Total amount raised
$49.3 Millions
Latest funding date
12/01/2024
Location
Particle Health has successfully raised $10 million in its most recent funding round, backed by investors such as PruVen Capital and Menlo Ventures. The company offers an API platform designed to provide access to over 320 million patients' medical records, transforming them into actionable insights for healthcare innovators.
Keep reading to explore the intricacies of Particle Health's fundraising journey and the investors backing this innovative platform.
What Is Particle Health?
Particle Health, founded on January 22, 2018, is a New York-based company specializing in healthcare data solutions. The company was established by Dan Horbatt and Troy Bannister.
Operating within the healthcare industry, Particle Health focuses on developing APIs and electronic health records (EHR). The company employs between 11 and 50 people, providing a platform that integrates and standardizes healthcare records from various sources.
Particle Health's API platform offers access to over 320 million patients' medical records, transforming them into actionable insights for healthcare innovators. Their solutions cater to value-based care, payers, health systems, and developers, emphasizing security and compliance with credentials like HITRUST, SOC2, and HIPAA.
How Much Funding Has Particle Health Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: May 7, 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial development and launch of the API platform.
- Series A
- Amount Raised: $12M
- Date: Apr 28, 2020
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate growth.
- Series B
- Amount Raised: $25M
- Date: Jul 12, 2022
- Lead Investors: Canvas Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the health data exchange API platform and enhance interoperability.
- Venture Round
- Amount Raised: $10M
- Date: Dec 10, 2024
- Lead Investors: PruVen Capital, Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the API platform and expand data integration capabilities.
Total Amount Raised: $49.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Canvas Ventures
- Details: Canvas Ventures focuses on early-stage technology companies. They have been instrumental in funding innovative startups across various sectors.
- Investment Focus Areas: Fintech, digital health, enterprise software.
- Notable Investments: Zola, Roofstock, Thrive Global.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that invests in consumer, enterprise, and life sciences companies. They support companies at various stages of growth.
- Investment Focus Areas: Consumer technology, enterprise technology, life sciences.
- Notable Investments: Uber, Roku, Warby Parker.
- Story Ventures
- Details: Story Ventures focuses on early-stage technology companies. They have a particular interest in data-driven startups and companies leveraging machine learning.
- Investment Focus Areas: Data-driven startups, machine learning, early-stage technology companies.
- Notable Investments: Particle Health, Radar, HyperScience.
- PruVen Capital
- Details: PruVen Capital invests in early to growth-stage companies. They are known for their involvement in innovative and high-growth potential sectors.
- Investment Focus Areas: Healthcare, technology, consumer products.
- Notable Investments: Hippo Insurance, Better Mortgage.
What's Next for Particle Health?
Particle Health stands at the cusp of a significant opportunity, with its platform aggregating data from over 270 million patients. The healthcare data exchange market, valued at $20 billion, offers vast potential for growth. By scaling its analytics products and launching a partner platform, Particle Health aims to enhance interoperability and provide actionable insights to healthcare providers.
Future fundraising opportunities appear promising as the company continues to demonstrate strong growth metrics, including a 450% increase in annual recurring revenue and a 300% increase in customers. These achievements are likely to attract further investment, enabling Particle Health to expand its product offerings and market reach.
However, challenges such as ensuring data security, maintaining high success rates in data retrieval, and navigating regulatory compliance remain. As the company scales, integrating data from diverse sources and keeping up with evolving industry standards will be critical to its continued success.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Particle Health and gather other critical business insights. Sign up for free to start leveraging these powerful tools today.
