Health Catalyst Raises $41 Million Series C For Healthcare Data Hosting and Visualization

1-28-2014 8-54-14 PM

Salt Lake City-based data analytics vendor Health Catalyst announces a $41 million Series C funding round today, contributed by existing investors Sequoia Capital, Norwest Venture Partners,  Kaiser Permanente Ventures, Sorenson Capital, CHV Capital (an Indiana University Health Company) and Partners HealthCare. The new funds follow a $41 million Series B round closed in February 2013, and brings Health Catalyst’s total raised to $100 million since its 2008 launch.

Health Catalyst is delivering data warehousing and visualization to some of the nations largest health systems through a uniquely designed database that allows it to extract and then query EHR data faster than either Oracle or IBM. This has led to a tangible market advantage for Health Catalyst. Last year while working on a project at Indiana University Health, the company captured 14 billion rows of data in just 90 days, the same amount of work could have taken five years to complete using a traditional enterprise warehousing structure and phased implementation approach.

Once stored, Health Catalyst provides tools to help organizations extract operational intelligence from their data. At Texas Children’s Hospital, the IT department was able to stop building reports from its EHR database, creating reports directly from within its data warehouse instead. The process was nearly four times faster than building reports out of the EHR, and resulted in a 67 percent average savings on reporting related labor costs.

Once Health Catalyst warehouses data, it provides standardized dashboard overlays to help customers spot trends, and measure improvements within their facilities. MultiCare Health System in Tacoma, Washington was able to reduce sepsis mortality rates by 22 percent over the course of 12 months driven by analysis of care variation across its facilities.

The company was founded by Steve Barlow and Dan Burton, who worked together at Intermountain Healthcare building a custom data warehouse, before leaving together to start their own business.

In 2013, Health Catalyst’s booking increased five times to $45 million, and the company expects bookings to double during 2014.  Three of its investors: Indiana University Hospital, Kaiser Permanente, and Partners Healthcare, are also customers. KLAS named Health Catalyst the highest scoring enterprise data warehousing vendor, describing them as a “newer and more effective way to approach EDW.”

The new funding will be spent developing 200 analytics applications that will help Health Catalyst customer target a variety of different quality or efficiency targets, zeroing in on shortcomings and expediting the return on their investment.

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