Press ReleaseSeptember 21, 2016
Catalyze Raises $6.5 Million in Series B Financing to Meet the Growing Need of Trusted Connectivity within Enterprise Healthcare
MADISON, WIS. (PRWEB) SEPTEMBER 21, 2016
Catalyze, Inc., healthcare’s leading HITRUST CSF Certified cloud provider, announced today that it has raised $6.5 million in a Series B fundraising effort. St. Louis-based Lewis & Clark Ventures led the round, with participation of existing investors, Arthur Ventures, Baird Venture Partners and Chicago Ventures. The additional financing will allow Catalyze to accelerate growth with its core healthcare integration and hosting products and services. An expanded focus on sales and marketing will broaden efforts toward enterprise customers, such as hospital systems, pharmaceutical companies and payers.
Catalyze tackled a tough challenge for healthcare development teams by building the first HIPAA compliant infrastructure, called Stratum. During multiple audits of its hosting infrastructure and successful completion of HITRUST CSF Certification, the company solved another challenge for developers with its end-to-end EHR integration product, Redpoint. Through the remainder of this year, Catalyze will solve other real-world problems for the healthcare, as the industry edges closer to value-based care. The challenge will be solved with novel insights through Catalyze, driven by data.
“The need to empower and enable this healthcare transformation by bringing new and innovative technologies to the industry is something our firm values. As a leader in transformation, Catalyze has built practical solutions to drive healthcare interoperability,” said Brian Hopcraft, managing director of Lewis & Clark Ventures, as well as a newly added Catalyze board member. “We are excited to back Catalyze, a company that has built incredible industry trust and put together a team of skilled professionals who have unmatched expertise that is facilitating a more secure, innovative healthcare system.”
The latest investment round brings total Catalyze funding to more than $12.5 million since inception of its compliant cloud infrastructure. The industry has continued to recognize the company for its market leadership and benchmarks with compliant hosting and EHR integration, naming Catalyze as a semi-finalist for both a TripleTree iAward and an Innovations in Healthcare Abby Award this year.
“It’s been an exceptional year for Catalyze, with strategic team hires that came with the highest government and enterprise security credentials, an appointment to the first HITRUST Business Associate Council, along with a rapidly expanding roster of customers,” said Catalyze CEO Travis Good, MD. “Those customers have offered our team the unique opportunity to solve a multitude of data exchange challenges that fall outside of traditional standards. With the financial support and domain expertise of Lewis & Clark Ventures and our other investors we look forward to introducing more key healthcare solutions in 2017.”
About Catalyze, Inc.
Catalyze provides an innovative HIPAA compliant, HITRUST CSF Certified platform with a complete set of modules to handle, store and transmit PHI securely in the cloud. Scalable, HIPAA compliant and interoperable infrastructure is powering the future of healthcare, so Catalyze has built the platform upon which an enterprise can hasten healthcare innovation without the need to become an overnight expert in compliance. For more information, please visit http://www.catalyze.io.