Flatiron raises $8 mln in Series A round of funding led by Google Ventures
The developers of an intelligent oncology data platform Flatiron Health has raised $8 million in a Series A round of funding led by Google Ventures with participation from First Round Capital, Laboratory Corporation of America, Great Oaks Capital, The Social+Capital Partnership, SV Angel, IA Ventures and angel investors.
The angels in round include Chris Dixon, Jared Hecht, Ken Fox, Aaron Levie, Jack Abraham, David Tisch, and Ed Zimmerman. As part of funding, Dr. Krishna Yeshwant has joined Flatiron Health’s board.
The company Flatiron Health is the brain child of Invite Media founders Nat Turner and Zach Weinberg. Both the founders sold their bidding exchange software and advertising technology company to Google in 2010 for $80 million.
Post buyout, Turner and Weinberg spent time at Google, but also made angel investments on the side in the healthcare industry and beyond.
The platform allows institutions to monitor their adherence to national cancer care guidelines of care, monitor and benchmark themselves against hundreds of metrics related to cancer care, automate their tumor registry, match patient to clinical trials, in real-time and build new tools on top of the structured database that Flatiron enables. At the basic level, the SaaS provides oncologists and hospitals with a more comprehensive view of their patient population, and what cancers they are facing.
Through the platform, administrators and clinicians gain deep analytics for business and clinical intelligence, resource utilization, treatment patterns, network management and research. One of the Invite Media founders
Mr. Nat Turner’ said, the new funds will be used to expand Flatiron Health’s engineering and product teams. Flatiron Health, which has 12 employees, is in private beta with a select group of providers and other partners in U.S.
The start up has signed on five major hospital systems, including a well-known academic cancer center.
The next step, says Turner, is to see how these pilot programs perform and ready the public beta of the product when the software is ready.