Abacus Insights, a leader in data management and interoperability solutions for healthcare payors, announced it has raised a $28 million Series C round from new and returning investors. The latest round was led by new investor, MultiPlan Corporation (NYSE:MPLN) (“MultiPlan”), a leading value-added provider of data analytics, cost management, and payment and revenue integrity solutions to the U.S. healthcare industry. MultiPlan is joined in this investment by returning investors Blue Venture Fund, CRV, .406 Ventures, Horizon Healthcare Services Inc., and Echo Health Ventures.
“This new funding validates our company’s mission, which is to help health plans liberate health data,” Dr. Minal Ptel, founder and CEO Abacus Insights, said.. “Doing so empowers consumers to make better health choices and physicians to make more informed treatment decisions. The platform also allows payors to increase efficiency and lower costs, which helps their members. MultiPlan’s leadership in data analytics and data management is why we are proud to be their partner. They serve nearly every payer in the country. MultiPlan shares our belief that better data means better care, and this investment represents an important step in achieving our goal to make healthcare more personalized and cost-effective for every individual.”
Abacus’s comprehensive technology platform enables healthcare payors to achieve and accelerate initiatives across their core priority areas, including value-based care, member engagement and digital transformation. Series C funds will help to scale the business and increase the connections and capabilities of its technology platform. They also allow the company to add technology talent to its workforce. The financing brings the Boston-based company’s total venture backing to $81 million.