Datavant, the leader in helping life sciences and healthcare organizations safely connect their data while protecting patient privacy, today announced $40 million in Series B funding, bringing Datavant’s cumulative fundraising to $83 million. The round was led by Transformation Capital, with participation by new investors Johnson & Johnson Innovation – JJDC, Inc. and Cigna Ventures, as well as participation by existing shareholders Roivant Sciences and Flex Capital. This investment will support Datavant as it continues to expand the open healthcare data ecosystem and reduce the friction in the exchange and linking of healthcare data.
“Datavant’s mission is to connect the world’s health data to improve patient outcomes. The fragmentation of health data across institutions holds back every part of medical research and patient care,” said Travis May, Founder & CEO of Datavant. “By making it safe and easy to connect data across institutions, Datavant aspires to accelerate medical research, improve clinical trials, and ultimately enhance patient care. We have already seen real-world data make a clear difference in our understanding of the current public health crisis, and we believe that real-world data will accelerate our understanding and ability to treat other diseases.”
Datavant provides technology to help data holders manage the privacy, security, compliance, and trust required to enable safe data exchange. Datavant’s technology is used by more than 350 institutions to enable them to de-identify their data sets, which are then seamlessly linkable to other data sets within the Datavant ecosystem.
“As the digitization of healthcare has generated a massive amount of data, data silos have proliferated, limiting the utility of this valuable real-world data. Datavant’s solutions, together with its partner ecosystem, solves the data fragmentation challenge for clients across the healthcare continuum. We were impressed with Datavant’s ubiquity across both health data sources and health data users today, and we are thrilled to help accelerate the company’s mission,” said Mike Dixon, Managing Partner at Transformation Capital.
Datavant has seen remarkable momentum over the past year, including:
Datavant’s ecosystem of more than 350 institutions comprises:
Datavant’s mission is to connect the world’s health data to improve patient outcomes. Datavant works to reduce the friction of data sharing across the healthcare industry by building technology that protects the privacy of patients while supporting the linkage of de-identified patient records across datasets. Datavant is headquartered in San Francisco. Learn more about Datavant at www.datavant.com.
About Transformation Capital:
Transformation Capital (http://transformcap.com/) works in partnership with commercial stage digital health and technology-enabled services companies serving stakeholders across the healthcare system. We are focused on driving transformation in the healthcare system by providing entrepreneurs and management teams with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. The firm has over $800M in assets under management and has invested in 15 innovative companies across two funds.
About Roivant Sciences:
Roivant Sciences aims to improve health by rapidly delivering innovative medicines and technologies to patients. Roivant does this by building Vants – nimble, entrepreneurial biotech and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization. For more information, please visit www.roivant.com.
About Cigna Ventures:
Cigna Ventures is a venture capital fund that works closely with health care entrepreneurs to accelerate growth and innovation through the strategic use of capital and deep partnerships. Cigna Ventures is a wholly-owned indirect subsidiary of Cigna Corporation (NYSE: CI). To learn more about Cigna Ventures visit: www.cignaventures.com.
About Flex Capital:
Flex Capital is an early-stage venture capital firm designed for founding software CEOs. Flex is founded by repeat founding CEOs who are still running businesses today and have operating experience from inception to exit. Flex believes the best value-added investors are current operators of technology companies, who can share cutting-edge best practices. Flex is rethinking the traditional venture capital norms around partner engagement, ownership requirements, board seats, and control. For more information, visit: www.flexcapital.com
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