See the presentation that got a healthtech startup $7 million from Khosla Ventures to help patients find new treatments using AI
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- Eureka Health is building a platform to help patients with chronic conditions find new treatments.
- The startup has thousands of patient reports for conditions including long COVID and obesity.
- Eureka Health used this 11-slide pitch deck to land $7 million in a round led by Khosla Ventures.
Both of Eureka Health’s cofounders, Zain Memon and Noah MacCallum, have family members who were diagnosed with chronic conditions during the COVID-19 pandemic.
One of MacCallum’s siblings was diagnosed with multiple sclerosis; the other was diagnosed with a brain tumor. Memon’s mother was diagnosed with multiple-system atrophy, a disease similar to Parkinson’s disease. All three cases had one thing in common: The diagnoses forced patients to become experts in their own conditions and to advocate for themselves when their providers wouldn’t.
Based on these experiences, Memon and MacCallum initially wanted to build online communities for those with conditions similar to the ones their family members had. But they ultimately decided to start Eureka Health in 2021, focusing on long COVID as they saw the disease affecting millions around the world.
“All the issues we observed for chronic disease were turned to 10, in terms of doctors being dismissive, there being no cures, and people being really active on these online communities,” MacCallum told Insider.
Eureka Health seeks to give patients with chronic conditions a community to find new treatments based on reports of what other patients have tried. The company calls it “Yelp for treatments.”
Eureka Health grabbed $7 million in seed funding in July led by Khosla Ventures, with participation from South Park Commons, Bling Capital, SciFi VC, Able Partners, and Bow Capital, as well as angel investors such as the cofounder of 23andMe, Anne Wojcicki; and YouTube’s former CEO, Susan Wojcicki. Eureka previously raised $400,000 from South Park Commons through its founder-fellowship program.
For a given condition, Eureka’s employees create a database of treatments manually, which the startup’s medical-advisory board informs.
Then, Eureka patients can log how effective a specific treatment was for their symptoms, as well as any side effects they may have experienced. Those reports help build an idea of the average effectiveness and the side-effect profiles of the treatments on Eureka’s site.
Patients can also log their own treatments if Eureka doesn’t already list them. The team gets notified of any new treatments and reviews them to address any potential safety or health concerns.
“We’re not making claims, we’re not overselling treatment data or efficacy,” MacCallum said. “We’re saying, here are a bunch of patient experiences, and based on those experiences, here are the benefits and side effects. Whatever patients are trying is generally welcome for other patients to learn from, with important exceptions.”
Eureka Health provided Insider with the deck it used to raise $7 million in seed funding. The startup removed confidential information about its user numbers, growth targets, and proprietary technology before sharing it with Insider.