Smile CDR Raises $20 Million for Healthcare Data Exchange Platform

Smile CDR, an FHIR-based healthcare data exchange platform, announced the closing of $20 million in Series A growth capital led by 30 North Group, a Seattle-based family office, and UPMC Enterprises.

The company plans to use the latest capital infusion to develop a new healthcare clinical data management platform that extends beyond interoperability. The company works with more than 23 payers across the U.S., including insurers and health plans across the Americas, EMEA, and APAC.

Smile CDR offers a software suite that allows health information interoperability between health systems, payers, and hospitals.

According to the company, the software suite allows clinicians to make standards-based models, giving non-technical subject matter experts the ability to create automatable, visual clinical guidelines and pathways, display extensive patient records from electronic health records systems, and secure a human-like AI interface for patients and clinicians to access and interact with their medical records.

“Smile CDR has seen significant growth in our core clinical data repository offering around the FHIR standard in the past year, and today we partner with some of the largest health systems and insurers in North America,” said Duncan Weatherston, Chief Executive Officer at Smile CDR. “We have a bold vision for the future of healthcare, and this new round of funding will allow us to explore new innovations that can continue to add value, improve care and save money.”

“Up until this point, we’ve succeeded by focusing our expertise on developing groundbreaking products that help payers and providers achieve successful interoperability of health information,” said Weatherston. “The broad and successful move towards interoperability has created new opportunities for innovation that simply didn’t exist in a system where information was not securely connected or portable. We now have the ability to build on that progress to create new products that move beyond interoperability and bring even more value to the market.”

Digital Health companies raised $15 billion in the first half (1H) of 2021. Funding activity increased by 138% during 1H 2021, compared to $6.3 billion raised in 1H 2020.