Health Catalyst, a US-based developer of data analytics for the healthcare industry, raised $70m from investors including healthcare providers Partners HealthCare and Kaiser Permanente today.
Venture capital firm Norwest Venture Partners led the round, which included Sequoia Capital, Sorenson Capital, Sands Capital Ventures, Tenaya Capital, Epic Ventures, Leavitt Equity Partners and CHV Capital, a subsidiary of healthcare system Indiana University Health Company.
Health Catalyst has built an enterprise data warehouse platform that helps healthcare providers carry out reporting and analysis for their clinical, financial, and organisational operations.
The company will invest the funding in product development, with a particular focus on advanced clinical and workflow applications.
Dan Burton, chief executive of Health Catalyst, said: “As more healthcare organisations are coming to understand, data warehousing and analytics are foundational to their success under new payment and risk models.
“This additional capital will enable Health Catalyst to develop the solutions necessary to offer every health system in the US a roadmap to systematically reduce waste and improve care delivery, across every major clinical and workflow area.”
Health Catalyst has now raised $152m over its past three rounds. Kaiser Permanente, CHV, Norwest, Sequoia and Sorenson have all been backers since the company’s $41m series B round in 2013.