Cloud Analytics Firm Clarify Health Lands $150M | Healthcare Innovation
Clarify Health, a cloud analytics company focused on healthcare and life sciences organizations, has secured $150 million in Series D financing.
The San Francisco-based company said the latest investment will accelerate the expansion of its intelligence offerings and the adoption of its value-based payments platform.
“Our mission is to fundamentally improve the way healthcare is paid for and delivered,” said Clarify Health CEO Jean Drouin, M.D., in a statement. “To date, siloed, disparate data and systems have made it extremely difficult to build the trust and transparency needed to accelerate the shift to value. We finally have the AI-driven intelligence that healthcare organizations need to optimize every patient journey and embrace value-based arrangements across providers, payers, and life sciences.”
Clarify recently acquired Embedded Health, a behavior change platform company that was spun out of the University of Pennsylvania’s Healthcare Transformation Institute, drawing on years of evidence-based research in behavioral economics and design. Embedded Healthcare reduces the cost of care for patients by helping clinicians practice more affordably. Its behavioral science platform delivers data and incentives to the point of care and simplifies the design, implementation, and performance of value-based contracts.
Last August, Clarify purchased the Value Optimization business of Apervita, a platform for healthcare collaboration for payers, providers and other stakeholders. At the time, the company said the acquisition, for an undisclosed price, would bolster its integrated analytics platform for end-to-end value-based contract design, payments reconciliation, clinical performance assessment, and reporting.
“We founded Clarify because we wanted healthcare organizations and patients to benefit from the big data efficiencies of the banking and consumer industries,” said Todd Gottula, president of Clarify Health, in a statement. “Clarify’s enterprise system of intelligence has unleashed an exchange of AI-driven insights among providers, health plans, and life sciences companies. Going forward, our value-based payments platform will enable the transaction of all payments, driving better care decisions, scaling value-based care, improving outcomes, and eliminating waste.”
SoftBank Vision Fund 2 led the funding round and was joined by funds and accounts managed by BlackRock and Memorial Hermann Health System, along with existing investors Insight Partners, Spark Capital, KKR, Aspenwood Ventures, Rivas Capital, and Sigmas Group.
In January 2022, Clarify named Niall Brennan its first chief analytics and privacy officer. He also leads the Clarify Health Institute, which will leverage the company’s data assets to provide thought leadership and partner with academics and policymakers across the industry. He joined Clarify from his prior role as president and CEO of the Health Care Cost Institute, and previously served as the chief data officer at the Centers for Medicare & Medicaid Services.