Skip to main content

Healthcare data integration startup Abacus Insights lands $12.7M Series A

Abacus Insights, an early stage startup that wants to help coordinate healthcare information across systems, announced a $12.7 million Series A investment today led by CRV. Existing investors 406 Ventures and Echo Health Ventures also participated in the round.

The company is trying to make it easier for health insurance companies to share data with various parties in the healthcare system with the ultimate goal of lowering costs and helping participants across the system from doctors to pharmacists and other healthcare practitioners have a better understanding of the overall patient record.

Company founder and CEO Dr. Minal Patel says they chose insurance companies as the target customer for their solution because they have a greater understanding of a person’s overall healthcare as everything flows through them for payment.

“We launched in 2017 with the purpose of helping our clients, who are typically large health insurance companies, liberate all the data they sit on so that they can help their members become healthier and have better experience with the overall health care system,” he said.

The platform is essentially a data integration play tuned specifically for the healthcare industry. Trying to pull data from the variety of legacy systems in place across the different players in healthcare is challenging, and that’s the problem the company is trying to solve.

“Abacus makes gathering a patient’s healthcare history simpler for insurance companies by using a data management platform that houses their complete medical history in one place. Making it easier for both insurance companies and healthcare providers to look at a patient’s data in real-time and make better medical decisions to treat the patient in the best way possible,” a company spokesperson explained.

The startup has offices in Boston and New York and currently has 40 employees. Using some of the money from this round, it hopes to double that by the end of the year, particularly adding engineering talent to build out the product further.



from Startups – TechCrunch https://tcrn.ch/2QyoTTd
Labels:

Comments

Post a Comment

Popular posts from this blog

Thousands of cryptocurrency projects are already dead

Two sites that are actively cataloging failed crypto projects, Coinopsy and DeadCoins , have found that over a 1,000 projects have failed so far in 2018. The projects range from true abandonware to outright scams and include BRIG , a scam by two “brothers,” Jack and Jay Brig, and Titanium , a project that ended in an SEC investigation. Obviously any new set of institutions must create their own sets of rules and that is exactly what is happening in the blockchain world. But when faced with the potential for massive token fundraising, bigger problems arise. While everyone expects startups to fail, the sheer amount of cash flooding these projects is a big problem. When a startup has too much fuel too quickly the resulting conflagration ends up consuming both the company and the founders and there is little help for the investors. These conflagrations happen everywhere are a global phenomenon. Scam and dead ICOs raised $1 billion in 2017 with 297 questionable startups in the mix. The
Post a Comment
Read more

Dance launches its e-bike subscription service in Berlin

German startup Dance is launching its subscription service in its hometown Berlin. For a flat monthly fee of €79 (around $93 at today’s exchange rate), users will get a custom-designed electric bike as well as access to an on-demand repair and maintenance service. Founded by the former founders of SoundCloud and Jimdo , the company managed to raise some significant funding before launching its service. BlueYard led the startup’s seed round while HV Capital (formerly known as HV Holtzbrinck Ventures) led Dance’s €15 million Series A round, which represented $17.7 million at the time. E-bike subscription service Dance closes $17.7M Series A, led by HV Holtzbrinck Ventures The reason why Dance needed so much capital is that the company has designed its own e-bike internally. Called the Dance One, it features an aluminum frame and weighs around 22kg (48.5lb). It has a single speed and it relies on its electric motor to help you go from 0 to 25kmph. And the best part is that you
Post a Comment
Read more