Reed Elsevier Ventures, the corporate venture capital fund of Anglo-Dutch media and information company Reed Elsevier, has led a $10m Series B round into Activate Networks, a provider of network analytics for businesses. There was also involvement from previous backer Excel Venture Management and Premier, a healthcare purchasing network with more than $4bn in annual savings. Activate says its customers are mainly in the Fortune 500.
Tony Askew, general partner at Reed Elsevier Ventures, said: “Reed Elsevier Ventures is committed to investing in companies that can become market leaders. We invest in groundbreaking analytic technologies in healthcare, technology, information, and media. Activate Networks provides an innovative, unique, and proven technology to generate key insights across multiple sectors.”
Larry Miller, chief executive of Activate, said: “The financing will allow us to accelerate our growth and maintain our leading position in network analytics for enterprises as more companies seek to generate value from their existing Big Data, Activate Networks’ software and predictive analytics will provide a unique and highly valuable network ‘lens’.”
Activate, formerly known as MedNetworks, raised $6m in Series A financing led by Excel Venture Management.