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Venture Capital News: Sensely Announces $15M in Venture Funding

2019-10-28
SAN FRANCISCO, CA, Sensely has secured a fresh round of funding led by Aflac Corporate Ventures.
Sensely, a digital health and InsureTech platform that modernizes member experience while lowering costs, announced that it has secured a fresh round of funding that will bolster its burgeoning commercialization efforts and extend its platform leadership. The funding includes participation from strategic investors that represent the range of current Sensely target markets in insurance, hospital systems, and pharmaceuticals.

Aflac Corporate Ventures, the venture arm of Aflac Inc., the largest supplemental insurance provider in the United States, led the financing. Additional new investors include NMC, a diversified healthcare company with international services across 19 countries, as well as Nippon Life Insurance Company, Susquehanna International Group, Sojitz Corporation, Zuellig Pharma, and Silicon Valley Bank. Existing investors Mojo Partners, Chengwei Capital, and Pegasus Tech Ventures, also participated. With the large contingent of strategic investors, the financing also brings expanded commercial pathways to Sensely, with markets serving over 60 million members and representing over $200MM in annual recurring revenue opportunities.

The capital injection comes at a time when Sensely is seeing increasing demand for its multi-lingual AI platform, which uses a voice-enabled character interface, and incorporates into existing enterprise technology infrastructure. Sensely is currently deployed with enterprise customers in the United States, United Kingdom, United Arab Emirates, Netherlands, China, Hong Kong, Japan, Switzerland, and Australia. Customers are using the platform for a diversified set of high-value use cases, including symptom checking, insurance underwriting, claims management, medication management, and remote patient monitoring.

Nadeem Khan, President of Aflac Corporate Ventures, commented, "We're excited to be partnering with Sensely. The team has skillfully addressed many of the product elements we believe are required for success with large enterprises in highly regulated industries. In addition, the company's approach to enabling expedited cross-border launches adds a crucial element that is highly attractive to multi-geography operations."

"We're delighted by the opportunity to work with our new investment partners," said Adam Odessky, CEO and Co-founder of Sensely. "While we are pleased with our progress over the past year, especially the rollout of our software development kit, we have many important challenges ahead. This funding will ensure that we can strike a balanced approach, continuing to serve our existing partners, while also evolving the platform for the next wave of requested capabilities."

About Sensely
Sensely's avatar and chatbot-based platforms assist insurance plan members and patients with the insurance services and healthcare resources they need, when they need it. With offices in London and San Francisco, Sensely's global teams provide virtual assistant solutions to insurance companies, pharmaceutical clients, and hospital systems worldwide. For more information, please visit www.sensely.com.
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