Huma, initially established in 2011 as a patient monitoring software company, has evolved significantly, particularly during the COVID-19 pandemic when its Medopad technology was used by the U.K.’s National Health Service to monitor COVID-19 patients remotely. Currently, in 2024, Huma is making strides towards revolutionizing healthcare digitization, evidenced by their recent announcement of raising $80 million in a Series D funding round and the launch of the Huma Cloud Platform.
The newly introduced Huma Cloud Platform aims to facilitate the rapid adoption of digital health technologies by providing users with a robust no-code solution for creating customized health apps. This platform offers a variety of features including disease management tools that can be configured without coding, a library of pre-built modules, device connectivity, a cloud-agnostic framework for flexible hosting, extensive APIs, and the ability to deploy diagnostic and predictive AI algorithms. Huma likened its platform to ‘Shopify’ for digital health, indicating its utility and flexibility in serving a broad range of healthcare needs.
Huma’s vision has expanded from creating point solutions for specific conditions to developing a comprehensive enterprise platform that supports various aspects of health management, including disease management, clinical trials, and health screenings across different regions. The platform has gained traction not only in the U.K., but also in Germany, Turkey, and Saudi Arabia, and more recently in the United States, following the adoption of CPT codes for remote patient monitoring.
Big pharmaceutical companies like Bayer and AstraZeneca have utilized Huma’s technology for large-scale health initiatives such as cardiology screening and respiratory management. In the U.S., Huma has collaborated with leading research institutions like Stanford, Johns Hopkins, and Tulane University, and has extended its services to monitoring patient groups through partnerships with healthcare providers.
One of the key advantages of Huma’s platform is the alleviation of administrative burdens through billing support, leveraging new remote monitoring CPT codes to create new revenue streams for clinics and hospitals. They offer end-to-end solutions, from software deployment and device provision to patient monitoring and reporting, acting as an extension of the healthcare provider’s capabilities.
Several healthcare centers in the U.S., including Hartford Health, NY Allergy and Sinus Centers, and Ohio State University Medical Center, are among those utilizing Huma’s services. The company has created approximately 450 unique configurations to cater to various therapeutic areas such as cardiology, orthopedics, and pre-and post-operative monitoring.
Huma’s infrastructure has been designed to be scalable and cloud-agnostic, allowing the deployment of services globally on multiple cloud platforms like AWS, Google Cloud, and Oracle Cloud, among others. This flexibility is crucial for maintaining data privacy and security across different regulatory environments. Moreover, Huma’s core product is FDA-cleared and complies with multiple international regulatory standards, making it a versatile and reliable option for digital health applications.
The introduction of the Huma Cloud Platform has garnered significant interest, attracting 77 enterprise customers within the first two days of its announcement. This platform’s first consumer, Evital, plans to integrate Huma’s comprehensive digital health capabilities into its existing teleconsultation and appointment booking application, illustrating the platform’s potential to enhance existing healthcare services.
Although Huma has yet to achieve profitability, it is on track to do so by the end of the year, with significant annual revenue growth in a challenging digital health market. With a presence in over 70 countries, active engagement in 3,000 hospitals and clinics, and management of over 35 million people, Huma is poised for future growth as it continues to expand its offerings and influence in the digital healthcare industry.
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