Provider of clinical integration, population health and value-based care solutions Valence Health secured $15 million in growth equity investment in a round led by Heritage Group, a Nashville-based VC. Also participating in the round were Foundation Medical Partners, GE Ventures, and existing investor – North Bridge Growth Equity.
The company CEO’s Phil Kamp sees the investment as a way for the organization to serve even more provider organizations more quickly. “We’ve been steadily growing and investing in our infrastructure since our inception in 1996,” said Kamp. “This latest round of investment allows us to accelerate our efforts to reach more providers who are pursuing various approaches to value-based care. More specifically, we will use the funds to invest in additional software development, sales and marketing, and client management resources.”
Previously, Valence took $30 million in the summer of 2012. It has added more than 150 employees this year, and will move to a new national headquarters in Chicago. The company’s H1 2014 revenues were up 51% compared to same period in 2013.