Flatiron Health has successfully raised $328 million over three funding rounds, achieving a valuation of over $1 billion. The company is dedicated to transforming the infrastructure of cancer care through innovative solutions.
Keep reading to explore the intricacies of Flatiron Health's fundraising journey and the investors backing this transformative platform.
What Is Flatiron Health?
Flatiron Health, founded by Nat Turner and Zach Weinberg, is a healthcare technology company based in New York City. Established to accelerate cancer research and improve patient care, the company connects various stakeholders in the oncology field through a shared technology platform.
Flatiron Health develops products that link community oncologists, academics, hospitals, life science researchers, and regulators to learn from the experience of every cancer patient. The company is dedicated to reimagining the infrastructure of cancer care by designing better clinical trials, accelerating drug development, and powering smarter care.
With a workforce of 501-1000 employees, Flatiron Health continues to grow and innovate in the healthcare technology sector. For more information, visit their Wellfound profile or their official website.
How Much Funding Has Flatiron Health Raised?
- Series A:
- Amount Raised: $8,000,000
- Date: January 2013
- Motivation Behind the Round: Typically used for scaling product development and market entry.
- Series B:
- Amount Raised: $130,000,000
- Date: May 2014
- Lead Investors: Google Ventures
- Motivation Behind the Round: To acquire Altos Solutions and expand data aggregation and analysis capabilities in oncology.
- Series C:
- Amount Raised: $190,000,000
- Date: February 2016
- Motivation Behind the Round: For further scaling, product diversification, and preparing for potential IPO or acquisition.
Total amount raised: $328M. Current valuation: $1B+.
Key Investors
- Google Ventures
- Details: Google Ventures is the venture capital investment arm of Alphabet Inc. It focuses on funding innovative startups across various sectors.
- Investment Focus Areas: Healthcare, technology, life sciences
- Notable Investments: DNAnexus, Foundation Medicine, Predilytics
- First Round Capital
- Details: First Round Capital is an early-stage venture capital firm that specializes in seed-stage investments. They have a strong track record of supporting startups from their inception.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Uber, Square, Warby Parker
- Laboratory Corporation of America
- Details: Laboratory Corporation of America, also known as LabCorp, is a leading global life sciences company. They provide comprehensive clinical laboratory services.
- Investment Focus Areas: Life sciences, clinical laboratory services, diagnostics
- Notable Investments: Covance, Sequenom, Chiltern
- Angel Investors
- Details: Angel investors are individual investors who provide capital for startups, often in exchange for ownership equity or convertible debt. They play a crucial role in the early stages of a company's development.
- Investment Focus Areas: Various industries, including technology, healthcare, consumer products
- Notable Investments: Not specified
What's Next for Flatiron Health?
Flatiron Health stands at the cusp of significant opportunities, particularly in expanding its user base and enhancing its technology platform. The acquisition of Altos Solutions has already added 1,300 medical professionals to its network, and the company plans to hire more engineers to support this growth. This expansion positions Flatiron Health to further improve cancer care through data aggregation and analysis, aligning with industry trends that emphasize big data and cloud-based solutions in healthcare.
Future fundraising opportunities seem promising, given the substantial investment from Google Ventures and other key investors. As Flatiron Health continues to scale, additional funding rounds could be on the horizon to support further technological advancements and potential acquisitions. However, challenges such as integrating new technologies, scaling the platform, and ensuring data privacy and security in a highly regulated industry remain critical hurdles that the company must navigate.
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