Google Ventures, the corporate venturing arm of internet company Google, has led a $130m series B round raised by Flatiron Health, the US-based developer of a software platform for clinical cancer data.
Medical testing company Laboratory Corporation of America and venture capital firm First Round Capital, both of which like Google were investors in Flatiron’s January 2013 series A round, also participated in the round.
Andrew Conrad, a director at Google X, will join Google Ventures general partner Krishna Yeshwant on Flatiron Health’s board of directors in conjunction with the funding.
“It’s rare to find a team of the calibre assembled by Flatiron Health that combines pragmatic insights from the healthcare industry with the deep technical insight of the IT industry,” Yeshwant said yesterday. “They are working on one of the biggest problems in healthcare, and their progress has been nothing short of stunning to date.”
Google Ventures also led Flatiron’s $8m series A round, which also featured Great Oaks Capital, The Social+Capital Partnership, SV Angel, IA Ventures and undisclosed angel investors.
Founded in 2012, Flatiron’s OncologyCloud platform gives doctors, cancer research centres and pharmaceutical companies access to a wide range of data that had previously been restricted to doctors’ note and electronic medical records.
Flatiron will use part of the funds to acquire Altos Solutions, a US-based creator of OncoEMR, a web-based oncology software system for electronic medical records, for an undisclosed amount.
The purchase will give Flatiron an increased base of point-of-care data for its system, and will eventually see OncoEMR integrated with OncologyCloud, though Altos will continue to operate independently. Flatiron plans to expand its software platform beyond oncology from 2015.