Health Catalyst has raised $70 million in a round led by existing investor Norwest Venture Partners, with participation of Sequoia Capital, Kaiser Permanente Ventures, Sorenson Capital, CHV Capital (an Indiana University Health Company) and Partners HealthCare. Also participating in the round were new investors Sands Capital Ventures, Tenaya Capital, Epic Ventures and Leavitt Equity Partners.

The capital will be used to fund continued product development investments, particularly in areas of advanced clinical and workflow applications designed to measurably improve clinical and financial outcomes. With the rise of new value-based care models, Health Catalyst’s solutions drive permanent improvements in the efficiency and effectiveness of care delivery and population health.

“As more healthcare organizations are coming to understand, data warehousing and analytics are foundational to their success under new payment and risk models,” said Health Catalyst CEO Dan Burton. “This additional capital will enable Health Catalyst to develop the solutions necessary to offer every health system in the US a roadmap to systematically reduce waste and improve care delivery, across every major clinical and workflow area.”