Core Informatics Win $17.5M Investment
Oak HC/FT lead Series B funding for informatics company.
Hot on the heels of being nominated as a “Cool Vendor” by Gartner (a technology research and advisory firm), and winning Best of Show at BioIT Word in April, Core Informatics have come out as winners once again. The data management software company closed a $17.5 million Series B funding led by Oak HC/FT.
Core Informatics has seen a remarkable growth in personnel over the past year. These new funds will allow them to keep expanding their cloud-based product development team, and their Platform for Science Marketplace.
“The team at Oak HC/FT has an amazing track record of identifying emerging leaders across numerous segments of the healthcare industry and we are thrilled to welcome their support at this time of our rapid growth,” said Josh Geballe, Core Informatics CEO. “This round of capital will equip us to meet the strong demand for our software solutions and enable more scientific organizations to accelerate their operations and get products to market faster and more efficiently.”
Everyday, we get told that healthcare is becoming increasingly data-centric. The growth in sequencing data is well documented, but what gets a little less attention is the way that the R&D environment is changing and the IT infrastructure required to enable innovations.
“Drug discovery, molecular diagnostics, and other scientific domains are seeing tremendous transformation and yet the industry still lags in terms of software solutions to support this important work,” said Andrew Adams, a general partner at Oak HC/FT who will join Core’s board of directors. “Core Informatics is closing that gap by bringing the same transformational approach enabled by innovative cloud-based solutions to this market that we’ve seen create tremendous value in other healthcare markets by improving patient outcomes and human health.”