Total amount raised
$515 Millions
Latest funding date
1/1/2025
Location
Truveta has successfully raised $320 million over multiple funding rounds, achieving a valuation of over $1 billion. The platform offers comprehensive Electronic Health Record (EHR) data for scientific research, collaborating with various health systems and industry leaders.
Keep reading to explore the intricacies of Truveta's fundraising journey and the investors backing this innovative healthcare data platform.
What Is Truveta?
Founded in 2020, Truveta is a healthcare data platform based in Bellevue, Washington. The company was established by Terry Myerson and focuses on leveraging Electronic Health Record (EHR) data for scientific research and healthcare improvement.
Truveta collaborates with physicians, life science researchers, and other healthcare professionals to compile comprehensive medical records. This collaboration helps connect treatments with outcomes and various health factors, providing valuable insights for the healthcare community.
With a team of 251-500 employees, Truveta offers a range of products and services, including Truveta Studio, Truveta Data, and the Truveta Language Model, all aimed at enhancing healthcare research and patient care.
How Much Funding Has Truveta Raised?
- Series A
- Amount Raised: $95M
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and expansion of Truveta’s health data platform.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: September 2021
- Lead Investors: Microsoft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build Truveta’s platform on Microsoft’s Azure cloud platform.
- Venture Round
- Amount Raised: $100M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue building out Truveta's data platform.
- Series C
- Amount Raised: $320M
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To advance Truveta's healthcare data platform and expand data offerings.
Total Amount Raised: $515M. Current Valuation: Over $1 billion.
Key Investors
- Microsoft
- Details: Microsoft is a global technology company headquartered in Redmond, Washington. It is known for its software products, including the Windows operating system and the Office suite.
- Investment Focus Areas: Cloud computing, artificial intelligence, healthcare data platforms.
- Notable Investments: OpenAI, LinkedIn, GitHub.
- Northwell Health
- Details: Northwell Health is a not-for-profit healthcare network based in New York. It is the largest healthcare provider and private employer in New York State.
- Investment Focus Areas: Healthcare services, medical research, patient care.
- Notable Investments: Not publicly disclosed.
- Advocate Health
- Details: Advocate Health is a leading healthcare system in the United States, providing a wide range of medical services. It operates numerous hospitals and outpatient centers.
- Investment Focus Areas: Healthcare services, clinical research, patient care.
- Notable Investments: Not publicly disclosed.
- Illumina
- Details: Illumina is a biotechnology company based in San Diego, California. It specializes in genomic sequencing and array-based technologies.
- Investment Focus Areas: Genomic sequencing, personalized medicine, biotechnology.
- Notable Investments: Grail, Adaptive Biotechnologies, Twist Bioscience.
- Regeneron Pharmaceuticals
- Details: Regeneron Pharmaceuticals is a leading biopharmaceutical company headquartered in Tarrytown, New York. It focuses on the discovery, development, and commercialization of medicines.
- Investment Focus Areas: Biopharmaceuticals, genomic research, clinical trials.
- Notable Investments: Alnylam Pharmaceuticals, Intellia Therapeutics, Decibel Therapeutics.
What's Next for Truveta?
Truveta stands at the forefront of healthcare data analytics, with opportunities to provide real-time insights on conditions like COVID-19 and rare diseases. By partnering with more health systems, the platform can expand its data pool, offering researchers a robust tool for custom studies. Representing over 16% of U.S. clinical care, the potential impact is vast.
Future fundraising seems promising, with the possibility of attracting more investments to enhance the platform's capabilities. However, challenges such as ensuring data privacy, integrating diverse EHR systems, and maintaining data accuracy could pose significant hurdles. Navigating these will be crucial for Truveta's continued success.
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