WIN and Harbright Invest Over $500K in Lumata to Save Eyesight

FOR IMMEDIATE RELEASE

Raleigh, NC—November 25th, 2024 —The Wolfpack Investor Network (WIN) and Harbright Ventures are thrilled to announce an additional investment in Lumata Health, Inc. (Lumata), bringing their total investment to over half a million dollars. Lumata operates an ophthalmology care management platform dedicated to preventing blindness and supporting patients with chronic eye conditions.

According to the Centers for Disease Control and Prevention, vision and eye problems are increasing as the US population ages, affecting over 90M Americans aged 40 and older —  60% of the over-40 population.

Without effective interventions by 2050:

• Cases of diabetic retinopathy will rise by 72%
• Cataracts will increase by 87%
• Glaucoma and age-related macular degeneration will double
• Vision impairment and blindness will surge by 150%
• The economic burden of vision problems will soar by 157%, reaching $373B

Lumata’s human-led, intelligent eye care management platform addresses the critical challenge of preventing vision loss from chronic eye conditions like glaucoma, diabetic retinopathy, macular degeneration, and dry eye. Acting as a remote extension of in-clinic staff, the platform identifies and removes complex barriers to treatment adherence, enabling patients to maintain eye health. While these conditions cause irreversible damage, Lumata helps slow disease progression in 95% of cases through effective monitoring and treatments, including injections, surgery, laser therapy, eye drops, and oral medications — ultimately reducing the risk of blindness.

NC State Mechanical and Aerospace Engineering professor Landon Grace is currently on sabbatical to focus on Lumata’s growth as its CEO. His leadership at Lumata and academic expertise reflect NC State’s commitment to driving innovative solutions.

“The investment from WIN and Harbright enables us to expand our reach and accelerate our mission to prevent vision loss on a national scale,” said Landon Grace, CEO of Lumata. “We are committed to leveraging cutting-edge technology and data science to deliver the highest level of care coordination, and with WIN’s support, we’re one step closer to eliminating preventable blindness.”

Founded in 2017, Lumata has rapidly enrolled thousands of patients and operates in 33 states, up from 6 in 2022. The company is also piloting and expanding its services with some of the nation’s largest multicenter eye care practices, covering more than 600 locations and 1K physicians. Clinics using Lumata Health’s platform and care support services have achieved a remarkable 60% reduction in delayed appointments. Recently, Lumata secured a 30-month agreement with one of the world’s largest pharmaceutical companies.

“We are proud to support Lumata in their mission to combat preventable blindness,” said John Leachman, partner at Harbright Ventures. “Landon Grace’s leadership and the company’s innovative approach to care coordination represent the future of healthcare, and we’re excited to be part of their journey.”

This investment underscores WIN’s commitment to high-impact startups tied to NC State. WIN is excited to support Lumata as it transforms chronic eye disease management.