Total amount raised
$42.9 Million
Latest funding date
05/01/2023
Location
Apixio has successfully raised funding through 7 rounds, with the latest being a Private Equity round. The company is backed by notable investors, including New Mountain Capital and First Analysis.
Keep reading to explore the intricacies of Apixio's fundraising journey and the investors backing this innovative platform.
What Is Apixio?
Apixio is a private company located in San Mateo, California, specializing in Analytics, Artificial Intelligence (AI), Health Care, and Information Technology. The company operates a Connected Care Platform at the intersection of health plans and providers.
Founded with a mission to enhance healthcare through data-driven insights, Apixio has grown to employ between 101-250 people. The company has been acquired by New Mountain Capital and has raised funding through seven rounds, including private equity.
How Much Funding Has Apixio Raised?
- Series A (2009-12-30)
- Amount Raised: USD 501,252
- Date: December 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Apixio's connected care platform.
- Series A (2011-03-23)
- Amount Raised: USD 2,790,000
- Date: March 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's product development and market reach.
- Series B (2012-08-17)
- Amount Raised: USD 5,790,000
- Date: August 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Apixio's analytics capabilities and expand its customer base.
- Debt Financing (2014-02-13)
- Amount Raised: USD 980,000
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and short-term financial needs.
- Series C (2014-05-27)
- Amount Raised: USD 13,500,000
- Date: May 2014
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's technology and expand its market presence.
- Series D (2016-05-24)
- Amount Raised: USD 19,300,000
- Date: May 2016
- Lead Investors: SSM Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product development, operations, sales, and marketing.
- Private Equity (2023-05-03)
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and potential acquisitions.
Apixio has raised a total of USD 42,861,252. The current valuation is Not publicly disclosed.
Key Investors
- New Mountain Capital
- Details: New Mountain Capital is a private equity firm based in New York. They focus on building and growing businesses through long-term investments.
- Investment Focus Areas: Healthcare, Technology, Financial Services
- Notable Investments: Equian, Zep, Inc., AmWINS Group
- First Analysis
- Details: First Analysis is a venture capital firm that provides investment and advisory services. They have a strong focus on growth companies in various sectors.
- Investment Focus Areas: Healthcare, Technology, Clean Technology
- Notable Investments: Health Catalyst, Cleversafe, Vibes
- SSM Partners
- Details: SSM Partners is a growth equity firm that invests in high-growth companies. Casey West, managing partner, joined Apixio's Board of Directors.
- Investment Focus Areas: Healthcare, Software, Technology-Enabled Services
- Notable Investments: Healthx, Verity Solutions, Clearwave
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, focusing on early to growth-stage investments. They participated in Apixio's Series D funding round.
- Investment Focus Areas: Fintech, Healthcare, Enterprise Software
- Notable Investments: LinkedIn, DocuSign, Jet.com
What's Next for Apixio?
Apixio stands at the cusp of significant growth opportunities, driven by the increasing demand for personalized healthcare and the need to reduce costs. With the cognitive computing market projected to reach $5 billion by 2022, Apixio's advanced data analytics platform is well-positioned to capitalize on this trend. The company plans to expand its product development, operations, and market reach, leveraging its HCC Profiler and Iris cognitive computing platform to provide more comprehensive patient data and insights.
Future fundraising opportunities appear promising, given the successful Series D round and the growing interest in cognitive computing within healthcare. Apixio's ability to attract further investments will be crucial in scaling its operations and enhancing its technology. However, the company may face challenges such as competition from established players like IBM and the complexity of integrating cognitive solutions into existing healthcare systems. Navigating these hurdles will be essential for Apixio to maintain its competitive edge and achieve sustained growth.
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