Healthcare data integration startup Abacus Insights lands $12.7M Series A
Abacus Insights, an early stage startup that wants to help coordinate healthcare information across systems, announced a $12.7 million Series A investment today led by CRV. Existing investors 406 Ventures and Echo Health Ventures also participated in the round.
The company is trying to make it easier for health insurance companies to share data with various parties in the healthcare system with the ultimate goal of lowering costs and helping participants across the system from doctors to pharmacists and other healthcare practitioners have a better understanding of the overall patient record.
Company founder and CEO Dr. Minal Patel says they chose insurance companies as the target customer for their solution because they have a greater understanding of a person’s overall healthcare as everything flows through them for payment.
“We launched in 2017 with the purpose of helping our clients, who are typically large health insurance companies, liberate all the data they sit on so that they can help their members become healthier and have better experience with the overall health care system,” he said.
The platform is essentially a data integration play tuned specifically for the healthcare industry. Trying to pull data from the variety of legacy systems in place
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