Providence Ventures, the strategic investment arm of care provider Providence Health & Services, has supplied an undisclosed amount of series A financing for US-based healthcare data analytics provider Trilliant Health.
The company had raised an amount in August 2018 indicated by a regulatory filing to be $12m from Noro-Moseley Partners, Martin Ventures, Nashville Capital Network and NueCura Partners. The filing stated the round had a $14.4m target for its close.
Founded in 2017, Trilliant has created a data analytics platform that helps healthcare systems effectively utilise data in their operations by combining information covering insurance claims with household and user data secured from marketing.
The software can also assist in activities such as mergers and acquisitions, market growth strategies and new business development. Tilliant will use the funds to expand its data science and technology teams and add new features to the product.
Providence Ventures senior partner Jeff Stolte said: “Trilliant Health turns analytics into highly differentiated insights and intelligence to help healthcare providers better understand their individual market dynamics.
“As is typical of our investment model, we built conviction around this investment by closely observing our Providence St Joseph Health operating colleagues select Trilliant, based on its unique differentiation and the company’s strong partnership orientation.”