Verana Health (formerly DigiSight), a healthcare technology company focused on curating and analyzing real-world clinical data, announced the close of a $100 million investment round. GV (formerly Google Ventures) led the financing round with participation from New investors Bain Capital Ventures, Casdin Capital, and Define Ventures.
Verana also acquired the technology assets of PYA Analytics, a provider of AI-powered data architecture and analytical solutions for healthcare, commercial, and government organizations.
PYA Analytics was founded in 2013 by scientists and engineers from Oak Ridge National Laboratory, a science and technology laboratory in the United States.
“PYA Analytics is a data science company that develops state-of-the-art products for data linking and analysis,” said Dr. Brian Worley, Co-founder, and CEO of PYA Analytics, in a company press release. “We are thrilled to join Verana to enrich these extraordinary clinical databases and find answers to some of the most pressing challenges in medicine.”
In 2018, Verana Health raised $30 million in Series C financing round, which was also led by GV, with participation from existing investors.
“Verana Health is building the team and technology to unlock deep clinical insights that support the development of new treatments while increasing our understanding of how these treatments can benefit patients more broadly,” said Dr. Krishna Yeshwant, General Partner at GV, in a press release. “Under the leadership of its strong management team, Verana continues to redefine how we approach medical research.”
The Verana Health platform aggregates regulatory-grade datasets through its partnership with medical associations, the American Academy of Ophthalmology, and the American Academy of Neurology. The company curates and analyzes de-identified electronic health records-derived data to advance medical research and patient care in the areas of ophthalmic and neurologic diseases.
“Verana Health is building the team and technology to unlock deep clinical insights that support the development of new treatments while increasing our understanding of how these treatments can benefit patients more broadly,” said Dr. Krishna Yeshwant, General Partner at GV. “Under the leadership of its strong management team, Verana continues to redefine how we approach medical research.”
Healthcare Data Analytics companies received $1.6 billion in 2019 compared to $2.1 billion in 2018. Since 2013, Healthcare Data Analytics companies have raised $6.2 billion, according to Mercom Q4 and Annual 2019 Digital Health Report.
