Cota, a healthcare data analytics company, raised $40 million in series C financing. The company said the funds will be used to advance its Cota Nodal Address (CNA) disease classification system.
The round of funding was led by IQVIA. EW Healthcare Partners was also a major participant. Joining in the funding round were Boston Millennia Partners, Horizon Blue Cross Blue Shield of New Jersey, Hackensack Meridian Health and Atoc Holdings.
The company said the money will be used to scale its product across providers, payers and life science companies. The company describes its CNA product as a “precision disease classification system” developed using comprehensive real-world data.
"With our CNA classification system and powerful analytics, we are confident that Cota will revolutionize both patient care and healthcare economics,” John Hervey, Cota’s chief executive, said in a statement. “The depth and richness of our real-world evidence set empowers life sciences companies to gain new insights into their compounds, accelerate market applications and support clinical trials.”
As the lead in the round, IQVIA received a seat on Cota's board of directors.