Catalyze, a startup founded in 2013 that provides cloud hosting and data integration services for healthcare organizations, raised $6.5 million in a Series B round of fundraising.
The financing round brings the Madison, WI-based company’s total funding to $12.5 million. The round was led by Lewis and Clark Ventures of St. Louis. Other investors included Arthur Ventures, Baird Venture Partners, and Chicago Ventures, all of which have previously invested in Catalyze.
The company said the cash infusion will allow it to grow its core healthcare integration and hosting products and services as well as expand sales and marketing efforts focused on enterprise customers, such as hospital systems, pharmaceutical companies and payers.
“It’s been an exceptional year for Catalyze, with strategic team hires that came with the highest government and enterprise security credentials, an appointment to the first HITRUST Business Associate Council, along with a rapidly expanding roster of customers,” Dr. Travis Good, the company’s CEO, said in a statement. “Those customers have offered our team the unique opportunity to solve a multitude of data exchange challenges that fall outside of traditional standards. With the financial support and domain expertise of Lewis & Clark Ventures and our other investors we look forward to introducing more key healthcare solutions in 2017.”
Catalyze touts its Stratum system as the first HIPAA-compliant and HITRUST CSF Certified software infrastructure that features a complete set of modules to handle, store and transmit patient health information securely in the cloud.