Venture capital firm Cross Atlantic Capital Partners has invested USD4m in a USD6.1m series B financing for Health Market Science, a data and analytics provider for the healthcare industry.
Cross Atlantic led the round with follow-on investments from other institutional investors, including Edison Venture Fund.
Health Market Science is a source for healthcare provider data, software and regulatory compliance solutions in the US.
The investment will enable the company to accelerate development of its technology platform and compliance solutions.
“We believe the company’s data products and services help solve complex business challenges at the core of all healthcare company operations,” says Richard Fox, managing director at Cross Atlantic Capital Partners. “Based on the demand for Master Data Management and compliance solutions that leverage trusted data sources, this investment should improve Health Market Science’s ability to expand their industry leading data management platform.”
Fox will join the board of directors. He oversees the activities of The Co-Investment 2000 Fund and The Co-Investment Fund II. He also serves on the boards of Interactions Corporation, First Service Networks and BPL Global.