|By Marketwired .||
|January 8, 2013 07:01 AM EST||
SALT LAKE CITY, UT -- (Marketwire) -- 01/08/13 -- Health Catalyst (formerly Healthcare Quality Catalyst), the leader in healthcare data warehousing, today announced it closed $33 million in Series B funding, led by Norwest Venture Partners (NVP), with participation from Sequoia Capital (Series A lead investor) and Sorenson Capital. The Health Catalyst platform brings a new paradigm to the rapidly growing market for healthcare performance improvement, enabling hospitals and health systems of any size to better manage the coming cuts in Medicare and Medicaid rates, and more easily shift to managing patient populations under new care models.
Health Catalyst has more than doubled in size in each of the past three years while expanding its product line from eight stand-alone solutions to a platform of more than 40 integrated products. The company's agile, healthcare-specific data warehousing platform is utilized in the care of more than 20 million patients, including at Allina Health, Indiana University Health, MultiCare Health System, North Memorial Health Care, Providence Health & Services, Stanford Hospital and Clinics, and Texas Children's Hospital. In the last year, a majority of Health Catalyst's existing clients have dramatically expanded their original relationships with the company as a result of the rapid return on investment from their initial work together.
CLICK TO TWEET: #EDW Health Catalyst Announces $33 Million funding round led by @NorwestVP, and @Sequoia_Capital.
As part of this Series B investment, Promod Haque, managing partner at Norwest Venture Partners (NVP), will join the board of Health Catalyst, with Fraser Bullock, co-founder and managing director of Sorenson Capital, participating as a board observer.
"Almost every hospital and hospital system will need a data warehouse to organize, visualize and utilize its data to address the $750 billion of waste in the U.S. healthcare system," said NVP's Haque. "Health Catalyst not only offers a best-in-class solution to meet this growing need, but it boasts a stellar list of referenceable customers with quantifiable results and a pipeline of health systems that are demanding the company's solutions. The management team collectively brings more than 340 years of successful healthcare data warehouse experience to the table and has done a stellar job building an outstanding company and technology platform. We look forward to partnering with the team to help grow the company further."
Dan Burton, CEO of Health Catalyst, said, "Health Catalyst is well-positioned to continue to partner with the country's largest and most advanced health systems, as well as offer smaller health systems and individual hospitals a turnkey solution using the same platform and architecture. We are grateful for the market validation of the effectiveness of our platform and we will be using the funding to continue to invest deeply in our technology, services, and people to support our clients in their continued progression towards being data driven organizations."
Health Catalyst's technology platform meets the need for more effective data management and analytics capabilities as health systems are required to adjust to new shared-risk payment models. Hospitals of all sizes can better leverage their investments in electronic health records (EHRs) to more effectively measure quality outcomes, meet regulatory and financial incentive reporting requirements, standardize around the best, safest care practices, and eliminate waste.
Developed by healthcare and data warehousing veterans, Health Catalyst's platform is designed for integrating and analyzing complex operational, financial, clinical, and research data. Health Catalyst's approach has helped large, integrated delivery networks and smaller hospitals alike improve quality outcomes while simultaneously realizing millions of dollars in cost savings from improvements in areas such as length of stay, readmission rates, reduction in unnecessary procedures and prevention of patient injury.
"The market has reached a clear inflection point. While most large healthcare organizations have crossed the first hurdle to capture medical records electronically, many are still struggling to turn that information into real improvements," said Michael Dixon, partner at Sequoia Capital and a Health Catalyst board member. "Health Catalyst is helping their clients overcome these challenges and harness their data to save money, meet compliance needs, and most importantly, improve the health of patients. We're excited to continue our partnership with them as they expand their business."
Bullock of Sorenson Capital commented, "We understand Health Catalyst's roots. Having invested in companies here in the Salt Lake Valley for many years, we know the caliber of folks at Health Catalyst and have witnessed their success as leaders previously at nationally-recognized health systems like Intermountain Healthcare and Northwestern. We are thrilled to help Health Catalyst continue in its growth."
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a multi-stage investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages more than $3.7 billion in capital and has funded over 500 companies since inception. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early- to late-stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare. For more information visit: www.nvp.com.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Networks, Tony Hsieh of Zappos, Omar Hamoui of Admob, Steve Streit of Green Dot and Reid Hoffman and Jeff Weiner of LinkedIn. To learn more about Sequoia Capital visit www.sequoiacap.com.
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity fund that provides small- to middle-market buyout and growth equity investments. Sorenson Capital is managed and controlled by West Rim Capital and has offices in Salt Lake City, Utah.
About Health Catalyst
Based in Salt Lake City, Health Catalyst (formerly Healthcare Quality Catalyst) delivers a proven, agile data warehouse platform that actually works in today's transforming healthcare environment. Currently 81 hospitals caring for 20 million patients utilize Health Catalyst's Adaptive Data Warehousing platform and solutions. Founded by healthcare veterans who developed their solution after struggling for years to try to make non-healthcare data warehousing solutions work, the Health Catalyst data warehouse utilizes an adaptive approach designed specifically to address the complex nature of healthcare data. Health Catalyst's platform combines technology solutions and clinical expertise borne out of repeated successful implementations that significantly improved quality of care and reduced healthcare costs. Health Catalyst's proven solutions are deployed at leading health systems including Allina Health, Indiana University Health, MultiCare Health System, North Memorial Health Care, Providence Health & Services, Stanford Hospital and Clinics, and Texas Children's Hospital. Visit www.healthcatalyst.com, and follow us on Twitter.
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Nov. 24, 2015 10:30 PM EST Reads: 405
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNub’s Data Stream Network.
Nov. 24, 2015 10:00 PM EST Reads: 257
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 24, 2015 08:00 PM EST Reads: 337
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user experience, both offline and online. The focus of this talk was on IBM Cloudant, Apache CouchDB, and ...
Nov. 24, 2015 07:30 PM EST Reads: 341
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
Nov. 24, 2015 06:00 PM EST Reads: 368
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
Nov. 24, 2015 05:30 PM EST Reads: 141
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
Nov. 24, 2015 04:30 PM EST Reads: 285
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
Nov. 24, 2015 03:30 PM EST Reads: 507
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Nov. 24, 2015 03:30 PM EST Reads: 459
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
Nov. 24, 2015 03:00 PM EST Reads: 285
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Nov. 24, 2015 02:00 PM EST Reads: 416
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningful and actionable insights. In his session at @ThingsExpo, Paul Turner, Chief Marketing Officer at...
Nov. 24, 2015 01:45 PM EST Reads: 337
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Nov. 24, 2015 01:45 PM EST Reads: 408
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Nov. 24, 2015 01:30 PM EST Reads: 487
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 24, 2015 01:30 PM EST
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound cha...
Nov. 24, 2015 01:30 PM EST Reads: 480
We are rapidly moving to a brave new world of interconnected smart homes, cars, offices and factories known as the Internet of Things (IoT). Sensors and monitoring devices will touch every part of our lives. Let's take a closer look at the Internet of Things. The Internet of Things is a worldwide network of objects and devices connected to the Internet. They are electronics, sensors, software and more. These objects connect to the Internet and can be controlled remotely via apps and programs. Because they can be accessed via the Internet, these devices create a tremendous opportunity to inte...
Nov. 24, 2015 01:15 PM EST Reads: 478
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Nov. 24, 2015 01:00 PM EST Reads: 492
SYS-CON Events announced today that Kintone has been named "Bronze Sponsor" of SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. kintone promotes cloud-based workgroup productivity, transparency and profitability with a seamless collaboration space, build your own business application (BYOA) platform, and workflow automation system.
Nov. 24, 2015 12:00 PM EST Reads: 565
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
Nov. 24, 2015 12:00 PM EST Reads: 333