Validic secures $12.5m series B funding
May 12, 2015
Digital health company Validic has secured a $12.5m series B round led by Kaiser Permanente Ventures, the corporate venture capital arm of Kaiser Permanente. The funding is to fuel the North Carolina company’s growth.
Since launching in 2010, Validic has grown its client population reach to over 160 million lives in 47 countries and now integrates with more than 175 fitness and clinical devices and applications. It continues to add clients in various healthcare segments powering patient data integration, including pharmaceuticals, healthcare providers, insurance companies, and wellness and healthcare technology companies. Two of those leading healthcare technology companies are Cerner and Meditech, both of which are using the Validic platform to integrate mobile health and in-home clinical device data into patient portals.
"Kaiser Permanente Ventures is committed to partnering with entrepreneurs to advance clinical quality, service and affordability," said Jordan Kramer, director of Kaiser Permanente Venture. "Leveraging technology to engage consumers and transform healthcare is a key priority for us. Validic fits well with that strategy."
Validic provides a cloud-based, digital health platform for convenient and quick access to patient data from in-home clinical devices, wearables and patient healthcare applications.
"With millions of individuals now using wearables, applications and clinical in-home devices to track and manage their health, it is more important now than ever that these data are accessible to healthcare providers,” saidRyan Beckland, CEO and co-founder of Validic. “We have built an enterprise digital health platform to power this integration for healthcare companies allowing them to focus on driving their core technologies and programmes, which are going to be vital to the future success of healthcare. With this investment, we will continue to build out our team and product offerings to fuel the utilisation of digital health data to transform healthcare."
With access to secure and verified patient-generated data, leveraging Validic's platform, healthcare organisations can better tackle patient engagement, population management, predictive analytics, improved outcomes, care coordination and cost-reducing initiatives.
The scalable and FDA class I MDDS technology delivers actionable, standardised and HIPAA-compliant consumer health data from mobile health devices and applications. Validic was recognised for healthcare innovation by Gartner and received Frost & Sullivan's best practices and best value in healthcare information interoperability award.