US-based medical software company Navigating Cancer secured $10m on Thursday in a series C round round led by Merck Global Health Innovation Fund, a corporate venturing subsidiary of pharmaceutical company Merck.
Orix Healthcare Capital, a division of financial services conglomerate Orix, and venture capital firm Rustic Canyon Partners also contributed to the round.
Founded in 2008, Navigating Cancer operates a web-based service that enables patients, doctors, oncologists and hospitals to manage medical information about a patient’s condition and progress.
The company focuses on cancer clinics that serve more than a million patients, and has also developed an app for patients to help manage their medications. It will use the funding to further develop its platform and add additional features.
Rustic Canyon and an unnamed angel investor previously funded Navigating Cancer’s $3m series A round in 2011, after Rustic Canyon invested $2m in 2009. Western Technology Investment provided $2.3m in debt financing in 2012.
Gena Cook, CEO and co-founder of Navigating Cancer, said: “Oncology is moving quickly to value-based medicine, and the need for a comprehensive patient solution for cancer programmes is increasingly becoming a core need.
“With this funding, we will accelerate our pace in delivering the most comprehensive solution in the marketplace.”