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.
Source: HealthyVerity Inc.