US-based healthcare data software provider Health Gorilla received $50m yesterday in a series C round backed by insurance firm Nationwide’s corporate venturing unit, Nationwide Ventures.
Venture capital firm SignalFire led a round that also featured Epsilon Health Investors, which invests on behalf of health systems Guthrie, Hartford HealthCare, HonorHealth, Northern Light Health and Woman’s Hospital, in addition to VC firm IA Capital.
Founded in 2014, Health Gorilla operates a cloud-based data interoperability platform that allows stakeholders across the healthcare system including care providers, patients and labratories, to exchange aggregated clinical data. The latest round brings its total funding to $80m, it said.
The company will use the funding to speed up its product development, grow its team and boost its go-to-market activities. It claims to have experienced an increase of 200% in its committed annual recurring revenue last year along with an 87% bump in its customer base, while doubling its headcount.
Nationwide Ventures co-led Health Gorilla’s $15m series B round with IA Capital in March 2021, investing with Aflac Corporate Ventures, a subsidiary of supplemental insurance provider Aflac, as well as Epsilon Health Investors and True Ventures. It had previously secured $8.2m in a 2018 series A round featuring undisclosed investors.
Health Gorilla’s chief operating officer, Karla Mills, said: “This round of funding will be followed by a concentrated push to bring on industry-leading talent across the organisation.
“We already have various exciting opportunities available and will have a strong focus on expanding our sales, marketing, engineering, business development and product teams throughout the year.”
