Pivotal Analytics, a provider of healthcare analytics solutions, raised $10.2 million in Series A funding.
According to the company, one of the largest owner-operators of medical office buildings in the United States led this investment, with participation from three existing investors.
The company plans to use the funds to expand its development efforts, which includes growing its library of top-tier data partners and proprietary algorithms and redesigns the user experience to support different user types, and scale up talent and tools in areas needed for growth, including product development and engineering.
According to Pivotal, the company’s business intelligence platform offers strategic healthcare analytics solution that empowers healthcare organizations, developers, REITs, consultants, and other healthcare facility experts to better predict care supply and demand in specific target markets.
“Pivotal integrates specialized healthcare and real estate data in unique ways to deliver strategic insights and a better perspective for healthcare opportunities,” said Carl Davis, CEO, and co-founder of Pivotal Analytics. “It’s extremely validating to have industry leaders recognize the value of our platform, and we are thrilled to benefit from their advice and experience as we help our customers make better real estate and operational decisions.”
“In addition, we can’t emphasize enough how important it is to us that Pivotal customers were major contributors to this round,” said Fady Barmada, President and co-founder of Pivotal Analytics. “It means so much to know the users and buyers of our solutions are also willing to invest resources and time to help us bring the Pivotal vision to market faster.”
Healthcare Data Analytics companies secured $1.5 billion in venture capital funding from 33 funding rounds in the first half (1H) of 2021, according to Mercom’s 1H 2021 Digital Health Funding and M&A Report. Covera Health, a cloud-based healthcare quality analytics platform focused on reducing medical errors, raised $25 million in Series C funding.
