Stratasan Secures $26 Million in Funding to Advance Healthcare Data Management and Analytics Solutions

On July 10, 2019, VCBeat (WeChat ID: vcbeat) learned that Stratasan, a medical data analytics software company, announced the completion of a $26 million financing round. The round was led by Fulcrum Equity Partners, with participation from Frist Cressey Ventures, Blue Heron Capital, and Bridge Bank. Stratasan will use the proceeds to further expand its product offerings and invest in its marketing and customer teams.

Upon the closing of this financing round, Ken Walters, former President of medical software company Infor, and Jim Riley, former CEO of healthcare services company Capario, will join the Board of Directors of Stratasan. Meanwhile, Jim Phillips and Steve Geringer from XMi High-Growth Development Fund, and Nancy Allen from Rolling Hills Capital, will exit following the completion of this round.

Stratasan was founded on September 1, 2010, and is headquartered in Nashville, Tennessee, USA. Stratasan was established to improve how hospitals and health systems leverage data for strategic growth. Stratasan provides market intelligence to hospitals and healthcare systems, enabling them to make better strategic growth decisions.

As a business development intelligence center, Stratasan provides the foundation for growth in areas such as strategic planning, marketing, physician relations, and expansion. Stratasan offers payers access to All-Payer Claims Database (APCD) data and manages, aggregates, and integrates U.S. state-level, EMR, and Medicare data within its software platform. Stratasan partners with nearly 1,000 hospitals across 40 states, helping them formulate strategic plans and achieve operational efficiency and effectiveness.

“We have built a customer-centric culture, and our entire team looks forward to delivering greater value to our current and future customers through this new investment. I also want to thank our investors and the TNInvestCo program for helping us achieve what we have today,” said Jason Moore, Co-founder and CEO of Stratasan.

Philip Lewis, head of Fulcrum, stated, “Operating and growing a healthcare organization can be difficult and complex; however, with Stratasan’s powerful analytics software tools, administrators and operators are able to grow their companies in a highly competitive market and make informed decisions based on data analysis and facts.”

“Stratasan’s market solutions provide healthcare organizations with the intelligence they need to make informed strategic decisions and allocate resources appropriately. This enables these institutions to focus on delivering high-quality patient care. Stratasan’s offerings are best-in-class, and its data and analytics decision-support products are essential for most healthcare organizations,” said Bill Frist, MD, Partner at Frist Cressey Ventures.

Fulcrum Equity Partners was established on June 1, 2006, and is headquartered in Atlanta, Georgia, USA. Fulcrum Equity Partners is a growth equity firm dedicated to investing in companies in high-growth sectors such as SaaS, technology-enabled services, healthcare services, and healthcare IT. To date, Fulcrum has raised over $280 million across three funds and invested in more than 30 companies.

Frist Cressey Ventures, founded in 2016 and headquartered in Nashville, Tennessee, USA, is a venture capital firm dedicated to accelerating the growth of high-potential healthcare companies through value-added partnerships. The firm provides funding to technology- and service-driven enterprises with viable solutions aimed at enhancing care quality, system integration, patient outcomes, and population health.

Blue Heron Capital was founded in 2006 and is headquartered in Richmond, Virginia, USA. Blue Heron Capital is an operations-focused private investment firm dedicated to investing in small growth-equity companies in the healthcare and technology-enabled sectors.

Bridge Bank was established in May 2001 and is headquartered in San Jose, California, USA. Bridge Bank specializes in providing financial solutions to emerging and late-stage technology companies across the United States, with offices nationwide. The company collaborates with both venture capital-backed and non-venture capital-backed firms, from their startup phase through their initial public offering (IPO) and beyond. Bridge Bank is a division of Western Alliance Bank, which is FDIC-insured and recognized as one of the top-performing banking companies in the United States.

(Compiled by Cheng Tao)