Tuesday, January 8, 2013

Health Catalyst Raises $33M For Healthcare Data

In what is the second, major venture capital deal to be announced along the Wasatch Front in 2013, Salt Lake City-based Health Catalyst said this morning that it has raised $33M in a Series B funding, which will go towards its platform for managing healthcare data. The startup said the Series B funding round for the company was led by Norwest Venture Partners, and also included Sequoia Capital and Sorenson Capital. Health Catalyst, which is headed by Dan Burton, develops a data warehousing platform being used by hospitals and healthcare systems to better manage their patients. The company said that so far, its systems are being used to help care for more than 20 million patients, for such customers as Allina Health, Indiana University Health, MultiCare Health System, North Memorial Health Care, Providence Health & Services, Stanford Hospital and Clinics, and Texas Children's Hospital. Promod Haque of Norwest Venture Partners joins the company's board with the funding, with Sorenson Capital's Fraser Bullock acting as an observer. The quarter is getting off to a good start for funding startups in Utah; just last week, Clearfield-based Pluralsight raised its own $27.5M funding for its efforts in online education for software developers. The two fundings combined are already more than the total raised by all Utah startups in Q3 of 2012 ($57.4M), the last period that totals have been tallied by the National Venture Capital Association and PwC. More information »