Flatiron Health raises a large venture capital round, a big piece of which will be used to buy an electronic records management company.
FORTUNE — Flatiron Health, a New York-based cloud platform for oncology clinical, practice management and billing data, today announced that it has raised $130 million in Series B funding led by existing investor Google Ventures. Other backers include First Round Capital and LabCorp LH .
Some related notes:
1. Yes, this is the transaction that Erin Griffith first sniffed out last week.
2. Word is that around half of the proceeds will be used for the Altos purchase, which is largely cash. No comment on this from the company, catch.
3. Flatiron will continue to be EMR agnostic, despite buying Altos. The comparison I heard was how the Flatiron founders previously created Invite Media, an exchange-agnostic ad-tech play that was bought by Google GOOG – but which continued to work with others. Same general theory, since Flatiron gains the most value by increasing its data
4. Expect Flatiron to try doubling its 30-person staff this year, while Altos also will have flexibility to grow (it currently has around 60 employees).
5. I really am fascinated by these sorts of companies – both ones working to centralize/analyze clinical data and also published research. What I do wonder, however, is if there will eventually be some sort of meta-big data engine that tries to sit on top of companies like Flatiron. Almost like Kayak and others did with travel. Obviously not apples-to-apples, but there are some similarities…
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