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Healthcare data platform startup Truveta raises $95M to build out its platform
Healthcare data platform startup Truveta Inc. revealed today that it has raised $95 million in new funding to hire more people and fund infrastructure and cloud computing resources to build out its platform.
Truveta launched out of stealth mode earlier this year and is led by former longtime Microsoft Corp. executive Terry Myerson. Backed by leading healthcare providers, the company is building an enormous anonymized data set that combines clinical and patient data from each of its health system partners. Truveta aims to create a valuable trove of information that will be made available for what it calls “ethical research.”
The company pitches itself as able to deliver valuable insights from billions of clinical data points with a single search. The Truveta platform enables the health community to learn rapidly from each other and from exabytes of de-identified data, while protecting patient privacy.
As noted in February, what arguably makes Truveta unique is its backers: healthcare providers. Others have tried similarly to build information databases based on healthcare data, but in this case, the company is backed by companies that provide the data needed to make the idea work.
As of its launch, the company was backed by AdventHealth, Advocate Aurora Health, Baptist Health of Northeast Florida, Bon Secours Mercy Health, CommonSpirit Health, Hawaii Pacific Health, Henry Ford Health System, Memorial Hermann Health System, Northwell Health, Novant Health, Providence health system, Sentara Healthcare, Tenet Health and Trinity Health.
Along with the new funding, Truveta also announced that it has added Baylor Scott & White Health, MedStar Health and Texas Health Resources as members.
In the age of the COVID-19 pandemic, the idea of combining data to gain insights is sound and Myerson doesn’t hold back in saying so. “Together, we are hard at work to help researchers find cures faster, empower every clinician to be an expert and help families know they are receiving the best care for their condition,” Myerson said in a statement.
“We are building an unprecedented data platform and learning community for health,” Myerson added. “Our members’ data commitment, clinical expertise and strategic capital will help us achieve our vision.”
Photo: rawpixel/freepik
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