Datavant, a San Francisco, CA-based provider of solutions for life sciences and healthcare organizations to connect their data while protecting patient privacy, raised $40m in Series B funding.
The round, which brought Datavant’s cumulative fundraising to $83m, was led by Transformation Capital, with participation from new investors Johnson & Johnson Innovation – JJDC, Inc. and Cigna Ventures, as well as participation by existing shareholders Roivant Sciences and Flex Capital.
The company intends to use the funds to continue to expand its open healthcare data ecosystem.
Led by Travis May, Founder & CEO, Datavant provides technology to help data holders manage the privacy, security, compliance, and trust required to enable safe data exchange. Its technology is used by more than 350 institutions to de-identify their data sets, which are then linkable to other data sets within the Datavant ecosystem.
Over the past year, Datavant:
- Onboarded the 350th organization into its health data ecosystem
- executed an agreement with Janssen to enable privacy-preserving data linkage across the organization
- Announced new partnerships with Blue Health Intelligence, Komodo Health, Medable, Parexel, Precision Digital Health, Prognos, Symphony Health, Trialbee, and TriNetX to enable the connection of real-world data across analytics and pharmaceutical companies, including incorporating clinical trial data and real-world data
- Launched its trial tokenization product to connect clinical trial data with real-world evidence
- Launched the COVID-19 Research Database with several partners, the largest pro bono source of real-world data being used for academic and medical research related to COVID-19, which has more than 1,500 registered researchers and 100 studies in progress
- Acquired Highland Math and launched its Connect Cloud suite of tools focused on removing additional friction from data exchange
- Added Don Berwick (former Administrator of CMS), David Shulkin (former Secretary of the VA), and Andrew von Eschenbach (former FDA Commissioner) to the advisory board
- Implemented linking technology across the many dozens of academic medical centers that comprise the Patient-Centered Outcomes Research Network
The company’s ecosystem of more than 350 institutions comprises more than 70 academic medical centers, pharmaceutical companies, over 100 health technology and data companies, health insurers, specialty pharmacies and patient hubs, and labs.