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Healthcare analytics company Clarify Health is planning to use the $115 million it recently raised to grow its business.
The San Francisco-based company announced Tuesday that it completed a Series C funding round led by Insight Partners, along with Spark Capital, Concord Health Partners and HWVP. The company’s largest investor KKR also participated.
With the new funds, Clarify Health will invest in scaling its self-service healthcare analytics cloud and business applications.
Clarify Health’s platform includes longitudinal data sets, linking government and commercial claims, EHRs, prescriptions and social and behavioral data. Users can conduct analyses and create visualizations on the platform to test out their hypotheses.
“Having elevated the usability of these data to a standard suitable for machine learning, we have been able to generate more than 18 billion artificial intelligence-powered predictions that have helped organizations improve the care of over 65 million patients and members,” said Dr. Jean Drouin, CEO of Clarify Health, in an email.
Different healthcare stakeholders can use the company’s technology to meet their specific needs. For example, health systems can use the platform to glean insights on patients’ care needs, health plans can assess competitors’ efficiency and quality metrics and referral patterns, and pharma companies can identify mis-and undiagnosed patients, he said.
“We have created a single healthcare insights cloud that serves all of healthcare,” Drouin said. “Building at this scale requires continual investment to ingest, clean and enrich new and refreshed data and to quickly spin up new software applications that meet the industry’s fast-changing needs.”
Though there is no dearth of healthcare analytics platforms on the market — with a wide range of companies offering these solutions, from Health Catalyst to Apixio — Clarify Health incorporates social determinants of health data to inform decision-making, which is a key point of differentiation, Drouin said.
“Clarify offers a differentiated platform that is proven in the market,” said Will Reed, general partner at Spark Capital, in a news release. “Its team and technology are changing how insights are generated and consumed across our healthcare system — lowering costs, increasing efficiency, and improving outcomes in the process. We are excited to help accelerate the impact of Clarify’s innovation.”
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