Health Catalyst gets $70M to expand its outcomes improvement solutions

HealthCatalyst

Salt Lake City-based Health Catalyst has raised $70 million in Series E funding co-led by Norwest Venture Partners, the lead investor in three previous rounds, and UPMC, which also happens to be a Health Catalyst customer. Also participating in the funding were Leerink Capital, Sequoia Capital, Sands Capital, Kaiser Permanente Ventures, CHV Capital, Partners HealthCare, EPIC Venture Partners, Leavitt Equity Partners and Tenaya Capital. The fresh capital will be used to support expansion of the company’s outcomes improvement solutions for healthcare organizations.

Health Catalyst has developed an enterprise data warehouse (EDW) and analytics platform that helps improve quality, adds efficiency and lowers cost in support of more than 65 million patients for organizations. The company’s adaptive data model is described as agile, flexible, and relatively quick to implement.

Health Catalyst is now going beyond data aggregation and analysis to include real-time data production and decision support to its offering.Health Catalyst is now going beyond data aggregation and analysis to include real-time data production and decision support to its offering. Later this year, the company expects to launch new solutions for activity-based costing, care management, and real-time clinical decision support.

“Our new products, funded by this round, will enable better, faster decisions, from the population level to the individual patient level,” CEO Dan Burton said in a statement.

Health Catalyst has doubled its bookings backlog, doubled its revenue, nearly doubled its customer footprint and increased the number of team members nationwide from approximately 230 to over 400. Last year, it has acquired Health Care DataWorks, as well as important intellectual property from customers such as Allina Health, Partners HealthCare, and UPMC.