US-based healthcare data services provider Health Catalyst closed a $100m series F round yesterday featuring healthcare and insurance provider UPMC and care consortium Kaiser Permanente.
The round was led by investment firm Orbimed and included Sequoia Capital, Norwest Venture Partners, Sands Capital Ventures and Brent James, chief quality officer of health system Intermountain Healthcare, who joined Health Catalyst as strategic adviser last year.
UPMC and Kaiser Permanente contributed through respective corporate venturing units UPMC Enterprises and Kaiser Permanente Ventures. The round consisted of equity and debt financing, though a ratio was not disclosed, and valued Health Catalyst at more than $1bn.
Health Catalyst’s platform, Health Catalyst Data Operating System (DOS), links healthcare data from sources such as electronic health records and insurance claims, and analyses it to help clients such as hospitals drive clinical, financial and operational improvements.
The capital will support the company’s continuing expansion into life sciences and a growing array of analytics applications built atop DOS. The cash will also go toward continued international expansion efforts.
Health Catalyst has secured more than $320m in total funding since it was founded in 2008, having received $70m in a series E round co-led by UPMC Enterprises and venture capital firm Norwest Venture Partners (NVP) in 2016.
Kaiser Permanente Ventures and care providers MultiCare Health System, OSF Healthcare and Partners HealthCare also contributed to the series E round alongside CHV Capital, a subsidiary of care system Indiana University Health.
Leerink Capital, Sequoia Capital, Sands Capital, Epic Venture Partners, Leavitt Equity Partners and Tenaya Capital filled out the round.
NVP had already led a $70m series D round in 2015 that included Partners HealthCare, Kaiser Permanente, CHV Capital, Sequoia, Sorenson Capital, Sands Capital, Tenaya, Epic and Leavitt Equity Partners at a $500m valuation.
The company had previously raised $41m in a two-tranche series B round in 2013 featuring Kaiser Permanente, NVP, Sorenson Capital and CHV.
