Health Catalyst, a US-based data warehousing and analytics company, has closed a $41m series C funding round, from existing investors Kaiser Permanente Ventures, healthcare company Kaiser Permanente’s corporate venturing unit, together with Sequoia Capital, Norwest Venture Partners, Sorenson Capital, CHV Capital (an Indiana University Health Company) and Partners HealthCare.
The funding brings the total amount raised by Health Catalyst to nearly $100m. Previously, in March 2013, Health Catalyst extended its series B round by $8m from two corporate venturing units. In December 2012, Health Catalyst raised $33m from venture capital firms Sequoia Capital and Sorenson Capital and Norwest Venture Partners, which led the round. In September 2011, Sequoia led Health Catalyst’s A round of undisclosed size.
Kaiser Permanente Ventures, the corporate venturing unit of the eponymous healthcare system, and CHV Capital, which invests on behalf of Indiana University Health, the eponymous US state’s largest healthcare system formerly known as Clarian Health, provided the B round extension.
The investment enables Health Catalyst to build out its healthcare analytics platform. The company plans to invest $50m in product development over the next 24 months, including production of the next 200 clinical applications on its roadmap.
Dan Burton, Health Catalyst chief executive officer, said: “This additional capital will enable Health Catalyst to develop the applications necessary to offer every health system in the US a roadmap to systematically reduce waste and improve care delivery, across every major clinical and workflow area.”