Private equity partnership Boston Millennia Partners has joined a corporate-backed funding round for US-based healthcare informatics and analytics technology developer Cota that now totals $18m.
Cota raised an undisclosed sum in the first tranche of the round, which closed in May 2016, the company securing funding from pharmaceutical firms Celgene and Novartis, molecular information provider Foundation Medicine and health management consultancy HealthScape Advisors.
Founded in 2011, Cota provides, classifies and analyses healthcare data, converting it into a digital code that combines patient factors, conditions and possible treatments to predict which will be most effective.
Eric Schultz, chief executive of Cota, said: “The company has made great progress on an exciting mission. We have enjoyed strong revenue growth and rapid adoption of our products across multiple markets.”
Health insurance provider Horizon Blue Cross and Blue Shield of New Jersey had led a $3.7m round for Cota in 2014 that included healthcare analytics supplier Med-Metrix and oncology treatment provider Regional Cancer Care Associates.