Core Informatics, a developer of data management software used to accelerate scientific innovation, today announced it closed a $17.5 million Series B funding led by Oak HC/FT, a premier growth-equity fund focused on healthcare information and financial technology. Existing investors also participated in the round.
Andrew Adams, a general partner at Oak HC/FT who will join Core’s board of directors, explained:
“Drug discovery, molecular diagnostics, and other scientific domains are seeing tremendous transformation and yet the industry still lags in terms of software solutions to support this important work. Core Informatics is closing that gap by bringing the same transformational approach enabled by innovative cloud-based solutions to this market that we’ve seen create tremendous value in other healthcare markets by improving patient outcomes and human health.”
Josh Geballe, Core Informatics CEO, added:
“The team at Oak HC/FT has an amazing track record of identifying emerging leaders across numerous segments of the healthcare industry and we are thrilled to welcome their support at this time of our rapid growth. This round of capital will equip us to meet the strong demand for our software solutions and enable more scientific organizations to accelerate their operations and get products to market faster and more efficiently.”
Core Informatics has tripled in size in just over a year by providing flexible, web-based solutions to manage and analyze scientific data, automate laboratory workflows and collaborate with external partners. Core’s unique architecture is based on the Platform for Science, a Scientific Platform-as-a-Service available in the Cloud or on-premises, designed to empower users to quickly extend and configure their data management system to meet their evolving workflows without the need for custom coding.
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