Apervita Nets $18 Million in Series A Funding for Health Analytics
Apervita, Inc. (www.apervita.com), formerly known as Pervasive Health, Inc., the first health analytics marketplace, today announced it has completed an $18 million Series A round of funding. The capital will support its goal of empowering enterprises across the globe to transform health knowledge and data into computable insight, addressing healthcare’s most pressing challenges.
With this funding, Apervita will accelerate the development of its platform, giving health professionals access to thousands of analytics at a fraction of the time and cost of today’s proprietary analytics solutions. The growth capital will also be used to expand Apervita’s sales and marketing team to promote the platform and address growing market demands.
GE Ventures and Baird Capital led the financing round, with participation from Pritzker Group Venture Capital, Math Ventures and existing investors. Apervita, the secure and HIPAA–compliant cloud platform, was developed with seed funding secured in 2013. Since then, the platform has proven effective at scale with providers in the U.S. and U.K., across tens of millions of patient facts and hundreds of users. Apervita was recently named a finalist in the prestigious University HealthSystem Consortium (UHC) and HealthXL innovation competitions.
“Apervita facilitates the capture and diffusion of health insight by making it easier than ever to author, connect and collaborate. The Apervita self-service platform enables authors to share their evidence-based research as computable insights and publish them to a marketplace, allowing users to subscribe, and connect them to their workflow,” said Paul Magelli, founder and CEO of Apervita. “Apervita faces unprecedented demand, and this investment will accelerate our mission to empower the world’s leading community of health professionals to solve thousands of global challenges by connecting their trusted knowledge to practice.”
Apervita’s rapidly growing repository of analytics includes evidenced-based content from top academic medical centers, such as Mayo Clinic. They address many fundamental provider challenges in areas that include chronic disease management, preventable adverse events, readmissions, cancer, early warning, quality and safety. The portfolio will soon expand to include operational and financial areas as well.
One algorithm developed at Mayo Clinic allows physicians to utilize the Apervita platform to analyze information stored in medical records, identifying high risk patients in most need of an implantable cardiac defibrillator.
“By combining marketplace economics, cloud computing and light-touch streaming implementation, Apervita will fundamentally change the way healthcare is delivered,” said Noah Lewis, managing director of healthcare at GE Ventures. “Their innovative business model aligns perfectly with our vision for data-driven, predictive healthcare, and we look forward to helping them scale through this next stage of expansion.”
Apervita is the leading health analytics community, where together with prominent health professionals from around the globe, the world’s health knowledge is being transformed into 1,000s of point of care health analytics.
We believe that medical researchers have already created the greatest wealth of health knowledge that has ever existed. Unfortunately, the vast majority is paper-based or locked into silo systems. The Apervita analytics community is already unleashing them, turning them into computable and shared analytics. They address some of health’s biggest challenges, such as the 100,000s of patients that die prematurely every year in the United States from chronic disease, complications, and preventable adverse events.
Apervita is a secure self-service platform that enables health professionals to connect health datasets; author evidence-based algorithms and measures; share and publish insights to a marketplace of the world’s largest community of health analytics. Accessible to every health professional, powerful enough for the entire health enterprise, Apervita provides health analytics at a tenth of today’s cost, in a hundredth of the time.
For more information, visit www.apervita.com.
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital and opportunities for commercialization through GE’s global network of business, customers and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing and development resources in over 100 countries. For more information, please visit www.geventures.com.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Baird Capital’s Venture Capital team invests in early and growth stage technology-enabled services and healthcare companies. Having invested in more than 280 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.bairdcapital.com.
About Pritzker Group Venture Capital
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides multi-stage venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Venture Capital helps entrepreneurs build market-leading technology companies at every stage of their growth. Since its founding in 1996, the firm has worked side-by-side with entrepreneurs at more than 100 companies, building partnerships based on trust and integrity. The firm’s proprietary capital structure allows for tremendous flexibility, and its experienced team of investment professionals and entrepreneurs offers companies a vast network of strategic relationships and guidance. Successful exits in recent years include Fleetmatics, SinglePlatform (acquired by Constant Contact), Zinch (acquired by Chegg), Playdom (acquired by Disney), LeftHand Networks (acquired by Hewlett-Packard), and TicketsNow (acquired by Ticketmaster). For more information, visit www.pritzkergroup.com.
About MATH Venture Partners
MATH Venture Partners is an early to middle-stage fund managed by a seasoned team of hand’s-on investors and operators. The fund focuses on entrepreneurial teams who have a deep appreciation and exceptional talent built into their core DNA around customer acquisition. MATH forms deep and personal partnerships with entrepreneurs. Our team has built and scaled many large companies to successful exits. We wade in there, elbow to elbow with our entrepreneurs to create material and long-lasting value. Let’s build something great together.