News | June 10, 2015

ClearData Raises $25 Million in Series C Financing to Fuel Growth

Funding will be used to maximize growth of healthcare cloud provider

ClearDATA, Series C Financing, $25 million, cloud, investors

June 10, 2015 - ClearDATA announced the close of an over-subscribed $25 million Series C funding round with contributions from Heritage Group, HLM Venture Partners and Flare Capital Partners. The company also received contributions from existing investors Norwest Venture Partners, Merck Global Health Innovation Fund and Excel Venture Management. The investment will be used to maximize the cloud company's growth in the market for health information technology cloud computing, supporting its fourth consecutive year of 100+ percent year-over-year subscription revenue growth.

A number of factors are fueling investor interest, including industry analyst forecasts that the U.S. cloud computing market will grow at a healthy rate of 20-30 percent each year for the next five years. In a report published October 2014, Frost & Sullivan estimated the total U.S. healthcare cloud market revenue at $900 million. ClearDATA projects IT cloud penetration in the U.S. healthcare industry will grow to 50 percent in the next four to five years, representing approximately $6.5 billion of a $13 billion market for multi-cloud computing and managed services.

As an example, over the past year, ClearDATA was named North American Healthcare Cloud Leader for 2014 by Frost & Sullivan, acquired several marquee customers, achieved Common Security Framework Certified status from the Health Information Trust Alliance (HITRUST), and opened new offices in San Francisco and San Antonio. The company is also introducing major new products to address multi-cloud workloads such as its Healthcare Managed Services on Amazon Web Services, providing enhanced healthcare specialization, security and compliance, and manageability.

Healthcare IT infrastructure is aged, fragmented, and not built to house and manage large-scale data sets - and internal IT staff are stretched too thin to keep at bay the constant onslaught of data breaches. ClearDATA solves this problem by modernizing and managing infrastructure with its HealthDATA Cloud and software-as-a-service (SaaS) HIT Cloud Management platform. In the process, the company secures and protects patient health information in a HIPAA-compliant environment for data interoperability, aggregation and access. ClearDATA's ongoing development of its SaaS HIT Cloud Management Platform aims to simplify the management of complex IT infrastructures by providing a single interface to manage and monitor resources in real-time across multiple platforms. This enables healthcare organizations to benefit from greater transparency, enhanced application and network security, and compliance.

For more information: www.cleardata.com

Related Content

RaySearch Laboratories AB will demo its latest advances in oncology software at the American Society for Radiation Oncology (ASTRO) 2020 Annual Meeting
News | Radiation Oncology | October 23, 2020
October 23, 2020 — RaySearch will present recent and upcoming enhancements, as well as new functionality, in...
Rensselaer, First-Imaging, and GE Global researchers develop a deep neural network to perform nearly as well as more complex dual-energy CT imaging technology
News | Computed Tomography (CT) | October 20, 2020
October 20, 2020 — Bioimaging technologies are the eyes that allow doctors to see inside the body in order to diagnos
The use of CT and X-ray in the assessment and treatment plan for President Trump underscores the critical role that medical imaging must play in the fight against COVID-19

A COVID-19 chest CT heat map from RADlogics

News | Artificial Intelligence | October 13, 2020
October 13, 2020 — Given recent high-profile cases of...
Visual technology company, EIizo, has showcased its work with the world-renowned National Gallery, after monitors from its ColorEdge product line were used to document and investigate part of its extensive collection.
News | Flat Panel Displays | October 08, 2020
November 8, 2020 — Visual technology company, EIizo, has showcased its work with the world-renowned...