HealthVerity Raises $100 Million in Series D Funding
Healthcare data management provider HealthVerity this week announced that it has raised $100 million in Series D funding, which brings the total raised by the company to $142 million.
Founded in 2014, the Philadelphia-based company provides the IPGE (Identity, Privacy, Governance and Exchange) platform, which healthcare enterprises and pharmaceutical companies can use to access and manage healthcare data.
Officially launched at the end of May 2021, HealthVerity claims its IPGE platform is used by over 250 healthcare companies and more than 80% of top pharmaceutical organizations. The integrated technology and real-world data infrastructure solution enables high-governance, privacy-compliant data exchange across the healthcare ecosystem.
Furthermore, the Department of Health and Human Services (HHS) has selected HealthVerity for integrating Privacy Preserving Record Linkage (PPRL) in the COVID-19 vaccine rollout, while the FDA and NIH have partnered with the company on multiple COVID-19 studies.
The new funding, HealthVerity says, will help accelerate the growth of the IPGE platform and will also support go-to-market initiatives.
The funding round was led by Durable Capital Partners LP, but also received participation from existing investors, such as Flare Capital Partners, Foresite Capital, and Greycroft.
“Durable’s goal of partnering with high-growth, long-term transformative companies directly aligns with our mission at HealthVerity, where we have been consistent since our inception in our strategy and approach to evolving the healthcare data ecosystem and supporting our clients as they shift towards patient-centricity. We are so pleased to have them join the HealthVerity team,” Andrew Kress, CEO at HealthVerity, said.