ClearData, which moved to Austin from Arizona last year, has raised $12 million to expand its health care cloud services and software business.
Founded in 2011, the company provides cloud computing services to health care companies, helping them store and protect patient data and other applications.
Investors in the deal include Merck Global Health Innovation Fund, Norwest Venture Partners, Excel Venture Management, Heritage Group, HLM Venture Partners and Flare Capital Partners.
All of the investors previously participated in ClearData’s prior $25 million financing.
In February 2016, ClearData announced it would move its headquarters from Tempe, Arizona to Austin. At the time, the company said it would have a total of 100 jobs in the Austin area, 80 of which would be new jobs. It did not receive any economic incentives to move to Austin.
James Windrow, a senior vice president at ClearData, told the Statesman the company chose Austin “because of its central location, reputation for top technology talent and vibrant, affordable live/work environment.”
Today, more than 350,000 healthcare professionals use the ClearData cloud, which is compliant with HIPAA federal privacy regulations. The company says its software protects sensitive healthcare data using compliance and security safeguards, which are backed by managed cloud services.
ClearData CEO Darin Brannan said that while the move to digital healthcare is in full swing, healthcare organizations want to stay focused on patients and healthcare rather than being IT security or cloud compliance experts.
“Combining the technology aspect of the cloud with the healthcare aspects of compliance, security and regulatory support has resulted in continued market traction with 98 percent year-over-year growth in our core subscription services,” he said.
Bill Geary, co-founder and partner at Flame Capital Partners, said ClearData’s ability to address a broad set of needs is allowing it to move into multiple healthcare market.
The company’s software offerings are getting customer traction “with leading payers, providers and life sciences organizations, who no longer seek to just host their data in the cloud. Now organizations are seeing they can use the cloud to aggregate massive data sets for quality predictive analytics, to collaboratively conduct clinical research and to scale virtual care, patient engagement and more,” he said.
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