ClosedLoop operates as a privately held organization based in Austin, Texas, and founded by Andrew Eye and Dave DeCaprio. The company has an estimated revenue of $3.6 million and used to conduct business under the name Deep Health Technologies.
- ClosedLoop is a privately held data science platform for healthcare that focuses on technology enabling the utilization of data science to enhance quality and diminish costs in a seamless and inexpensive way.
- Their technology is made up of two significant pillars. One of those pillars is a machine learning automation platform centered on healthcare, while the other is an inventory of pre-built prescriptive and predictive models which may be further extended and modified according the requirements of the local population.
- They supply an AI platform designed to offer healthcare services. This platform offers distinct "predictive risk models with accuracy ratings, deploys fast setups with big data and lowers cost with SaaS delivery model," which allows patients to be granted suitable healthcare services.
- The company employs less than 50 individuals, with LinkedIn listing only 14. It specializes in statistical modeling, big data, deep learning, data analytics, machine learning, artificial intelligence, clinical support, predictive analytics, and healthcare IT.
- It is listed on 'Austin's Top Funded Tech Startups' as well as 'BuiltInAustin's 50 Startup's to Watch in 2019.'
- The CEO of the company, Andrew Eye, has an entrepreneurial and executive career in B2B and B2C that spans almost two decades, for various Fortune 500 businesses and startups. He has also established and sold three different technology companies in the past.
- The estimated revenue of ClosedLoop is approximately $3.6 million.
- Oak Street Health is the only customer publicized by ClosedLoop. It is a wholly-capitated system of primary care firms meant for individuals (adults) with Medicare. Oak Street Health is established on a healthcare model centered on well care that is replicable and sustainable.
- The company's total number of employees ranges between 12 to 18.
- The company received a seed funding amounting to $3.04 million and a total of six investors. Its most recent investors are Social Starts and Joyance Partners.
- While the company has not invested anywhere so far, Andrew Eye (the CEO) has invested an undisclosed amount in GoFish Cam. GoFish Cam operates as an Austin-based startup supplying a waterproof camera that records fishing activity. Andrew Eye is a part of the startup's advisory board.
Our research began by consulting company-related sources as they provide the most authentic and credible information. Thus, we searched through the company website, including the news and press release section, its presentations and research notes, the company blog, etc. We discovered that ClosedLoop is a recently founded company, and it is a privately owned organization. Hence, we were unable to locate any annual reports or company presentations. Furthermore, the news archive contained just three items since its inception. Though we were able to assess the client base from the case studies section, it only provided one client.
Next, we scanned through data provided by aggregator sites like Bloomberg, Crunchbase, Pitchbook, etc. We observed that the information held by these sites was repetitive and minuscule in volume. We extended this strategy to research sites such as Kantar, Ipsos, and Nielsen, which produce market-related information for various sectors. The idea was to deduce data from these websites based on research conducted on predictive analytics and AI-based organization in healthcare services. Though we acquired information on the sub-segment and other players from this strategy, there was no mention of ClosedLoop, as it is a new market entrant.
Afterward, we focused on each missing data point specifically. For information related to revenue projections and other financials, we tried analyzing the AI and predictive analytics software industry. The idea was to assess the market size and then deduce the company's share, leading to more informative data. However, this strategy failed as there was no available market share percentage, along with other related percentage splits. For details on important milestones, we explored popular AI software forums and associations such as WeForum, Semicon West, VentureBeat, etc. We wanted to deduce historical information discussed on these platforms by other organizations, customers, investors, etc. Nonetheless, there was no such information for ClosedLoop.
We also tried to observe the cycle of changes for the website, using a time machine, which was unsuccessful. Regarding adjustments in senior leadership, we referred to sites like LinkedIn, Glassdoor, and Indeed, among others. We discovered that the current executives have been there with the company since its inception, confirming that there has been no notable leadership changes. To gain insights on the major customers, we examined the leading healthcare services providers in the market. The idea was to look for any association or partnership with ClosedLoop. We consulted companies such as UHG, Cardinal, and McKesson, among others., but ClosedLoop was not named.
During our research, we were unable to locate information on the significant milestones, changes in leadership, and revenue projections for ClosedLoop. The primary reason for the limited availability of information is that the company is a private entity that is not obligated to disclose data to the public. Also, ClosedLoop is a recently established business, with less than three years in operation. Therefore, the company has yet to achieve milestones, organize an exceptional client-base, or offer strategic revenue projections. Furthermore, ClosedLoop faces stiff competition in the market from other startups, which may cause it to refrain from publishing information publicly.