HealthVerity Completes Series B Financing of $10 Million
HealthVerity Marketplace now in use in 8 of the top 10 Pharmaceutical Manufacturers and 2 of the top 3 Contract Research Organizations.
PHILADELPHIA, PA — April 25, 2017
HealthVerity, Inc., the leading cloud platform for the discovery, licensing and linking of broad scale healthcare data, today announced it has secured $10 million in Series B financing led by Flare Capital Partners and Greycroft Partners with participation from Foresite Capital and additional strategic healthcare investors. HealthVerity will use the financing to fund continued expansion of its healthcare data ecosystem, advanced privacy solutions and proven data interoperability technologies.
HealthVerity Marketplace now offers linkable HIPAA-compliant de-identified healthcare data on more than 300 million individuals in the United States from over thirty national healthcare data suppliers providing medical claims, prescription claims, lab results, electronic medical records and other significant data types. The company’s platform includes powerful self-service tools that enable users to build custom datasets by understanding and selecting relevant data sources, identifying counts of target patients and exploring longitudinality across multiple sources. HealthVerity Marketplace further supports simplified data licensing that eliminates many of the industry’s challenges in delivering the right data at the right time for advanced analytics and patient insights.
“HealthVerity Marketplace is delivering transparency and open access for healthcare data that is transforming the way clients source key data for analytics,” said Matt Wallach, co-founder and president of Veeva Systems. “The company’s disruptive solutions for data sourcing improve the cost and accuracy of many types of important healthcare initiatives.”
“With our new release of HealthVerity Marketplace, we are demonstrating the speed and efficiency with which our customers can build and license bespoke datasets that meet the demanding requirements of commercial analytics and real world evidence solutions,” said Andrew Kress, co-founder and chief executive officer of HealthVerity. “We are grateful to Flare and Greycroft for their continued support of the company’s objective to transform the way data is made available for research, and to Foresite Capital for their new support.”
“HealthVerity Marketplace is achieving impressive traction with leading pharmaceutical companies who see the value in HealthVerity’s data access model,” said Michael Greeley, co-founder and partner at Flare Capital. “The company is changing the way early-adopter customers architect their healthcare data acquisition strategies by eliminating the barriers to accessing and developing insights across high value data assets.”
Ian Sigalow, co-founder and partner at Greycroft Partners said, “We are excited to be providing additional growth capital to HealthVerity as they build the industry’s most relevant ecosystem of healthcare data suppliers. As new data types such as genomics rise in importance, the company’s partnering model enables suppliers to responsibly make their data interoperable and available for use in research and analytics in a privacy-compliant manner.”
HealthVerity, Inc., based in Philadelphia, is a leading provider of technologies and software tools for the discovery and integration of optimal patient data sets. We work with Pharmaceutical, Hospital and Payer customers to maximize the insights from their data supplier relationships. 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.
About Foresite Capital
Foresite Capital provides growth capital to emerging healthcare leaders with disruptive products and services across all healthcare sectors in both the private and public markets. The firm is based in San Francisco with an office in New York. For more information, please visit www.foresitecapital.com.
Source: HealthyVerity Inc.