Curisium, a blockchain-based healthcare technology and services company, has announced that it has raised $3.5M in seed financing.

Based in California, Curisium uses blockchain and secure computation technologies to allow payers, providers, and life science companies to efficiently and securely engage in innovative, patient-centric value-based contracts. It aims to transform healthcare by enabling scalable value-based care contracting at the individual patient level.

"Payers, providers, and life science companies are increasingly entering into various forms of innovative contracts," said Peter Kim, co-founder and CEO of Curisium. "However, effective implementation today is hampered by costly logistics, lack of trust, and difficulty verifying patient-level outcomes."

The latest funding round was backed by Flare Capital Partners, New Enterprise Associates (NEA), Shuttle Fund, Sanofi Ventures, and Green Bay Ventures.

"Curisium's platform, by enabling outcome verification at the patient level, while automating the payment side, has the potential to rapidly accelerate the breadth and depth of innovative contracting arrangements," said Bill Geary, co-founder and Partner at Flare Capital. "We're thrilled to be an investor partner with the Curisium founding team having successfully backed them before, and are impressed with their deep industry and technology insights and capabilities."

In addition to the funding, Bill Geary of Flare Capital and Mohamad Makhzoumi, General Partner at NEA and Head of Healthcare Services, have joined the Curisium Board of Directors. Milind Kamkolkar, Chief Data Officer at Sanofi, and Greg Papadopoulos, Venture Partner at NEA, have joined Curisium's inaugural Industry Advisory Board. Ruchita Sinha of Sanofi Ventures has been appointed a Board Observer.