Truveta, a digital health startup building a platform that researchers can use to analyze de-identified and normalized health data contributed by the member organizations, closed a $95 million Series A funding round.
The company’s health systems, including its three latest members Baylor Scott and White Health, MedStar Health, and Texas Health Resources, contributed to the funding round.
According to the company, the investment will support the hiring of technologists and health data experts and cover the infrastructure and cloud-computing resources necessary to make the Truveta platform a reality.
“I’m inspired by the commitment from our 17 health provider members to join Truveta to save lives with data,” said Terry Myerson, CEO of Truveta.
“Together, we are hard at work to help researchers find cures faster, empower every clinician to be an expert, and help families know they are receiving the best care for their condition. We are building an unprecedented data platform and learning community for health. Our members’ data commitment, clinical expertise, and strategic capital will help us achieve our vision. We invite others to join us.”
Today, clinical health data is often inaccessible, fragmented, and unstructured, which challenges doctors and patients to learn from data collected from patient care. Truveta’s data analytics platform will deliver valuable insights from billions of clinical data points with a single search. According to the company, the platform will enable the health community to learn rapidly from each other and exabytes of de-identified data while carefully protecting patient privacy.
“For more than 20 years as a clinical researcher, I have dreamed of being able to use de-identified data to quickly answer critical questions that immediately advance the health of our patients,” said Dr. Neil Weissman, chief scientific officer of MedStar Health. “I’m so proud our team is joining Truveta and excited for the opportunity to transform how we conduct research and advance health with ethical and intelligent use of data.”
Healthcare Data Analytics companies raised $1.5 billion in the first half of 2021. VisiQuate, a provider of AI-powered advanced analytics solutions to healthcare providers and medical device makers, announced a new $50 million equity investment from Sixth Street Growth.