Roche Venture Fund, the corporate venturing arm of pharmaceutical firm Roche, and venture capital firm Canvas Ventures led a $10.5m round for US-based healthcare analytics provider Viewics.
Financial services firm City National Bank also took part in the round. Simon Meier, an investment director at Roche Venture Fund, will join Viewics’ board of directors.
Viewics’ platform is used by clinical, financial, executive and IT professionals in the healthcare sector to extract and analyse data in order to help their departments run more smoothly and efficiently. It will use the new financing to expand its analytics and management technology.
Dhiren Bhatia, co-founder and chief executive of Viewics, said: “Hospitals, health systems and accountable care organisations are under intense pressure to improve patient outcomes while reducing costs.
“The value-based market is changing how these organizations track, measure and report performance. Our customers recognise this shift, and are using Viewics’ solutions to achieve these goals across their organisations and patient populations.”
Viewics raised an undisclosed amount from Canvas Ventures, Morado Venture Partners, AME Cloud Ventures and angel investor Farzad Nazem before adding $8m in an October 2014 round led by Canvas Ventures.