Abacus Insights, a leading-edge healthcare data integration company with
operations in New York and Boston, today announced completion of a $12.7
million Series A financing round. Venture capital powerhouse, CRV, led
the funding, with participation from existing investors, .406 Ventures
and Echo Health Ventures. The new funding will help drive expansion and
aggressively grow the company’s technology and product talent as Abacus
continues its rapid growth trajectory.
Behind every interaction within our healthcare system, a surge of data
is created. But today, that data is siloed, complicated, and slow to
give patients the best possible care. Using its intelligent cloud-based
data integration platform, Abacus is on a mission to improve people’s
lives by liberating this data on behalf of its customers. Health
insurers can use the Abacus platform to enhance consumers’ experiences,
improve patients’ health, and lower the cost of care.
“Abacus Insights is capitalizing on one of the most profound technology
transitions in health insurance history, by helping clients unlock the
value of their data to improve patients’ lives,” said Murat Bicer,
General Partner at CRV. “With deep healthcare experience and
cutting-edge cloud expertise, Abacus has built the right team to pioneer
a new way for health insurance companies to access valuable data trapped
in siloed legacy systems and use it to create actionable insights.”
“This investment will help propel us forward as we continue to scale the
company, adding talented professionals who are looking to make a
difference tackling one of the thorniest problems facing our healthcare
system,” said Dr. Minal Patel, CEO and Founder of Abacus Insights. “We
chose CRV because they have a deep understanding of the tech landscape
and how to scale high-growth platform businesses. We believe partnering
with them and our existing investors, .406 Ventures and Echo Health
Ventures, uniquely positions us to continue to innovate on our data
platform to meet the aggressive demand we are seeing in the market.”
Abacus has gained significant market traction and is aggressively
growing its world class team, seeking Engineering and Product talent in
both New York City and Boston, MA. For more information about Abacus
open positions, please visit: https://abacusinsights.com/careers.
CRV has been a leading investor in high-growth technology companies for
nearly half a century, focusing on enterprise, consumer and
bioengineering. The firm has backed over 400 startups in its nearly
50-year history, including some of the biggest tech exits in the last
few years including Dropbox, PillPack, Ring, Twitter, and Zendesk. CRV
has offices located in San Francisco and Palo Alto, CA, and Cambridge,
MA. Please visit CRV.com
for more information and follow us on Twitter @CRV.
About Abacus Insights
Abacus Insights is the first healthcare specific data integration
platform allowing health insurance companies to unlock the value of
their data to improve the lives of the members they serve. Abacus solves
healthcare’s biggest challenges: improving patient experiences,
improving the health of populations and reducing the cost of care.
Abacus does so through its intelligent healthcare data integration
platform, which democratizes responsible access to diverse types of
data, expedites discovery of what’s possible, and fuels innovation.
Abacus Insights operates out of its offices in both New York City and
Boston, Massachusetts. For more information, please visit www.abacusinsights.com.