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AZ Tech Beat | July 20, 2019

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ClearDATA raises $14M to expand cloud computing

ClearDATA raises $14M to expand cloud computing
Tishin Donkersley

ClearDATA Networks, Inc., the leading healthcare cloud computing platform and service provider, today announced the close of an over-subscribed $14M Series B funding round that will provide the company with capital to maximize its growth opportunities and momentum in the Health Information Technology (HIT) cloud computing market. ClearDATA went back to the well with investors Norwest Venture Partners and Excel Venture Management, and held a second closing for their strategic partner Merck Global Health Innovation Fund.

“The Merck Global Health Innovation Fund has one of the most aggressive and successful corporate venturing arms…and they want to change the world by stitching companies together and finding solutions within the healthcare industry-we hope to be an extension of their infrastructure. We intend to be one of the global brands in the healthcare industry. We have the right financial backing and executive employee talent to really scale and focus on our massive market share,” CEO ClearDATA Darin Brannan told AZTB.

ClearDATA’s cloud computing platform currently serves more than 300,000 healthcare professionals and secures tens of millions of healthcare records. The company hosts data and applications for many provider and hospital organizations, and healthcare software and service vendors.

This funding adds to their $7 million announced in August that was primarily used for market base, sales and operations. With this raise Brannan said, ”the investment portion will go to innovative R&D, operational optimization and good portion branding awareness through sales and marketing initiatives. We will continue to move up the intellectual property stacks and infrastructure for software companies or hospital systems. We also plan to be a big data aggregator, extend our cloud footprint and open more data centers.”

Brannan’s mission for the healthcare industry is clear, “We’re a local company out to change the world and change healthcare in a meaningful way. We want to make healthcare better and safer by making that data more secure and reliable anywhere, we are trying to be that major change agent in the industry.”

Read more about ClearDATA here.