Cogitativo, Inc., a Berkeley, Calif.-based data-science-as-a-service (DSaaS) company for healthcare service organizations, raised $18.5m in Series B financing.
The round was led by Wells Fargo Strategic Capital (WFSC), a wholly-owned subsidiary of Wells Fargo & Company (NYSE: WFC), with participation from Claritas Capital.
The company intends to use the funds for product acceleration of AI-driven solutions to detect and remediate areas of waste and inefficiency in the arrangement and financing of healthcare.
Led by Gary Velasquez, CEO, Cogitativo provides a machine learning platform for healthcare performance improvements by enabling payers and providers to identify and challenge system complexities. Presently, nearly 50 healthcare entities with over 45 million members use the company’s solutions to manage their operational and strategic challenges, and their ability to navigate marketplace complexity.