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AZ Tech Beat | October 20, 2017

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CEO ClearDATA Darin Brannan on $25M Series C raise

CEO ClearDATA Darin Brannan on $25M Series C raise
Tishin Donkersley

ClearDATA, the leading healthcare cloud computing platform and service provider, announced the closing of an over-subscribed $25 million Series C led by Heritage Group, HLM Venture Partners and Flare Capital Partners.

Darin Brannan, President, CEO and co-founder ClearDATA, told us the funds will be used for sales and marketing as well as iterative platform development.

Since our last coverage of clearDATA and their $14M Series B round, Brannan said they are now serving 320,000 physician practitioners and have improved their platform with multi-cloud capabilities as well as increased security and privacy features.

Brannan said the company has expanded to other cities and opened an office in San Francisco for development and a sales satellite office in San Antonio.

With this raise comes jobs, and the company will be hiring for support, development, operations, marketing and sales positions, Brannan said.

When asked why these investors were a good fit for their next round, Brannan said, “They are the top five in the category of healthcare only investors and nearly all of their LPs are providers, payers and pharma – so they are highly strategic as well as being top-tier brand VCs”

What this means for the Arizona tech community? Brannan said, “This is a bid deal in my opinion.  Folks like Silicon Valley Bank suggest there are few AZ companies with top-tier VC backing (silicon valley, etc) and pedigree, we are importing. My last two IPO’d start-ups were founded in the Bay Area, this one is in Tempe as I am a native of AZ and trying to import some of the Silicon Valley start-up mojo.”

Read more coverage about clearDATA at AZ Tech Beat.