HealthVerity announces $25 million in Series C funding

Philadelphia. 3rd April 2019 – HealthVerity, the trusted foundation for the rapid creation, exchange and management of healthcare and consumer data, today announced its closing of $25 million in Series C funding led by existing investor Foresite Capital with participation from Flare Capital Partners, Greycroft Partners and other existing investors.

The new capital will support continued growth and investment in HealthVerity’s technology platform and go-to-market activities.

The close follows a record 2018 performance during which HealthVerity expanded its customer base to more than 100 of the top pharmaceutical manufacturers, health insurance payers, pharmaceutical services firms and healthcare services organisations.

The company’s success was bolstered by the rapid customer adoption of HealthVerity Census, a SaaS solution for activating, de-identifying and linking data across the enterprise and beyond, HealthVerity Marketplace, a cloud platform for discovery and licensing of broad scale healthcare and consumer data in a privacy-protecting manner, and HealthVerity Consent, a blockchain-driven platform for managing patient and consumer permissions in an immutable and auditable manner.

“The widespread digitisation of medical records offers one of the best opportunities to transform patient care and improve the lives of millions,” says Jim Tananbaum, CEO and Managing Director of Foresite Capital. “By building technologies that solve long standing challenges in the way that data can be organised, linked and licensed, HealthVerity has significantly enhanced the insights available on the patients and members of its valued customers. We are excited to support its next phase of growth.”

As part of the transaction, Tananbaum will join the HealthVerity board of directors.

Blank Rome served as legal advisor to HealthVerity in this transaction.