Diameter Health, a healthcare data interoperability platform, raised $18 million in a Series B funding round.
Managed care organization Centene Corporation led the round, with participation from existing investors Optum Ventures, LRVHealth, Connecticut Innovations, and Activate Venture Partners.
The Series B round brings Diameter Health’s total funding to $30 million.
Diameter Health develops a real-time healthcare data exchange platform. According to the company, Veterans Administration, state governments, large health plans, health IT vendors, and life insurance companies use the platform for health data optimization, transforming raw information into the quantity and quality of interoperable data for healthcare organizations. The platform has facilitated over 225 million health information exchanges to date.
Eric Rosow, CEO and co-founder of Diameter Health, said, “This new financing validates that our technology is a valuable component to solving today’s challenges of health data interoperability across an enterprise. Normalizing, enriching, and integrating data across sources is time consuming and expensive. Organizations are using our API to accelerate their own data enterprise time-consuming driving real cost efficiencies and value in closing care gaps, more accurately assessing risk, strengthening underwriting, and ultimately improving patient care and outcomes.”
Diameter Health plans to use the new funds to expand its – FHIR-enabled healthcare data integration engine – Fusion. The company also plans to expand its large network of direct connections between Electronic Health Record systems, Health Information Exchanges, and other healthcare data sources to enable more widespread, seamless, and secure data exchange.
Forty-five health information exchange companies raised over $500 million since 2010, according to Mercom data. Recently, Abacus Insights, an interoperability platform provider that enables health plans and their providers to create a more personalized healthcare experience for consumers, raised $35 million Series B funding. The Boston-based startup, founded in 2017, has raised over $50 million to date.