US-based healthcare management software producer ClearData has closed a $26m funding round featuring pharmaceutical firm Merck & Co and health insurance providers Humana, Heritage Group and Health Care Service Corporation (HCSC).
The round also featured venture capital firms Norwest Venture Partners (NVP), HLM Venture Partners, Excel Venture Management and Flare Capital Partners, while Merck invested through its Global Health Innovation (GHI) fund.
ClearData has created a cloud computing platform that enables care providers to protect and manage data and applications. The funding will be used to expand its services, customer support and sales and marketing capabilities.
Brian LeClaire, Humana’s chief information officer, said: “Increasingly, we are using the computing and analytic power and scalability of the public cloud to accelerate our ability to deliver better outcomes and experiences to our members and providers.
“That is why we chose to be both a customer of, and investor in, ClearData. The company’s singular focus on healthcare, leading technology, seasoned team and commitment to security paired with innovation make them a clear leader in this emerging and vital space. We are excited about our partnership and the company’s prospects.”
The round boosted ClearData’s overall funding to more than $80m. Merck GHI, NVP, Excel Venture Management, Heritage Group, HLM and Flare Capital all invested in its last round, in which it raised $12m in April 2017.
The same six investors had previously provided $25m in series C funding for the company in 2015. It followed a $14m series B round that included Merck GHI, Excel Venture Management and NVP officially closed at the same time as a $3.4m round initiated in 2012, according to a securities filing.
