US-based healthcare data platform developer H1 completed a $58m series B round yesterday that included DRx Capital, the joint investment venture formed by pharmaceutical firm Novartis and mobile chipmaker Qualcomm.
Venture capital firms IVP and Menlo Ventures co-led the round, which also featured Transformation Capital, Lux Capital, Lead Edge Capital and YC Combinator.
H1’s cloud-based data repository covering some 16,000 healthcare organisations, 700 medical societies, 350,000 clinical trials and 160 million peer-review publications, utilising data science technology to provide insight for practices such as marketing or commericalisation.
Menlo Ventures led a $12.9m series A round in April this year that reportedly took the company’s total funding to nearly $20m, investing alongside DRx Capital, Y Combinator, Liquid 2 Ventures, Underscore VC, ClearPoint Investment, Baron Davis Enterprises and Jeff Hammerbacher.
Ariel Katz, co-founder and CEO of H1, said: “This next round of funding, with our excellent investment group, including Menlo who has been a great partner for us, will help us continue to become the largest healthcare professional platform and ultimately create a healthier future.”