US-based healthcare data management platform developer Abacus Insights has closed a $12.7m series A round that included corporate venturing partnership Echo Health Ventures.
Echo Health Ventures, formed by healthcare provider Cambia Health Solutions and health insurer Blue Cross Blue Shield of North Carolina’s Mosaic Health Solutions unit, joined venture capital firm CRV, which led the round, and .406 Ventures.
Founded in 2017, Abacus has built a cloud-based data integration platform that allows health insurance providers to collate and share patient data with stakeholders in healthcare systems, such as doctors and pharmacists.
Abacus founder and CEO Minal Patel said: “This investment will help propel us forward as we continue to scale the company, adding talented professionals who are looking to make a difference tackling one of the thorniest problems facing our healthcare system.”
The startup has not disclosed any previous funding, though it said Echo Health Ventures and .406 Ventures took part in the round as existing investors.