RESEARCH TRIANGLE PARK – Excelerate Health Ventures, an RTP-based investment group focused on funding early-stage digital health companies, has led a $4 million funding round to accelerate the adoption of BEKHealth’s clinical research software program that uses artificial intelligence.

“BEKHealth platform is the most advanced system for ingesting and processing both structured and unstructured EMR data, evaluating site feasibility and leveraging machine learning algorithms to drive automated identification of protocol-eligible patients daily,” said Andy Schwab, partner at Excelerate Health Ventures, in a statement.  “BEKHealth helps clinical research organizations cut timelines, improve outcomes and increase revenue in ways that no other platform can,” he added.

Excelerate Health Ventures in Durham raising second fund, makes $23M first close

The company is based in Connecticut.  Other investors participating in the round include Boston Millennia Partners, Connecticut Innovations, and Martin Ventures, and Change Healthcare joined the round as a strategic commercial partner.

According to a statement, the funding will be used to grow the company’s team and respond to increasing demand.

Excelerate Health Ventures closed $23.2 million on a fund that could attract as much as $35 million, according to an SEC filing earlier this year.  Its first fund was raised in 2014.  The firm lists three portfolio companies on its website that have achieved an exit through acquisition, CarePort, Bivarus, and NurseGrid.