XO Life, a leading digital health startup, has developed the ImpactMonitor™ platform, a meta-platform that provides patients with trustworthy health information, therapy monitoring as well as support and exchange with other patients.
The Munich-based company announced that it has raised €7 million to expand its platform internationally. ImpactMonitor™ represents a specialized alternative to conventional searches such as on Google, Facebook, TikTok or Instagram.
The lead investors of the round are Sandwater and Grazia Equity with participation from Vi Partners and Bayern Kapital. Existing investors such as Aescuvest, Winning Mindset Ventures and Isartal Ventures are participating again.
“This investment will enable us to advance our technology and expand internationally. Having proven our success in the German market, we are eager to address global health challenges and bring our innovative solutions to a wider audience,” said Dr. Friderike Bruchmann, Co-Founder and CEO of XO Life.
Digital companions
Patients have a significant need for information and communication when they receive a diagnosis or medication. 70% of patients research online at least once a week, with Google and Facebook being the first choice.1 However, online content is often optimized for search engines and user searches for advertisement. Only 8 out of 10 patients therefore trust online information, they feel left alone and uncertain. 2
XO Life has developed a meta-platform which serves as a digital companion for patients with regard to their medications, products, therapies and diseases. The platform provides patients with verified medical information, collects patient feedback, so-called patient-reported outcomes, offers real world insights from other patients and enables exchange as well as medical support.
Pharma and MedTech manufacturers, among other healthcare players, offer specific product and therapy spaces via the platform to their patients. The ImpactMonitor™ platform helps manufacturers and research institutions (the latter for free) to identify the needs and preferences of patients and supports the development of new patient-oriented therapies.
To ensure an objective and free user experience, there is no exclusive content or sponsorship by manufacturers. Registration on the ImpactMonitor™ platform is quick, free and easy via Mac, PC or the app for iOS and Android.
Filling the gap
Morten E. Iversen, Partner at Sandwater, explained: “We are enthusiastic about the unique opportunities and possibilities of XO Life’s meta-platform. We are convinced that the ImpactMonitor™ platform will fill an important gap in healthcare by providing comprehensive health information and patient support across Europe and beyond.”
Jochen Klüppel, Partner at Grazia Equity, emphasised: “XO Life has developed and built an impressive digital meta-platform. Backed by a strong VC consortium, the team, which has technical expertise in medicine, natural sciences and information technology and brings together talent from more than 13 nations, can take the ImpactMonitor™ platform to the next level. We are relying on the best of the best to revolutionize an entire industry!”
Read the orginal article: https://www.eu-startups.com/2024/08/munich-based-xo-life-nabs-e7-million-to-expand-meta-platform-for-patients/
