Welcome!

Recurring Revenue Authors: Kevin Jackson, Lucia Schöpfer, Jyoti Bansal, Liz McMillan, Aruna Ravichandran

News Feed Item

Health Catalyst Closes $33M Series B Investment From Norwest Venture Partners, Sequoia Capital and Sorenson Capital

Strategic Investment Extends Health Catalyst's Leadership in Healthcare Data Warehousing

SALT LAKE CITY, UT -- (Marketwire) -- 01/08/13 -- Health Catalyst (formerly Healthcare Quality Catalyst), the leader in healthcare data warehousing, today announced it closed $33 million in Series B funding, led by Norwest Venture Partners (NVP), with participation from Sequoia Capital (Series A lead investor) and Sorenson Capital. The Health Catalyst platform brings a new paradigm to the rapidly growing market for healthcare performance improvement, enabling hospitals and health systems of any size to better manage the coming cuts in Medicare and Medicaid rates, and more easily shift to managing patient populations under new care models.

Health Catalyst has more than doubled in size in each of the past three years while expanding its product line from eight stand-alone solutions to a platform of more than 40 integrated products. The company's agile, healthcare-specific data warehousing platform is utilized in the care of more than 20 million patients, including at Allina Health, Indiana University Health, MultiCare Health System, North Memorial Health Care, Providence Health & Services, Stanford Hospital and Clinics, and Texas Children's Hospital. In the last year, a majority of Health Catalyst's existing clients have dramatically expanded their original relationships with the company as a result of the rapid return on investment from their initial work together.

CLICK TO TWEET: #EDW Health Catalyst Announces $33 Million funding round led by @NorwestVP, and @Sequoia_Capital.

As part of this Series B investment, Promod Haque, managing partner at Norwest Venture Partners (NVP), will join the board of Health Catalyst, with Fraser Bullock, co-founder and managing director of Sorenson Capital, participating as a board observer.

"Almost every hospital and hospital system will need a data warehouse to organize, visualize and utilize its data to address the $750 billion of waste in the U.S. healthcare system," said NVP's Haque. "Health Catalyst not only offers a best-in-class solution to meet this growing need, but it boasts a stellar list of referenceable customers with quantifiable results and a pipeline of health systems that are demanding the company's solutions. The management team collectively brings more than 340 years of successful healthcare data warehouse experience to the table and has done a stellar job building an outstanding company and technology platform. We look forward to partnering with the team to help grow the company further."

Dan Burton, CEO of Health Catalyst, said, "Health Catalyst is well-positioned to continue to partner with the country's largest and most advanced health systems, as well as offer smaller health systems and individual hospitals a turnkey solution using the same platform and architecture. We are grateful for the market validation of the effectiveness of our platform and we will be using the funding to continue to invest deeply in our technology, services, and people to support our clients in their continued progression towards being data driven organizations."

Health Catalyst's technology platform meets the need for more effective data management and analytics capabilities as health systems are required to adjust to new shared-risk payment models. Hospitals of all sizes can better leverage their investments in electronic health records (EHRs) to more effectively measure quality outcomes, meet regulatory and financial incentive reporting requirements, standardize around the best, safest care practices, and eliminate waste.

Developed by healthcare and data warehousing veterans, Health Catalyst's platform is designed for integrating and analyzing complex operational, financial, clinical, and research data. Health Catalyst's approach has helped large, integrated delivery networks and smaller hospitals alike improve quality outcomes while simultaneously realizing millions of dollars in cost savings from improvements in areas such as length of stay, readmission rates, reduction in unnecessary procedures and prevention of patient injury.

"The market has reached a clear inflection point. While most large healthcare organizations have crossed the first hurdle to capture medical records electronically, many are still struggling to turn that information into real improvements," said Michael Dixon, partner at Sequoia Capital and a Health Catalyst board member. "Health Catalyst is helping their clients overcome these challenges and harness their data to save money, meet compliance needs, and most importantly, improve the health of patients. We're excited to continue our partnership with them as they expand their business."

Bullock of Sorenson Capital commented, "We understand Health Catalyst's roots. Having invested in companies here in the Salt Lake Valley for many years, we know the caliber of folks at Health Catalyst and have witnessed their success as leaders previously at nationally-recognized health systems like Intermountain Healthcare and Northwestern. We are thrilled to help Health Catalyst continue in its growth."

About Norwest Venture Partners

Norwest Venture Partners (NVP) is a multi-stage investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages more than $3.7 billion in capital and has funded over 500 companies since inception. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early- to late-stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare. For more information visit: www.nvp.com.

About Sequoia Capital

Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Networks, Tony Hsieh of Zappos, Omar Hamoui of Admob, Steve Streit of Green Dot and Reid Hoffman and Jeff Weiner of LinkedIn. To learn more about Sequoia Capital visit www.sequoiacap.com.

About Sorenson Capital

Sorenson Capital (www.sorensoncapital.com) is a private equity fund that provides small- to middle-market buyout and growth equity investments. Sorenson Capital is managed and controlled by West Rim Capital and has offices in Salt Lake City, Utah.

About Health Catalyst

Based in Salt Lake City, Health Catalyst (formerly Healthcare Quality Catalyst) delivers a proven, agile data warehouse platform that actually works in today's transforming healthcare environment. Currently 81 hospitals caring for 20 million patients utilize Health Catalyst's Adaptive Data Warehousing platform and solutions. Founded by healthcare veterans who developed their solution after struggling for years to try to make non-healthcare data warehousing solutions work, the Health Catalyst data warehouse utilizes an adaptive approach designed specifically to address the complex nature of healthcare data. Health Catalyst's platform combines technology solutions and clinical expertise borne out of repeated successful implementations that significantly improved quality of care and reduced healthcare costs. Health Catalyst's proven solutions are deployed at leading health systems including Allina Health, Indiana University Health, MultiCare Health System, North Memorial Health Care, Providence Health & Services, Stanford Hospital and Clinics, and Texas Children's Hospital. Visit www.healthcatalyst.com, and follow us on Twitter.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Press Contact:
Todd Stein
Amendola Communications
916-346-4213
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Ca...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will w...