HOUSTON, TX – February 8, 2022 – Houston based Koda Health is announcing its raised $3.5 million to roll out its groundbreaking platform nationally that empowers patients to take control of their healthcare journey, including completion of advance healthcare directives. Ecliptic Capital led the round alongside participation from Headwater Ventures, Sigmas Capital, CRCM, and a number of angel investors.
Koda Health’s proprietary technology helps patients navigate difficult conversations and make informed decisions to stay in control of their healthcare journey. Their flagship product helps health systems and payors introduce advance care planning to their patients, providing them with a personalized digital experience to learn, define and share their quality of life and care preferences. Koda facilitates the conversation, guides decision making, and auto-generates the associated legal documents, including advance directives, which patients can electronically witness or notarize immediately.
“Most Medicare beneficiaries can’t afford traditional approaches to planning for future care, like estate attorneys and direct to consumer solutions. But these are conversations and legal documents that are fundamental to navigating healthcare. Koda bridges the clinical and legal divide to make advance care planning easily accessible to everyone,” says Dr. Tatiana Fofanova, Koda Co-Founder and CEO.
Koda’s healthcare tech platform ensures conversations are not only streamlined, but also tailored to a patient’s values and needs. Healthcare partners benefit from meeting key metrics, reducing unnecessary utilization, while additionally hearing first hand of the positive impact on the lives of their patients and their families through tough moments.
“An overwhelming majority of patients receive unwanted, inappropriate, or misdirected care towards the end of life. It’s often financial and emotionally devastating for families. When coupled with a global health crisis, these miscommunications are also causing one of the biggest economic crises of our time. Understanding patients’ preferences for their future care can be used to help systems prepare for the needs of their aging population and ensure they deliver healthcare that is aligned with patient and family preferences,” says Desh Mohan, MD, Koda Co-founder and Chief Medical Officer.
The seed funding will be used to double the size of Koda’s team over the next six months, expand operations to all 50 states, and focus on low-resource communities.
“Koda Health helps vulnerable people navigate and communicate difficult decisions about their health care journey. So, when hiring, we look for empathetic people who are phenomenal communicators,” says Fofanova.
About Koda Health
Koda Health builds tools to make difficult conversations in healthcare simple. Supported by the National Science Foundation, the Texas Medical Center, and Techstars United Healthcare, Koda’s flagship Advance Care Planning (ACP) software platform provides everyday clinicians the ability to engage their patients in valuable conversations about their care preferences. Through Koda, patients have a single source to explore their values, identify a surrogate decision maker, define their quality of life, indicate treatments that matter, and complete and share advance directives — all without burdening their care team.
About Ecliptic Capital
Ecliptic Capital is an emergent, early-stage innovation fund focused on pre-seed, seed, and series A investments. Headquartered in Austin, Texas, Ecliptic’s thesis makes the case for capturing, developing, and scaling a range of emergent technologies from talented entrepreneurs from often neglected geographies and industries. Founded by serial entrepreneurs, investors, and operators, Ecliptic focuses on operational excellence, building rich relationships, and transparency to create value, trust, and insights over time. Knowing that visionary ideas need intentional nurturing, Ecliptic’s unique approach provides open-ended investment time frames to maximize value.
For more information:
Alan Cohn at Omni Public, acohn@omnipublic.global
Desh Mohan, MD at desh@kodahealthcare.com