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

Guerbet, IBM Watson Health Partner on Artificial Intelligence for Liver Imaging
News | Clinical Decision Support | July 10, 2018
Guerbet announced it has signed an exclusive joint development agreement with IBM Watson Health to develop an...
Developing a “cloud-first” strategy has helped with efficiency and cost savings
Feature | Archive Cloud Storage | July 05, 2018 | By Greg Freiherr
The need to protect patient images and other clinical data from disasters is increasing, just as doing so is getting...
FDA Clears Bay Labs' EchoMD AutoEF Software for AI Echo Analysis
Technology | Cardiovascular Ultrasound | June 19, 2018
Cardiovascular imaging artificial intelligence (AI) company Bay Labs announced its EchoMD AutoEF software received 510(...
News | Remote Viewing Systems | June 14, 2018
International Medical Solutions (IMS) recently announced that the American College of Radiology (ACR) added IMS'...
Wake Radiology Launches First Installation of EnvoyAI Platform
News | Artificial Intelligence | June 13, 2018
Artificial intelligence (AI) platform provider EnvoyAI recently completed their first successful customer installation...
How AI and Deep Learning Will Enable Cancer Diagnosis Via Ultrasound

The red outline shows the manually segmented boundary of a carcinoma, while the deep learning-predicted boundaries are shown in blue, green and cyan. Copyright 2018 Kumar et al. under Creative Commons Attribution License.

News | Ultrasound Imaging | June 12, 2018 | Tony Kontzer
June 12, 2018 — Viksit Kumar didn’t know his mother had...
Zebra Medical Vision Unveils AI-Based Chest X-ray Research
News | Artificial Intelligence | June 08, 2018
June 8, 2018 — Zebra Medical Vision unveiled its Textray chest X-ray research, which will form the basis for a future
Konica Minolta Launches AeroRemote Insights for Digital Radiography
Technology | Analytics Software | June 07, 2018
Konica Minolta Healthcare Americas Inc. announced the release of AeroRemote Insights, a cloud-based, business...
Vinay Vaidya, Chief Medical Information Officer at Phoenix Children’s Hospital

Vinay Vaidya, Chief Medical Information Officer at Phoenix Children’s Hospital

Sponsored Content | Case Study | Artificial Intelligence | June 05, 2018
The power to predict a cardiac arrest, support a clinical diagnosis or nudge a provider when it is time to issue medi
How image sharing through a health information exchange benefits patients while saving time and money is depicted in this slide shown at HIMSS 2018. Graphic courtesy of Karan Mansukhani.

How image sharing through a health information exchange benefits patients while saving time and money is depicted in this slide shown at HIMSS 2018. Graphic courtesy of Karan Mansukhani.

Feature | Information Technology | June 05, 2018 | By Greg Freiherr
A regional image exchange system is saving lives and reducing radiology costs in Maryland by improving the efficiency
Overlay Init