Healthcare Interactive Announces $8M Series A Funding Led by Grotech and Harbert Venture Partners
GLENWOOD, Md., July 9, 2014-- 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.
For more information, please contact Kristen Thomaselli at (202) 471-4228 ext. 101 or Email
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
About Grotech Ventures
Founded in 1984, Grotech Ventures is a leading early investor in high-potential technology companies. With more than $1.3B under management, Grotech seeks innovative, early-stage IT companies and continues to invest and add value throughout the growth of its portfolio companies. The firm has a strong combination of industry relationships and deep domain and operational expertise to accelerate growth. Grotech supports early-stage companies through investments starting at $500,000. General partners include Frank Adams, Chuck Cullen, Lawson DeVries, Steve Fredrick, Don Rainey and Joe Zell. The firm has offices in Virginia, Maryland and Colorado. For more information, please visit www.grotech.com
About Harbert Venture Partners
Harbert Venture Partners ("HVP") is an emerging growth stage investor in technology and healthcare companies in the Midatlantic and Southeastern United States. HVP manages approximately $200 million in capital commitments and is currently actively investing Harbert Venture Partners III. Active HVP portfolio companies include Clarabridge, Clinipace, ControlScan, IngagePatient, Invincea, Kaleo, MobilePosse, nContact, Netsertive, OpenQ, PeopleMatter, Racemi, WellCentive and WiserTogether. For more information, please visit www.harbert.net
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