Led by Pacira BioSciences, Inc., data analytics company Avalon.ai will utilize new capital to further expand data analysis technologies to the global marketplace
NEW YORK, NY / ACCESSWIRE / August 25, 2020 / Avalon.ai, an AI-based enterprise software, and data analytics company that supports business, government, educational, and healthcare silos, has announced today the closing of a $1.5 million seed round investment. The investment round is led by pharmaceutical company, Pacira BioSciences, Inc., along with additional investments across the health, research and bioscience industries. The capital from this investment round will be used to further expand the reach of Avalon.ai in both the U.S. and Europe, and as part of the agreement, Pacira Chief Customer Officer Dennis McLoughlin will join the Avalon.ai board.
COVID-19 continues to have a major impact on the global community, and as the virus continues its spread, it's imperative that medical and governing authorities have access to real-time insights to better inform action plans around emerging pandemic hotspots. Avalon.ai is an AI solution with data analysis that generates an accurate, by-the-minute heat map analysis of the areas most affected by COVID-19. Stemming from various data sources, Avalon.ai calculates crucial COVID case-related data with predictive analytics insights the platform has readily available at a global to hyper-local level, including weather, humidity, barometric pressure, median income, median age, unemployment rate of those impacted and broadband penetration.
With this investment, Avalon.ai can better accelerate safety measures and further evaluate the pandemic's impact, allowing organizations and their communities to use unique, personalized data to inform action before situations worsen. This investment also comes alongside the rebranding of the platform, previously named COVEX 2020, which will now be referred to as "Avalon.ai" (purchased as Avalonai.co).
"Avalon.ai and the insights it provides are surfacing as a crucial solution to the health and safety of the billions around the world impacted by this pandemic. With this infusion of capital, we plan to further our global reach and give even more organizations - from universities to governments - access to immediate data on COVID-19 and better insight into potential and arising outbreaks," said CEO of Avalon.ai, Christopher Malter. "We look forward to Avalon.ai becoming an essential tool for the battle against COVID-19 globally."
Avalon.ai's latest investment round will continue to propel the company's growth and expand reach and business development efforts on a global scale. In addition to measuring metrics as it relates to COVID-19, Avalon.ai can also provide data and analysis for other world challenges, such as the ongoing fight against the opioid epidemic.
ABOUT Avalon.ai
Avalon.ai is an AI company dedicated to developing real-time healthcare enterprise solutions, connecting customers with end-users through smart technology. Avalon.ai has formed partnerships with Oxford University, Fintel Labs, Code Skools, and Pacira BioSciences. To learn more about Avalon.ai's AI solution and product offerings, please visit us online at https://avalonai.co/index.html#.
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SOURCE: Avalon.ai