Redox Raises $45 Million for Healthcare Data Exchange Platform

Redox, which enables the development and distribution of healthcare software solutions with a full-service integration platform to exchange healthcare data, raised $45 million in Series D funding. Private equity firm Adams Street led the round.

Redox has now raised $95 million to date. The company plans to use the new funds to accelerate product innovation and hire new talent to meet its health data integration platform’s demand.

Redox enables data sharing across a network of over 1,400 healthcare delivery organizations and 350 independent software vendors. According to the company, Members of the Redox Network exchange more than 12 million patient records per day. The Redox solutions can be integrated with more than 55 electronic health record systems, the company said.

“2020 will be seen as an inflection point in digital health, as necessity brought five years of innovation forward into a single year,” said Luke Bonney, co-founder and CEO of Redox. “But we couldn’t have reached this point in our collective growth without the consistent dedication and creativity of our team, our customers, and our partners.”

“Our mission is simple: to make the world’s healthcare data useful. We want patients to feel empowered in their healthcare experience. We do that by making it easy for the best digital health applications to scale integration seamlessly across our national network of connected providers.”

Forty-five health information exchange companies have 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. Diameter Health, a healthcare data interoperability platform, raised $18 million in a Series B funding round.