Evariant lands $42.3M in new funding

Company known for its healthcare CRM platform
By Bernie Monegain
09:14 AM
money piles

Evariant, which offers a CRM platform for healthcare providers, raised $42.3million in a Series C round of financing. Goldman Sachs led the funding, with participation from Series A and B financing leads Health Enterprise Partners and Lightspeed Venture Partners.

Jason Kreuziger from Goldman Sachs, has joined the Evariant Board of Directors.

Evariant offers an end-to-end healthcare customer relationship management, or  CRM, platform that helps health systems attract profitable patient volume and connect patients with providers around their care in new value-based healthcare delivery models. Healthcare systems are attracted to this seamless platform of software and analytics solutions that reduce the overall cost of care and deliver a better patient experience, Evariant executives say.

With this latest round of funding, Evariant will focus on growing its engineering, services and customer success teams, expanding its healthcare provider footprint. The company recently opened its fourth office in Austin, Texas, which functions as the company's technology hub.

[See also: Healthcare IT startups to watch]

"It's no secret that healthcare systems are facing a variety of complex market challenges," Evariant CEO William Moschella said in a press statement. "These issues are not going to be solved by a collection of point solutions, but rather by an integrated platform that can scale and address the healthcare markets' analytics and CRM needs of today and tomorrow."

"Our advances with big data and streaming analytics will yield significant market advantages to our customers," Moschella added.

"We aim to invest in companies that are market leaders and solve major healthcare pain points by rethinking a traditional approach," Jason Kreuziger, a vice president in the Merchant Banking Division of Goldman Sachs, said in a news release.

"With over 600 hospitals and six out of the top 10 health systems as customers, Evariant has clearly demonstrated to the healthcare provider market they are the leaders and innovators to watch," he added. "The company has transformed many classic marketing and business development models by providing superior software products and customer experiences, leveraging sophisticated big data technology."

[See also: Digital Guardian nabs $66 million for cybersecurity.]

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