onFocus Healthcare, Inc., a Brentwood, Tenn.-based provider of web-based enterprise performance management solutions for the healthcare services marketplace, has secured $3m in Series B financing led by Clayton Associates’ FCA Venture Partners IV.
Limestone Fund, Tri-Star Technology Fund, Solidus Company, NCN Angel Fund, Kestrel Asset Management and Heritage Group Holdings also participated in the round. Solidus led the company’s Series A round, which also included Kestrel and Heritage.
A portion of the latest round of funding came from the Tennessee Small Business Company Investment Credit Act (TNInvestco), which was created last year to fund innovative Tennessee companies.
Limestone and Tri-Star are two of the venture funds selected to participate in the program.
The company will use the financing to support ongoing sales and marketing of its onFocus|epm(TM) “Enterprise Performance Management” software, which is used by executive teams in healthcare organizations including large for-profit systems, community and non-profit hospitals and large academic medical centers to ensure accountability and achieve critical business objectives across the organization.