data to the global healthcare issue of medication non-adherence there is an opportunity to revolutionize the healthcare industry, reduce waste and the financial burden that comes with it, and improve lives."
— Eyal Rabinovich of Octopus Ventures
"M Ventures invests globally in transformational ideas driven by great entrepreneurs. Technology enabled healthcare with the goal to improve patient outcomes is a key area of focus for us. We believe that Medisafe is perfectly positioned to address the issue of medication non-adherence through its technology platform, and ultimately improve patient outcomes by doing so."
— Edward Kliphuis, Investment Director of the New Businesses fund at M Ventures