Philadelphia, PA-based rapid creation, exchange, and management of healthcare and consumer data platform, HealthVerity has bagged USD25 million in Series C funding round to support continued growth and investment in its technology platform and go-to-market activities. The funding round was led by existing investor Foresite Capital with additional participation from Flare Capital Partners, Greycroft Partners, and other existing investors. The latest round follows a record 2018 performance during which HealthVerity expanded its customer base to over 100 of the top Pharmaceutical Manufacturers, Pharmaceutical Services firms, Health Insurance Payers, and Healthcare Services organizations.
Incepted in the year 2014, HealthVerity transforms the way data-led organizations make decisive decisions. Its Marketplace is a private Cloud-based platform which allows its customers to explore, license, and link HIPPA-compliant and de-identified patient data across the broadest range of top tier data providers. Ahead of the funding round existing investor Foresite Capital CEO and Managing Director Jim Tananbaum stated that the widespread digitization of medical records offers one of the best opportunities to transform patient care and improve the lives of millions. By building technologies that solve long-standing challenges in the way that data can be organized, linked and licensed, HealthVerity has significantly enhanced the insights available on the patients and members of its valued customers. We are excited to support HealthVerity’s next phase of growth, he added.
HealthVerity has two primary customers –buyers and data providers, wherein healthcare service organizations like Pharmaceutical Manufacturers, Payers, Hospitals, and Retail Pharmacies includes as customers. On the data providers end, it comprises firms looking at expanding distribution or maintains better control of the licensing of de-identified healthcare data for research purposes.