Austin-based ClearDATA announced Thursday that it has raised $12 million in venture capital funding.
The company plans to use the funds to expand its healthcare-exclusive, HIPAA-compliant cloud.
Investors include Merck Global Health Innovation Fund, Norwest Venture Partners, Excel Venture Management, Heritage Group, HLM Venture Partners, and Flare Capital Partners. Previously, ClearDATA raised $25 million.
“ClearDATA has achieved considerable revenue and customer growth year-over-year, in parallel with—and influencing—the healthcare industry’s mainstream adoption of the cloud,” Robert Abbott, Norwest Venture Partners, said in a news release.
More than 30 major healthcare brands indirectly support ClearDATA through various strategic partnerships. And more than 350,000 healthcare professionals use the ClearDATA cloud to store patient data and power their applications.
“The healthcare digital revolution is in full swing,” Darin Brannan, CEO of ClearDATA, said in a news release. “But mission-driven healthcare organizations want to stay focused on caring for patients, building great software, or serving their members, not on being IT security or cloud compliance experts. Combining the technology aspect of the cloud with the healthcare aspects of compliance, comprehensive security, and regulatory support has resulted in continued market traction with 98% year-over-year growth in our core subscription services.”