Palo Alto, California, March 07, 2022 (GLOBE NEWSWIRE) -- Health Gorilla, a leading Health Information Network and interoperability provider, today announces it has raised $50 million in series C funding, led by San Francisco-based SignalFire with participation from Epsilon Health Investors, IA Capital, and Nationwide Ventures. With this latest round of funding, Health Gorilla plans to expand its go-to-market strategies, accelerate product development, and enhance its staffing capabilities.
"This significant round of funding is an important milestone for Health Gorilla and will enable us to continue to scale our interoperability platform to meet the huge opportunities that exist within the healthcare market," said Steve Yaskin, CEO and co-founder of Health Gorilla.
To create a healthcare system with effective health information exchange, healthcare organizations need more than a series of connections between each other. They need assurance that the data being exchanged is meaningful and to know it will be delivered when and where they need it.
While health information exchange has made tremendous strides over the last few years, unreliable patient data identifiers, information blocking, and disparate systems continue to cause various challenges. These paired with varying data standards have created a healthcare environment that is disconnected and difficult for patients to navigate.
Founded in 2014, Health Gorilla delivers an innovative FHIR-native Health Interoperability Platform and a Health Information Network that solves these problems and creates a more equitable healthcare ecosystem by allowing the entire industry to securely exchange aggregated clinical data. The platform supports a diverse set of clinical use cases and is improving outcomes across the country by ensuring providers have timely and efficient access to actionable information.
"This round of funding will be followed by a concentrated push to bring on industry-leading talent across the organization,” said Karla Mills, COO of Health Gorilla. "We already have various exciting opportunities available and will have a strong focus on expanding our sales, marketing, engineering, business development, and product teams throughout the year."
Last year, the company saw a 200% increase in Committed Annual Recurring Revenue, increasing its customer base by 87%, and experienced significant momentum in its business development initiatives. This latest round brings the total raised by Health Gorilla to $80 million.
Health Gorilla also doubled its employee headcount in 2021 and announced new appointments to its senior executive team – Karla Mills to Chief Operating Officer and former Attorney at the U.S. Department of Health and Human Services Carol Allis to Chief Compliance Officer.
"The 800-pound gorilla in the room is that your doctor doesn't have access to accurate medical records. For patients to receive the best care possible, all players in the ecosystem need to work together," said Chris Scoggins, Partner at SignalFire. "Health Gorilla is uniquely positioned to address this gap in healthcare and patient treatment, and we look forward to working alongside their team to ensure the right people have access to the right health data so the right decisions can be made in a more timely and informed manner."
In 2022, the company aims to achieve a Qualified Health Information Network (QHIN) designation under the Trusted Exchange Framework and Common Agreement (TEFCA). Health Gorilla worked closely with the Office of the National Coordinator for Health Information Technology (ONC), and the Sequoia Project, TEFCA's Recognized Coordinating Entity, as the framework and common agreement were developed and are well positioned to bridge the gap between TEFCA's interoperability goals and the private sector.
About Health Gorilla
Founded in 2014, Health Gorilla is a National Health Information Network that enables the entire health care ecosystem – patients, payers, providers, digital health solutions, and labs – to seamlessly share health data and aggregate each patient's entire clinical history in one place. With enterprise-grade clinical data APIs and an unparalleled master patient index, the Health Gorilla network makes it easy for providers to pull their patient's information from any clinical records system. For more information, visit healthgorilla.com or follow us on Twitter @HealthGorilla.
About SignalFire
SignalFire is the first venture capital firm built from the ground up as a technology company. The company invests in leaders with an uncommon passion, offering unprecedented data, advice, and access from seed to scale. With a hybrid technology and people-powered approach, the team is uniquely qualified to help founders navigate the toughest parts of building a company at every stage, including recruiting, expert advice, and a corporate network. Launched in 2013, the firm has nearly $1B in assets under management and has made notable investments in top Silicon Valley startups including Zume, Lyric, Ro, Grammarly, Color Genomics, ClassDojo and Frame.io among others.
