Total amount raised
$7 Billions
Latest funding date
7/1/2021
Location
Datavant has successfully raised significant funding across multiple rounds, with notable investors such as Roivant Sciences and Transformation Capital. The company focuses on protecting, connecting, and delivering health data to improve decision-making and advance human health.
Keep reading to explore the intricacies of Datavant's fundraising journey and the investors backing this innovative platform.
What Is Datavant?
Datavant, founded in 2017 by Sam Roosz and Travis May, is headquartered in Phoenix, Arizona. The company specializes in making health data secure, accessible, and usable through its proprietary platform and network.
Datavant's solutions enable the secure exchange and transformation of health data, facilitating the movement of over 60 million healthcare records among thousands of organizations. Their products, such as Datavant Connect and Privacy Hub, ensure compliance with privacy regulations while enhancing data connectivity.
With a workforce of 5001-10000 employees, Datavant continues to drive innovation in the healthcare ecosystem, supporting hospitals, clinics, and real-world data partners in their data connectivity efforts.
How Much Funding Has Datavant Raised?
- Venture Round
- Amount Raised: $40.5M
- Date: April 2018
- Lead Investors: Roivant Sciences, Travis May
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance Datavant's platform for secure health data exchange.
- Series B
- Amount Raised: $40M
- Date: October 2020
- Lead Investors: Transformation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the open healthcare data ecosystem and reduce friction in data exchange.
Total Amount Raised: $80.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Transformation Capital
- Details: Transformation Capital is a growth equity firm focused on commercial-stage digital health and technology-enabled services companies. They manage over $800 million in assets and have invested in 15 innovative companies across two funds.
- Investment Focus Areas: Digital health, technology-enabled services, healthcare.
- Notable Investments: Not publicly disclosed.
- Roivant Sciences
- Details: Roivant Sciences is a biopharmaceutical company that builds biotech and healthcare technology companies to deliver innovative medicines and technologies. They focus on improving health outcomes through their unique approach to drug development.
- Investment Focus Areas: Biotech, healthcare technology, pharmaceuticals.
- Notable Investments: Not publicly disclosed.
- Travis May
- Details: Travis May is one of the founders of Datavant and has been instrumental in its growth and development. He has a background in data connectivity and privacy, which has been crucial for Datavant's mission.
- Investment Focus Areas: Health data, data privacy, technology.
- Notable Investments: Not publicly disclosed.
- Johnson & Johnson Innovation - JJDC, Inc.
- Details: Johnson & Johnson Innovation - JJDC, Inc. is the venture capital arm of Johnson & Johnson, focusing on healthcare innovation and investment in life sciences. They aim to accelerate growth and innovation in the healthcare sector.
- Investment Focus Areas: Life sciences, healthcare innovation, medical devices.
- Notable Investments: Not publicly disclosed.
- Cigna Ventures
- Details: Cigna Ventures is the strategic venture capital arm of Cigna, focusing on accelerating growth and innovation in healthcare. They invest in companies that align with their mission to improve health outcomes.
- Investment Focus Areas: Healthcare innovation, health technology, digital health.
- Notable Investments: Not publicly disclosed.
What's Next for Datavant?
Datavant stands at the cusp of a significant opportunity to expand the open healthcare data ecosystem. With the recent $40 million Series B funding, the company is poised to reduce friction in data exchange and enhance patient care. The ecosystem, already comprising over 350 institutions, offers a vast landscape for growth, including partnerships with pharmaceutical companies and healthcare organizations.
Future fundraising seems promising as Datavant continues to attract high-profile investors like Johnson & Johnson Innovation - JJDC, Inc., and Cigna Ventures. However, challenges such as managing data privacy, overcoming regulatory hurdles, and ensuring the trust of data holders remain. Navigating these obstacles will be crucial for Datavant's sustained success and expansion.
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