Catalyze, Inc., a Madison, Wisconsin-based provider of HIPAA compliant cloud services for secure healthcare data has raised $6.5 million in Series B funding led by Lewis & Clark Ventures, with participation of existing investors, Arthur Ventures, Baird Venture Partners and Chicago Ventures.
The latest investment round brings total Catalyze funding to more than $12.5 million since inception of its compliant cloud infrastructure. Catalyze plans to utilize the funding to expand its sales and marketing efforts on growing its base of healthcare providers, pharmaceutical companies and payer customers.
Founded in 2013, Catalyze is the only cloud service built to be HIPAA compliant from the ground up. Catalyze offers a HIPAA compliant backend as a service API, a HIPAA compliant cloud platform that’s as easy as pushing your code to our servers, and manages HL7 integration through a RESTful API.
Catalyze tackled a tough challenge for healthcare development teams by building HIPAA compliant infrastructure, called Stratum. During multiple audits of its hosting infrastructure and successful completion of HITRUST CSF Certification, the company solved another challenge for developers with its end-to-end EHR integration product, Redpoint.
Through the remainder of this year, Catalyze plans to solve other real-world problems for the healthcare, as the industry edges closer to value-based care. The challenge will be solved with novel insights through Catalyze, driven by data.Major healthcare institutions and digital health startups have both chosen Catalyze as their infrastructure partner including the Department of Veteran Affairs and Blue Shield California.
“The need to empower and enable this healthcare transformation by bringing new and innovative technologies to the industry is something our firm values. As a leader in transformation, Catalyze has built practical solutions to drive healthcare interoperability,” said Brian Hopcraft, managing director of Lewis & Clark Ventures, as well as a newly added Catalyze board member in a statement. “We are excited to back Catalyze, a company that has built incredible industry trust and put together a team of skilled professionals who have unmatched expertise that is facilitating a more secure, innovative healthcare system.”
