Clarify Health, maker of a clinical-analytics platform, announced a $150 million Series D funding round led by SoftBank Vision Fund 2. BlackRock, Memorial Hermann Health System, Insight Partners, Spark Capital, KKR, Aspenwood Ventures, Rivas Capital and Sigmas Group also participated in this funding round.
This news comes just a year after the company raised $115 million in Series C funding. This new infusion of cash brings the company’s total raise to over $350 million.
WHAT IT DOES
Clarify Health is focused on the value-based care space. The company uses its cloud-software product to help plans create “value-based care contracts, manage financial performance and digitize settlements.”
The company’s clients include providers, health plans and life science companies. The tool is able to capture clinical data, claims information, prescription data, labs and information about social determinants of health. Clarify’s artificial intelligence and machine learning data can then analyze information and help stakeholders make care decisions.
WHAT IT’S FOR
The company is planning to grow its value-based payments technology.
“We founded Clarify because we wanted healthcare organizations and patients to benefit from the big data efficiencies of the banking and consumer industries,” Todd Gottula, president of Clarify Health, said in a statement.
“Clarify’s enterprise system of intelligence has unleashed an exchange of AI-driven insights among providers, health plans, and life sciences companies. Going forward, our value-based payments platform will enable the transaction of all payments, driving better care decisions, scaling value-based care, improving outcomes and eliminating waste.”
Clarify Health has been growing, not just via fundings, but also through M&A. In 2021, the company announced its plans to purchase financial insights company Apervita. In March 2022, the company announced its acquisition of cloud-analytics platform Clarify Health for an undisclosed sum.
An increasing number of digital health companies are working in the value-based care space. In February, value-based care platform Signify Health announced its plans to acquire Caravan Health, a startup focused on helping providers transition into accountable care organizations, for $250 million.