Series B round, led by LRVHealth with participation from Bain Capital Ventures and Healthy Ventures, will fuel continued growth and product evolution
MINNEAPOLIS (August 14, 2018) – Sansoro Health, Inc., a pioneer in data integration for health care, today announced an $8 million Series B investment led by LRVHealth, with participation from existing investors Bain Capital Ventures and Healthy Ventures. The funding will accelerate the adoption and evolution of its Emissary® software platform, which facilitates robust integration of digital health applications with electronic health records (EHRs). Sansoro Health has raised a total of $14.5 million.
Lack of EHR interoperability poses a significant challenge contributing to rising costs and inefficient care, while hindering digital health innovation. Only six percent of health care providers say they can effectively access EHRs between different systems, according to a study by KLAS Research. Underscoring the importance of these challenges, the recent announcement by the Centers for Medicare and Medicaid Services (CMS) aligns payment and reporting requirements with greater interoperability. Further, CMS is emphasizing the use of application programming interface (API) technology as a way to solve these problems without requiring special effort on the part of providers. Sansoro Health meets these challenges today by offering health IT innovators turnkey API integration with major EHR systems.
“We are fortunate to have LRVHealth as a partner to support our vision to unleash the power of health data,” said Jeremy Edes Pierotti, CEO of Sansoro Health. “LRVHealth’s team and its network of health care industry investors will help us grow even faster and build on our success in delivering a practical, efficient and scalable solution for EHR integration.”
“Sharing data between disparate EHR systems remains a major challenge – one that I’ve seen firsthand and that strategic investors in our collaborative investing platform deal with every day,” said Keith J. Figlioli, general partner at LRVHealth. “When providers, payers and patients are able to move and integrate data across many sources, health care technology becomes infinitely more valuable for everyone, and that’s why we invested in Sansoro Health. Its technology has had a tremendous impact already, and we’re looking forward to extending and accelerating that impact.”
“As EHR adoption catalyzes an entirely new digital health IT market, the need for Sansoro Health’s data integration platform is increasingly critical,” said Yumin Choi, managing director of Bain Capital Ventures. “Current data integration solutions are broken. They’re slow, limited in scope and challenging to manage. By offering robust integration that dramatically and consistently reduces implementation time and effort, we believe Sansoro Health has both the product and leadership to dominate in the multi-billion-dollar digital health connectivity market.”
Giving Digital Health Partners Freedom to Innovate
Advanced health IT applications like telehealth, precision medicine, and patient engagement require true interoperability to operate efficiently at scale. Sansoro Health’s Emissary platform removes the biggest barriers to high performance today by liberating health data with a powerful universal API. This allows health IT innovators to spend less time on the tedious work of integration and focus more on developing transformative products.
Sansoro Health estimates its digital health partners reduce integration efforts by as much as 75 percent. In addition, they deploy applications 80 percent faster and dramatically reduce the burden on hospital systems’ IT staff. One customer reports that Emissary has reduced implementation time by over 200 hours per hospital. Another says Sansoro Health’s technology makes its pharmacists 200 percent more productive.
As part of LRVHealth’s investment, Keith Figlioli will join Sansoro Health’s Board of Directors, which also includes Yumin Choi, Managing Director of Bain Capital Ventures, and Omar Hussain, CEO of Placester and former Imprivata CEO.
About Sansoro Health
Sansoro Health solves health IT’s most pressing challenge today – achieving secure, seamless data exchange between electronic health records (EHRs) and leading-edge clinical and administrative applications. Health IT innovators leverage Emissary®, Sansoro Health’s award-winning software platform, to install swiftly, deliver robust functionality and slash integration resources. Sansoro Health believes deeply in the power of innovation and collaboration to usher in the next generation of health care. To learn how Emissary creates agile integration, visit sansorohealth.com.
LRVHealth is an “Inside Healthcare” venture capital platform that was established in 2000 by an experienced team of healthcare investors, operators, and advisors. LRVHealth’s investors include leading provider, payer, and vendor organizations who collaborate to identify, invest in, and adopt innovative solutions to the industry’s most pressing needs. The LRVHealth team provides early stage capital, operating experience, and industry insights to build the next generation of great healthcare companies.
About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in enterprise software, infrastructure software, healthcare, and industries being transformed by data. Bain Capital Ventures has helped launch and commercialize more than 200 companies since 1984, including DocuSign, Jet.com, Kiva Systems, LinkedIn, Rapid7, Rent the Runway, SendGrid, SurveyMonkey, Taleo, Turbonomic, and TellApart. Health care investments include Ability Networks, AbleTo, Doc Halo, Humedica, Liazon, Liberty Dialysis, MedeAnalytics, MedHOK, MinuteClinic, Sansoro Health, and Vetsource. Bain Capital Ventures has approximately $3.9 billion of assets under management with offices in San Francisco, Palo Alto, New York, and Boston. Follow the firm via LinkedIn and Twitter.
Jessica Kelley, Director of Marketing
fama PR on behalf of LRVHealth
Jennifer Jones & Partners on behalf of Bain Capital Ventures