London-based startup Your.MD has raised $10 million in funding led by Orkla Ventures and including participation from Smedvig Capital AS and existing shareholders. The fund will be used to support growth of the startup’s health information platform, as well as expansion of its marketplace, OneStopHealth.
Orkla is a supplier of consumer goods that works with the bakery, grocery, health, pharmacy, confectionary, and specialized retail sectors in Central Europe, Baltics, and Nordics.
Espen Wiik, Senior Vice President of Orkla Ventures stated, “Orkla is committed to promoting innovation and creativity and Your.MD aligns with this perfectly. By employing the most advanced software including neural networks, machine learning and natural language processing, combined with the knowledge of real doctors, the platform provides users with pre-primary care information of the highest accuracy and quality. We’re excited to be a part of Your.MD’s future.”
The growth of the Your.MD health information platform will be funded by this investment, allowing it to keep its position at the front of artificial intelligence development when it comes to digital health. It will also allow expansion of OneStopHealth, which is a marketplace with trusted health service providers and products. This platform helps 35 local and international businesses to reach users with a need for their services. Your.MD plans to add partnerships in hopes to have over 100 health services by the end of the year.
Matteo Berlucchi, Your.MD’s CEO said, “This invaluable partnership with Orkla enables us to build upon the immense strides we’ve made over the last two years to offer mobile phone users access to personal and trusted pre-primary care guidance, all across the world. This investment is going to support the next phase of development of our vision: providing the best health information everyone needs, for free.”
More About Your.MD
Your.MD offers an AI-based system that is considered “pre-primary care.” You can access Your.MD from the web, iOS, Android, Telegram, Slack, Facebook Messenger, and Skype. Part of its functionality is a chatbot type system that helps a user determine what ails them by using a conversational interface that works through your symptoms and finds detailed information on possible medical conditions.
Your.MD has been downloaded over two million times and has more than a million active users in a typical month. About two thirds of users are male, while the other third is female.
In a world where WebMD and MedicineNet are already offering information on health issues, having the basis of an AI to help determine what is actually plausible seems like a reasonable idea.
The addition of OneStopHealth even takes the convenience to a new level by allowing users to buy products and learn about services available that might be of help for them. For instance, someone who is suffering from a back injury might be sent to a provider who offers massage, while someone wanting to speak to a doctor might be sent to a video telemedicine service.