This morning, , a healthcare integration company focused on interoperability, announced that it has raised $8 million in Series B funding, bringing the company’s total financing to $14.5 million. This round was led by LRVHealth with participation from existing investors Bain Capital Ventures and Healthy Ventures.
“Sharing data between disparate EHR systems remains a major challenge – one that I’ve seen firsthand and that strategic investors in our collaborative investing platform deal with every day,” said Keith J. Figlioli, general partner at LRVHealth, said in a statement. “When providers, payers and patients are able to move and integrate data across many sources, health care technology becomes infinitely more valuable for everyone, and that’s why we invested in Sansoro Health. Its technology has had a tremendous impact already, and we’re looking forward to extending and accelerating that impact.”
The company said that this latest funding will be used to help speed up the evolution of its new platform Emissary, an API software platform, designed to help digital health apps integrate with EHRs. One of the main goals of the new system is saving time. The company claims that this new technology could decrease time spent on integrating digital health systems by 75 percent.
“As EHR adoption catalyzes an entirely new digital health IT market, the need for Sansoro Health’s data integration platform is increasingly critical,” said Yumin Choi, managing director of Bain Capital Ventures. “Current data integration solutions are broken. They’re slow, limited in scope and challenging to manage. By offering robust integration that dramatically and consistently reduces implementation time and effort, we believe Sansoro Health has both the product and leadership to dominate in the multi-billion-dollar digital health connectivity market.”
In 2016 the company announced at $1.2 million funding round led by Healthy Ventures. At the time the company said it was going to put the money towards developing and marketing Emissary.
Interoperability has been a longterm issue in the healthcare space and has recently made headlines on the national stage. In fact yesterday at the Blue Button 2.0 Developer Conference at the White House a coalition of technology giants came together to pledge to remove interoperability barriers. Big names such as Amazon, Google, IBM, Microsoft, Oracle and Salesforce were among those pledging their services.
Earlier this year at HIMSS 2018, White House Advisor announced that the Trump Administration has a plan for interoperability. At the time CMS Administrator Seema Verma said that this change will be based on a series of proposed rules that will come by the end of the year and be opened to public comment.