Texas-based ClearDATA, a healthcare-exclusive cloud provider with expertise in the security and compliance space, has secured $26 million in its latest funding round.
Health insurer Humana, and Health Care Service Corporation (HCSC), which operates Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma and Texas, participated in the new financing round. Returning investors included Norwest Venture Partners, Merck GHIF, Excel Venture Management, Heritage Group, HLM Venture Partner and Flare Capital Partners.
With this new round of funding, the company intends to expand product innovation and enhance its customer success capabilities in order to drive growth.
ClearDATA aims to modernizes healthcare with its cloud computing platform and services, enabling healthcare organizations to use the powerful public cloud environments to deliver fast, agile, and reliable IT as well as protects healthcare data by ensuring ultra-secure and compliant IT environments.
“ClearDATA is working successfully to address the rapid IT evolution in healthcare,” said Darin Brannan, ClearDATA’s chief executive officer. “We’re incredibly pleased to partner with seasoned investors and industry leaders who share our vision for transforming the complex process of innovating in healthcare to improve patient outcomes like never before,” Brannan added.
“Maintaining our growth and thought leadership to serve more customers requires continuous investments in systems, tools, processes, and talent to better support our next phase of growth, and ultimately help our customers innovate and evolve faster. Strategic investors have a vested interest in helping us maintain this thought leadership position, and we are incredibly grateful for their support,” he said.
Brian LeClaire, chief information officer, Humana, said: “At Humana, we are leveraging contemporary technology and infrastructure to advance our integrated care delivery model. Increasingly, we are using the computing and analytic power and scalability of the public cloud to accelerate our ability to deliver better outcomes and experiences to our members and providers.”
Sahil Choudhry, executive director, corporate development & venture investments at HCSC, added: “There is a pressing need for new, innovative solutions to advance privacy, security and compliance in the healthcare industry, particularly as more and more data are created and analyzed. ClearDATA provides automated safeguards that protect patient information and also provides a compelling economic value that may help dramatically lower the cost of operations.”
ClearDATA, Healthcare, Clout, IT, Funding, Humana, Health Care Service Corporation, US