HealthVerity Raises $100M to Scale IPGE Platform, Market-Leading Technology and Real-World Data Infrastructure
JUNE 28, 2021
The Series D round, led by Durable Capital Partners LP, will help scale platform capabilities, enabling secure data exchange across the broadest ecosystem.
PHILADELPHIA, PA — (BUSINESS NEWSWIRE) — HealthVerity announced today the close of $100 million in Series D funding to accelerate the growth of its IPGE (Identity, Privacy, Governance and Exchange) platform. This latest round of funding, led by Durable Capital Partners LP, with participation from all existing investors including Flare Capital Partners, Foresite Capital and Greycroft will help HealthVerity meet the increasing demand for its critical technologies empowering the health insights economy. Beyond accelerating go-to-market initiatives, the financing will fund expansion of the already existing largest real-world data ecosystem and industry-leading patient identity resolution technology.
“We are excited to partner with HealthVerity as it continues to build the next generation of modern technologies that will support the shift towards increased real-world data governance and privacy needs within healthcare,” said Henry Ellenbogen, Managing Partner & Chief Investment Officer at Durable Capital Partners LP. “After witnessing its growth over the past few years, I believe HealthVerity is uniquely positioned to provide solutions for many of the challenges around identity, privacy and governance that will help life sciences, payers and government agencies power secure and private data exchange across an array of patient-centric use cases. It has the potential to be a significant company.”
“Durable’s goal of partnering with high-growth, long-term transformative companies directly aligns with our mission at HealthVerity, where we have been consistent since our inception in our strategy and approach to evolving the healthcare data ecosystem and supporting our clients as they shift towards patient-centricity,” said Andrew Kress, CEO at HealthVerity. “We are so pleased to have them join the HealthVerity team.“
HealthVerity’s IPGE platform provides a unified infrastructure granting more than 250 leading healthcare enterprises and more than 80% of top pharmaceutical companies the ability to confidently leverage the technical capabilities of Identity, Privacy, Governance and Exchange to discover, access and apply real-world healthcare data to a multitude of use cases. Over the past year, HealthVerity’s growth has been accompanied by the selection from the Department of Health and Human Services (HHS) to deliver Privacy Preserving Record Linkage (PPRL) integrated in the COVID-19 vaccine rollout and partnerships with the FDA and NIH on multiple COVID-19 studies.
About Durable Capital Partners LP
Durable Capital Partners LP (“Durable”) is an investment manager focused on companies that have the potential to compound over time. Durable invests across private and public markets with a long-term horizon, applying deep knowledge of compounder patterns to support leaders building durable and sustainable businesses. Henry Ellenbogen, who previously was Portfolio Manager of T. Rowe Price’s New Horizon Fund, founded Durable in 2019.
Pharmaceutical manufacturers, payers, and government organizations have partnered with HealthVerity to solve some of their most complicated use cases through transformative technologies and real-world data infrastructure. The HealthVerity IPGE platform, based on the foundational elements of Identity, Privacy, Governance, and Exchange, enables the discovery of real-world data across the broadest healthcare data ecosystem, the building of more complete and accurate patient journeys and the ability to power best-in-class analytics and applications with flexibility and ease. Together with our partners, HealthVerity has built the modern way to data for the health insights economy. To learn more about the HealthVerity IPGE platform, visit www.healthverity.com.
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