HealthVerity Completes Series A Financing of $7.1 Million
Unlocking the value of patient data with innovative technology and tools.
Philadelphia, PA — April 21, 2016
HealthVerity, a leading provider of technologies and software tools for the discovery and integration of optimal patient data sets, today announced it has secured $7.1 million in Series A financing led by Flare Capital Partners and Greycroft Partners with participation from additional strategic healthcare investors. Additionally, Michael Greeley of Flare Capital, Rachel Winokur, an advisor to Greycroft, and Matt Wallach, co-founder and president of Veeva Systems, Inc., will join the company’s board of directors. HealthVerity will use the financing to fund continued development of its privacy and data interoperability technologies.
HealthVerity is developing an important set of proprietary technologies and software tools that enable its customers to rapidly discover, license and assemble patient data from a wide range of traditional and emerging healthcare data sources. The company’s solutions are proving to be critical to the success of Pharmaceutical, Hospital and Payer organizations that are seeking to enhance patient insights from existing and new data sources. “HealthVerity is focused on addressing the challenges of leading healthcare providers who are awash in clinical and transactional data, but who struggle to unlock the true value of their data assets,” said Andrew Kress, co-founder and chief executive officer of HealthVerity. “We are solving some very interesting next-generation problems that sit at the intersection of privacy and healthcare data management and access. Our solutions empower our customers to extract new insights with a more novel, intuitive and efficient approach to building data sets for research and analytics.”
“Healthcare providers are keenly aware of the power of complementing existing patient data with targeted third party sources. HealthVerity is demonstrating that cutting edge data science, extensive data provider relationships and unique market knowledge can bring important innovation to a critical segment of the healthcare industry,” said Michael Greeley, general partner at Flare Capital. “HealthVerity’s team has created the culture, technologies, tools, and infrastructure to succeed in this exciting endeavor.”
Ian Sigalow, co-founder and partner at Greycroft Partners said, “HealthVerity is shifting an industry by giving healthcare providers the technologies and software tools to discover new insights from previously siloed patient data. HealthVerity is very well positioned to take the lead in making this happen.”
“We are pleased by the significant interest in our Series A financing and are honored to have such a great group of financial and strategic investors to accelerate our progress,” said Kress.
HealthVerity, Inc., based in Philadelphia, a leader in cloud solutions for networked data, enhances the transparency, connectivity, privacy and cost efficiency of traditional and emerging healthcare data. We leverage innovative technologies to help our clients discover, license and link data inside their Enterprise and across the widest range of top tier data providers. We empower customers to gain new perspectives on patient activity while ensuring complete privacy management and HIPAA compliance. For more information, visit www.healthverity.com.
About Flare Capital Partners
Flare Capital is a team of proven healthcare technology venture capital investors known for their unparalleled strategic industry resources, insight and total commitment to the success of its entrepreneurs. Flare Capital raised one of the industry’s largest dedicated venture capital funds focused exclusively on early stage and emerging growth investments in healthcare technology innovation and is privileged to closely partner with founders and management. Selected investments include Bright Health, Iora Health, Valence Health and Welltok, in addition to a strategic partnership with Rock Health, a leading healthcare technology incubator seed fund based in Silicon Valley. Learn more at www.flarecapital.com.
About Greycroft Partners
Greycroft Partners is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world – New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $600 million and has made over 100 investments since inception. For more information please visit the Greycroft Partners website at www.greycroft.com.
Source: HealthyVerity Inc.
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