Explorys, a US-based provider of healthcare databases spun out from Cleveland Clinic, has raised $11.5m in its series C round.
Venture capital firms Austin Ventures and Foundation Medical Partners, which has a strategic limited partnership affiliation with Cleveland Clinic where the hospital is a cornerstone investor and helps its portfolio comapnies, co-led the round. It is the second spin-off from Cleveland Clinic Foundation has invested in.
They were joined by return backers Santé Ventures and Cleveland Clinic Innovations, a corporate venture-style investor on behalf of the non-profit academic medical centre in Ohio.
Toby Cosgrove, executive president of Cleveland Clinic, said: "Healthcare and the economy are in the midst of historical realignments. Organizations that leverage their clinical data to improve care, speed innovation, and reduce delivery costs will shape the future of medicine in this country."
In August, Explorys raised $2.55m in its series B round from Cleveland Clinic Innovations and Santé Ventures.
Santé, which was founded by the former corporate venturing team at medical group Ascension Health, led the B round.
Founded in 2009 with $1m in its series A round, Explorys has healthcare providers providing more than a billion clinical records, which are updated on a daily basis. Its network of healthcare systems include Cleveland Clinic, MedStar, Summa Health System, MetroHealth and University Hospitals.
Cleveland Clinic and 23Bell Innovations, an invention capital fund led by Explorys co-founders Stephen McHale and Charlie Lougheed, provided the A round in October 2009.