Google Ventures leads $130 Million Investment For Flatiron Health.
Google Ventures has recently led a $130 million Series B round for a big data startup that herds cancer treatments record to offer practitioners a clearer view of a patients needs, Flatiron Health.
This would be the second time Google Ventures has invested into Flatiron Health, which also drew in currently existing invest First Round Capital and Laboratory Corporation of America Holdings during this round. The investment has brought Flatiron’s total invest up to a total of $138 million.
A piece of this funding shall go towards acquiring Altos Solution, whose products include its electronic medical record (EMR) system OncoEMR, are utilized by over 1,300 oncology clinicians. The web-based software offers a workflow that helps clinics document different aspects of a cancer patient care. Collectively its client see’s a total of 550,000 unique cancer patients each year.
According to Flatiron, this union shall create one of the world’s largest pool of structured realty oncology data. The pair plan to integrate Flatiron’s OncologyCloud and Altos OncoEMR to improve data gathering, data flowing and improved decision making,
Altos will also provide a variety of anaytics products for oncology providers that support billing and reimbursements as well as data sharing services between oncology practices though its Oncology service.
Flatiron stated that their main object for the coming future is to provide cancer care providers de-identified data from other cancer centers on its OncoAnalytics platform, broadening its current offer which only integrates different data sources within a cancer center to provide real-time intelligence.
Founders of Flatiron Healh, Zach Weinberg and Nat Turner launches the company in 2012, hoping to integrate big data analytivs to the increasing numbers of electronic records being generated by practitioners and researchers, The pair had previously invited Media, a bid manager platform for online ads, Which was previously acquired by Google’s DoubleClick during 2010.
“Cancer will likely touch all of us at some point in our lifetimes, either as a patient or as the family or friend of a patient. Flatiron has pioneered a way to learn much more about cancer, so that we can improve the way we care for patients and treat the disease,” Dr Krishna Yeshwant, a general partner at Google Ventures, said in a statement.
“It’s rare to find a team of the caliber assembled by Flatiron Health that combines pragmatic insights from the healthcare industry with the deep technical insight of the IT industry. They are working on one of the biggest problems in healthcare, and their progress has been nothing short of stunning to date.”