Protenus, a US-based provider of healthcare data compliance software, has raised $11m in a series B round co-led by Kaiser Permanente Ventures, the corporate venturing subsidiary of healthcare consortium Kaiser Permanente.
F-Prime Capital Partners, a venture capital arm of financial services group Fidelity, co-led the round, which included Cognosante Ventures, a corporate venturing subsidiary of health IT services provider Cognosante, as well as Arthur Ventures and LionBird Venture Capital.
Protenus has developed a software platform that utilises artificial intelligence to analyse any contact with a patients’ health records by employees, doctors or contractors, auditing all access to ensure it is authorised and appropriate.
The company will use the series B funds to expand its sales, customer support and research and development teams as it prepares to expand the platform’s capabilities. It has raised approximately $19m in funding in total, according to press releases and securities filings.
Kaiser Permanente Ventures led a $3m extension to the company’s series A round in July 2017, adding to an initial $4m from Cognosante, LionBird, Arthur Ventures, DreamIt Ventures, Baltimore Angels and Tedco the previous year.