Activate Networks Inc. raised $10 million in a Series B round led by Reed Elsevier Ventures. Existing investor Excel Venture Management, and new investor Premier healthcare alliance also participated. Newton, Mass.-based Activate Networks Inc. is a provider of network analytics for business.
Activate Networks, Inc., the leading provider of network analytics for business, is pleased to announce that it has closed a $10 million Series B financing round led by Reed Elsevier Ventures, along with existing investor Excel Venture Management, and new investor Premier healthcare alliance. Activate Networks enables its clients to leverage their own customer networks to improve sales performance and to optimize their internal networks to build more effective and resilient organizations.
“The financing will allow us to accelerate our growth and maintain our leading position in network analytics for enterprises,” said Activate Networks CEO Larry Miller. “As more companies seek to generate value from their existing Big Data, Activate Networks’ software and predictive analytics will provide a unique and highly valuable network ‘lens’.”
Activate Networks works with a broad range of customers, primarily Fortune 500 organizations, to apply state-of-the-art network science to key business issues. Often using data already present in customer databases, Activate Networks enhances both external and internal performance. By mapping networks of customers and analyzing influence patterns, Activate Networks is able to substantially improve sales while also targeting sales effectiveness and efficiency. By mapping internal networks of employees, Activate Networks helps to improve collaboration, innovation, leadership, and more.
“Reed Elsevier Ventures is committed to investing in companies that can become market leaders,” said Tony Askew, General Partner at Reed Elsevier Ventures. “We invest in groundbreaking analytic technologies in healthcare, technology, information and media. Activate Networks provides an innovative, unique, and proven technology to generate key insights across multiple sectors.”
“Activate Networks enables companies to quickly map and optimize their networks,” said Juan Enriquez, Managing Director of Excel Venture Management and Board Member of Activate Networks. “This has had a real and immediate impact on profits and operations across many industries.”
Activate Networks’ technology is currently in use in life sciences companies, including major pharmaceuticals, hospital systems across the U.S. and in large corporations both in the US and internationally.
“This partnership will help Premier member health systems better support physician alignment, care coordination and the development of new integrated care models,” said Keith J. Figlioli, Senior Vice President of Healthcare Informatics at Premier. “Activate Networks’ leading-edge research and analytics provide our members with the type of unique insights into care delivery needed to lower costs and improve quality.”
About Activate Networks, Inc.
Activate Networks, Inc., is the leading provider of network analytics for business that identifies and provides insights about the key social connections that drive commercial, organizational, and health results. Activate Networks’ analytics platform and suite of applications enable organizations to unlock the commercial value of their customer, prospect, and employee real-world social networks.
Activate Networks’ analytics platform is based on groundbreaking social-science research by the recognized leaders in network science, including Professor Nicholas Christakis, MD, PhD, MPH, of Harvard University; Professor James Fowler, PhD, of UC San Diego; and Professor Rob Cross, DBA, of the University of Virginia. The company combines its access to this intellectual property with recently available computing power. The result is vastly improved precision in mapping social connections, targeting key influencers, conducting campaigns, and improving organizational effectiveness.
More information can be found at www.activatenetworks.net .
About Reed Elsevier Ventures Reed Elsevier Ventures is a venture capital firm with offices in London and San Francisco, backed by one of the world’s most successful media and information companies, Reed Elsevier. Its mission is to invest in entrepreneurs and management teams that have the vision to build great companies.
More information can be found at http://www.reedelsevier.com/aboutus/ventures .
About Excel Venture Management Excel Venture Management builds companies that apply transformative technologies to solve problems in healthcare and beyond. The Excel investment portfolio is balanced across healthcare IT and services, diagnostics, and medical devices, plus life science platforms that address adjacent markets including energy, chemicals, defense and agriculture.
More information can be found at http://www.excelvm.com .
About the Premier healthcare alliance, a Malcolm Baldrige National Quality Award recipient Premier is a performance-improvement alliance of more than 2,700 U.S. hospitals and 90,000 other sites using the power of collaboration and technology to lead the transformation to coordinated, high-quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier operates a leading healthcare purchasing network with more than $4 billion in annual savings. Premier also maintains the nation’s largest clinical, financial and outcomes database with information on 1 in 4 patient discharges. Headquartered in Charlotte, N.C., Premier also has an office in Washington.