Healthcare data provider Iqvia led a $40m series C round for US-based healthcare analytics platform developer Cota on Wednesday that included health insurer Horizon Blue Cross Blue Shield of New Jersey.
The round also featured care provider Hackensack Meridian Health, cancer researcher Memorial Sloan Kettering Cancer Center, growth equity firm EW Healthcare Partners, Boston Millennia Partners and Atoc Holdings.
Founded in 2011, Cota has created a disease categorisation and analysis platform based on its proprietary Cota Nodal Address digital classification methodology.
The software relies on a real-world dataset and is intended to precisely categorise diseases as well as patient factors and possible treatments. It is used by healthcare providers, life sciences companies and insurance firms.
Iqvia has taken a seat on Cota’s board of directors through its investment. Jon Resnick, the corporate’s president of real-world and analytics solutions, said: “We are excited to support Cota’s unique oncology analytic environment and real-world data capabilities.
“We have been investing in applying data science to accelerate drug development, ensure patient access to innovative therapies, and make value and outcomes more transparent to align all healthcare stakeholders. Investing in Cota is consistent with that vision.”
Cota received $3.7m in a 2014 series A round led by Horizon Blue Cross and Blue Shield of New Jersey that also featured healthcare analytics services firm Med-Metrix and cancer care provider Regional Cancer Care Associates.
Boston Millennia Partners joined pharmaceutical companies Celgene and Novartis, genomic oncology data supplier Foundation Medicine and management consulting firm HealthScape Advisors for an $18m series B round that closed in late 2016.