Shyft Analytics, a Waltham, MA-based cloud data and analytics platform for the global life sciences industry, secured an initial $12.5m in Series B funding.
Backers included McKesson Ventures, Medidata Solutions (NASDAQ: MDSO), Health Enterprise Partners and Milestone Venture Partners.
The company intends to use the funds to continue its growth and expansion and further advance its healthcare cloud analytics platform.
Led by Zackary King, CEO and co-founder, Shyft recently launched SHYFT RWE, a solution that aggregates EMR data and delivers real world treatment outcomes and analytics. In a single application, customers can conduct end-to-end patient and disease studies for research focused on drug safety, comparative effectiveness, drug utilization, treatment pathways and patient outcomes.
Customers already include two of the top 10 global pharmaceutical companies and a rapidly expanding customer base in Specialty, Rare Disease, and Biotechnology.