Forta Reels In $55 Million Series A

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; <u>Forta<&sol;u>&comma; an AI healthcare company improving access to dependable quality care&comma; has raised <span class&equals;"xn-money">&dollar;55 million<&sol;span> in Series A financing led by global software investor Insight Partners&period; Other technology and healthcare investors participated in the round&comma; including Exor Ventures and Alumni Ventures&comma; as well as founders of 23&amp&semi;Me&comma; Curative&comma; Forward&comma; Flexport&comma; <span class&equals;"xn-person">Warby Parker<&sol;span>&comma; Prelude Fertility&comma; Harry&&num;8217&semi;s and Allbirds&period; With this new funding&comma; Forta plans to expand its <u>family-powered autism therapy practice<&sol;u> to provide AI-enabled applied behavior analysis &lpar;ABA&rpar; therapy and develop its suite of clinical algorithms&period;<&sol;p>&NewLine;<p>Wait times to receive care are <u>increasing<&sol;u> as more individuals are diagnosed with conditions like <u>autism<&sol;u>&comma; <u>Alzheimer&&num;8217&semi;s<&sol;u>&comma; and chronic diseases&period; The US is facing a potential shortage of<a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;4070110-1&amp&semi;h&equals;1031509928&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;aamc&period;org&percnt;2Fsystem&percnt;2Ffiles&percnt;2F2020-06&percnt;2Fstratcomm-aamc-physician-workforce-projections-june-2020&period;pdf&amp&semi;a&equals;&percnt;C2&percnt;A0" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener"> <&sol;a><u>up to 124&comma;000<&sol;u> physicians by 2034&comma; and patients and clinicians are increasingly turning to technology to help ease these healthcare burdens&period; Forta is answering their call with its mission to enable access to high-quality healthcare by researching and deploying the latest advances in AI&comma; including large language models &lpar;LLMs&rpar;&comma; to empower caregivers and improve clinical care&period;<&sol;p>&NewLine;<p>Forta&&num;8217&semi;s initial focus is improving access to therapy for those with autism spectrum disorder &lpar;ASD&rpar; using its algorithm paired with parent-led ABA therapy&period; Within months of launching the program&comma; Forta has supported hundreds of children with ASD and their families across the country&period; In a recent peer-reviewed study published in the <u>Cureus Journal<&sol;u>&comma; 76&percnt; of individuals in therapy saw an improvement in therapy goal achievement using Forta&&num;8217&semi;s tech-enabled clinical model&comma; compared to traditional approaches&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Our current healthcare system is not able to provide dependable and quality care to families when they need it&period; When we identify areas of care shortages&comma; we find ways to empower local and family caregivers with AI-based tools and education to deliver earlier and more effective interventions&comma;&&num;8221&semi; said Ritankar Das&comma; Co-Founder and CEO of Forta&period; &&num;8220&semi;We started by applying our platform to autism therapy because many families face years of waiting for care&period; Now&comma; we are exploring how to expand the empowered home caregiver model to memory care and other chronic conditions&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Forta has contracted with seven of the top 10 largest US health insurance companies and over two dozen state government programs to bring its technology to clients&period; The company&&num;8217&semi;s researchers have published several peer-reviewed publications showing improved clinical performance when enabled by Forta&&num;8217&semi;s platform&period;<&sol;p>&NewLine;