Startup HealthVerity pulls in $7.1 million in first round of funding

Philadelphia enterprise aims to harness healthcare data to boost insights for payers, providers and pharma.
By Bernie Monegain
09:02 AM

HealthVerity, which offers technology tools for the discovery and integration of optimal patient data sets, has landed $7.1 million in its first round of funding.

Flare Capital Partners and Greycroft Partners led the Series A funding with participation from other strategic healthcare investors.

Michael Greeley of Flare Capital, Rachel Winokur, an advisor to Greycroft, and Matt Wallach, co-founder and president of Veeva Systems, will join the company's board of directors.

They will use the financing to fund continued development of its privacy and data interoperability technologies, Health Verity executives said.

Health Verity’s technology enables customers to rapidly discover, license and assemble patient data from a wide range of traditional and emerging healthcare data sources that can aid pharmaceutical, hospital and payer organizations seeking to enhance patient insights from existing and new data sources.

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"HealthVerity is focused on addressing the challenges of leading healthcare providers who are awash in clinical and transactional data, but who struggle to unlock the true value of their data assets," CEO Andrew Kress, co-founder of HealthVerity, said in a news release.

"We are solving some very interesting next-generation problems that sit at the intersection of privacy and healthcare data management and access," he added. "Our solutions empower our customers to extract new insights with a more novel, intuitive and efficient approach to building data sets for research and analytics."

As Michael Greeley, general partner at Flare Capital, sees it, HealthVerity “is demonstrating that cutting edge data science, extensive data provider relationships and unique market knowledge can result in  important innovation."