The Israeli startup, Treato recently filed for liquidation at the Tel Aviv District Court. Launched in 2011, Treato operated a platform designed to gather and analyze user-generated health-related information and offer insights on medical conditions and medication.
The startup was aiming to “help patients and caregivers make more informed healthcare decisions by analyzing online conversations about medications and health conditions and sharing what others like you are experiencing and sharing online. While the information we gather isn’t from trained medical professionals, we aim to empower patients to better understand what’s ailing them, get insights to make decisions and connect with others like them.”
In court documents reviewed by Calcalist (link) the company stated it was unable to secure sufficient funding or get an acquisition offer, and that it is in a state of insolvency. The company reported $352,716 (NIS 1.3 million) in assets and a debt of $8.4 million (NIS 31 million).
Treato has raised $35.5 million in funding, according to Pitchbook data. New Leaf Venture Partners, OrbiMed, REV Venture Partners, and Western Technology Investment are some of the company’s investors. In 2015 and in 2016, Treato called on its stakeholders for two rounds of debt financing and was able to raise an additional $8.75 million.
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