Healthcare Interactive said Wednesday that it has closed $8 million in Series A funding. Grotech Ventures and Harbert Venture Partners led the round. Rick Kohr of VCA Securities provided financial advice to HCI on the transaction. Also, Chuck Cullen of Grotech Ventures and Brian Carney of Harbert Venture Partners are joining HCI’s board of directors. Based in Glenwood, Maryland, HCI is a healthcare data firm.
GLENWOOD, Md., July 9, 2014 /PRNewswire/ — Today, Healthcare Interactive, Inc. (www.hciactive.com) announced that it has secured $8M in Series A funding led by Grotech Ventures and Harbert Venture Partners.
Healthcare Interactive (HCI) focuses on consuming massive amounts of healthcare data from existing systems in order to present this information, along with analytic measures, in an actionable way. Using patented technology and flexible architecture, the company empowers insurance companies, health systems, and third-party administrators in processing complex benefit designs.
With over $600B in U.S. healthcare spend, Healthcare Interactive’s enterprise healthcare cloud has emerged as a scalable, lower-cost solution solving the integration challenge. Collecting and managing disparate healthcare data sets, HCI seamlessly connects members, physicians, and administrators to the health plan benefit. “Members are making better decisions when all the healthcare information they need is available in a unified and engaging view,” says Henry Cha, CEO of Healthcare Interactive.
In addition to Cha, along with co-founders and original investors Keith Lemer and Harry Kovar, also joining HCI’s Board of Directors are Chuck Cullen of Grotech Ventures and Brian Carney of Harbert Venture Partners.
“The investment and digital health experience provided by Grotech and Harbert accelerates HCI’s rapid growth and its ability to improve efficiency and lower the cost of health care,” said Keith Lemer, co-founder of Healthcare Interactive.
Rick Kohr of VCA Securities LP acted as financial advisor to Healthcare Interactive through the process. Michael Lincoln of Cooley LLP served as legal counsel.
About Healthcare Interactive
Healthcare Interactive is dedicated to the transformation of the administration and delivery of healthcare to improve health in our communities. The Healthspace Cloud is a healthcare platform designed to reduce risk, improve health and contain healthcare costs. We enable our client-partners to effectively leverage their data to identify the health risk and cost drivers of the populations they serve, develop specific programs to engage members and improve outcomes, and provide the administrative tools to deliver, manage and measure the success of those programs. For more information, please visit www.hciactive.com