Cloud-based oncology software provider Flatiron Health has raised $175M in Series C funding led by Roche with participation from Allen & Company, Baillie Gifford and Casdin Capital. Founded in 2012, the NYC-based company organizes the world’s oncology information and makes it useful for patients, physicians, life science companies and researchers.
The company plans to utilize the capital to further invest in its cloud-based OncologyCloud software platform, which includes OncoAnalytics®, a first-of-its-kind advanced analytics tool, and OncoEMRⓇ, the industry-leading electronic health record for oncology with an integrated patient portal and claims system.
Accelerating Personalized Medicine with Roche
As part of the funding announcement, Flatiron Health will enter into a multi-year, non-exclusive agreement with biotech provider Roche to purchase a number of Flatiron Health’s life science offerings. The companies will also collaborate to accelerate clinical trials, advance personalized medicine and enhance patient care.
Lastly, Flatiron Health will continue investing in its unique offerings for life science companies. In 2016, the company plans to accelerate its partnerships with life sciences companies to provide products that can be used to gain an unprecedented understanding of cancer care, support healthcare decision-making and improve patient outcomes.
Over the coming years, these investments will include:
– The next generation of OncoEMR, which will feature the company’s most significant enhancements to date across workflow optimization, infrastructure and design to transform the delivery of patient care and empower providers to succeed in an evolving landscape.
– New additions to the company’s value-based care solutions portfolio, designed to enable providers to participate in initiatives such as the Oncology Care Model (OCM) and other alternative payment models. Currently, the company offers a comprehensive solution across integrated treatment pathways and content, automated quality measures, patient engagement and alternative payment model design. Later this year, the company will release tools and services to further support providers focused on clinical transformation.
– Additional enhancements and features across OncoAnalytics, OncoBilling® practice management solution and SeeYourChart® patient portal to help cancer care providers maximize efficiency, identify revenue opportunities and better engage with patients.
“As the oncology landscape continues to evolve, it will be increasingly important for cancer care providers to partner with a technology company that brings a fresh and innovative approach to solving today’s challenges,” said Robert J. Green, MD, vice president, Clinical Strategy and senior medical director, Flatiron Health. “Our new funding will enable us to continue heavily investing in the OncologyCloud software platform and other critical initiatives spanning value-based care and clinical research to position Flatiron Health as a different type of oncology partner – one that can empower providers, both now and long-term.”
