Zephyr hits $17.5M round led by Google
Analytics firm Zephyr Health, a San Francisco-based startup that bills itself as an "insights-as-a-service" company for the healthcare industry, closed on a $17.5 million third round of funding, led by Google Ventures.
Current investors Kleiner Perkins Caufield & Byers and Icon Ventures also participated in the round. Zephyr has received $33.5 million funding to date.
"At Google Ventures, we look for companies that work at the intersection of data science and healthcare," said Blake Byers, general partner at Google Ventures, in a news release. "Zephyr Health is at the forefront of healthcare analytics. Zephyr integrates thousands of public and private data sources to provide deep, predictive insights that enable customers to accelerate time to market for drugs, diagnostics and devices."
Google Ventures was founded in 2009. Among its 300 investments are Uber, Kabam, Flatiron Health, Cloudera and DocuSign.
On average it costs pharmaceutical companies between $1.5 and 2.4 billion to bring a new therapy to market, with only 33 percent of those products meeting their initial sales goals, Zephyr executives point out.
Zephyr Health customers include Fortune 100 Genentech, Gilead, Medtronic, Onyx and Amgen. They use the Zephyr's Illuminate technology to improve business results across the product lifecycle. The solution's proprietary algorithms link data from thousands of disconnected sources to generate predictive insights.
[See also: Advanced analytics: All systems go.]
"At Zephyr Health we have a strong team, and proven solutions for leading pharmaceutical and medical device companies," said William King, the company's founder and CEO, in a press statement. "With the support of Google Ventures, along with KPCB and Icon, we look forward to a collaborative partnership that will allow us to tap into their vast resources of knowledge and experience, helping us to further expand our business with new products and in new areas."