Navigation Links
PurpleLab Raises $3 Million in Growth Financing from Edison Partners
Date:8/8/2019

PurpleLab, a healthcare data and analytics platform, today announced raising $3 million in growth financing from Edison Partners. PurpleLab will use the capital to bolster its analytics capabilities and sales and marketing operations.

Provider profiling and medical terminology master data management represents a $2 billion-plus market in the U.S. PurpleLab leverages its data and analytics technology platform to help health plans, healthcare providers, as well as life science organizations to model and measure episodes of care. PurpleLab utilizes medical and prescription claims data to produce objective, quantitative, and predictive performance measures for 1.8 million healthcare providers across the nation.

“Outcomes and costs are the most important metrics in healthcare today. Our platform harmonizes medical terminologies and provider reference data to help researchers and analysts gain predictive insights into provider-level outcomes and costs before they happen,” said Mark Brosso, founder and CEO of PurpleLab. “With this funding from Edison Partners, we will further scale our technology and accelerate our sales and marketing efforts.”

PurpleLab’s self-service model features on-demand predictive analysis in a fraction of the time and cost compared to other B2B healthcare information companies, which rely heavily on human analysts for insights. The company is experiencing significant traction with enterprise clients. The company’s bookings growth is forecast to increase 300% this year.

“PurpleLab has the potential to become an industry leader with a differentiated solution that provides a holistic view of care to better measure outcomes, effectiveness, and cost efficiencies, which is paramount for value-based care models,” said Gregg Michaelson, partner at Edison Partners, who led the investment. “Mark Brosso, who previously founded and led Edison portfolio company Health Market Science, has deep expertise in the industry and repeated successes in healthcare analytics. We’re thrilled to partner with him once again during this next phase of growth.”

About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.

Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.

About PurpleLab
PurpleLab has developed a cloud-based provider analytics platform. The Agile Provider Profiling Platform™ features on-demand, subscription-based access to easy-to-use, yet highly customizable query and report templates all designed to profile and rank providers based on their quantitative performance metrics. For more information visit purplelab.com.

Read the full story at https://www.prweb.com/releases/purplelab_raises_3_million_in_growth_financing_from_edison_partners/prweb16492713.htm.


'/>"/>
Source: PRWeb
Copyright©2019 Vocus, Inc.
All rights reserved


Related medicine news :

1. Water Select® Raises Funds for Teen with Deadly Brain Cancer Known as Glioblastoma
2. This November, Dr. Richard Amato Raises Awareness of the Link Between Diabetes and Gum Disease in Monroe, CT
3. Little Rock Car Dealership Raises Thousands For Breast Cancer Research
4. This November, Dr. Keith Chertok Raises Awareness of the Connection Between Pancreatic Cancer and Gum Disease in Berkeley, CA
5. HIVMA praises passage of the HOPE Act, urges swift enactment into law
6. LLU School of Public Health Alumna Raises Awareness for Women Objectification and Empowerment During the American Public Health Association Film Festival
7. Local Portland Fitness Center Raises Funds for Typhoon Haiyan Relief Aid
8. High School Kicker Joe Giglio Raises $1,777 for Kicking For The Dream to Help Fight Ovarian Cancer
9. High School Kicker Grant Ryerse Raises $526 for Kicking For The Dream to Help Fight Ovarian Cancer
10. Pacific Prime Raises Over $16k for Movember Charity
11. Marketing loans for fertility treatments raises ethical concerns
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/15/2019)... ... August 15, 2019 , ... The ASCP Foundation has ... directly affected by the closure of Hahnemann University Hospital in Philadelphia, which is ... the ASCP Foundation will be making hardship grants of up to $2,500 per ...
(Date:8/15/2019)... ... August 15, 2019 , ... Jon O'Brien, ... for family planning clinics to provide written assurance that they will comply with ... to the Global Gag Rule, the new policy restricts providers and clinics that ...
(Date:8/14/2019)... ... ... Teguar Corporation has claimed the #3719 position on the Inc. 5000 list ... mark of success for some of Americas top companies and has famously been occupied ... 2016 and 2017. This year, Teguar secured a spot on the list for a ...
(Date:8/14/2019)... FORT LAUDERDALE, Fla. (PRWEB) , ... August 14, ... ... for medical scribe and Care Team Assistant support, has earned a place on ... 3,164, this year’s Inc. 500|5000 inclusion marks nearly a decade of ScribeAmerica’s recognition ...
(Date:8/14/2019)... ... , ... New Hampshire-based Vera Roasting Company , makers of the only ... line of CBD-infused coffees with the release of a new higher-dosage organic Wellness ... “We are excited to expand our CBD-infused product lines to include a more potent ...
Breaking Medicine News(10 mins):
(Date:8/14/2019)... ... August 14, 2019 , ... ... research and development of its drug platform GVT (Monosodium Luminol), created to treat ... disease among others. Overwhelming data from multiple animal studies have proven that GVT ...
(Date:8/14/2019)... ... August 14, 2019 , ... Canyon State Veterinary Specialties ... With pet care at the forefront of design, the project includes dedicated spaces ... Twelve exam rooms, office space and a dedicated grieving space round out this ...
(Date:8/14/2019)... R.I. (PRWEB) , ... August 13, 2019 , ... ... how we positively live and age together through the power of play, is ... a recipient of the 2019 Caregiver Friendly® Awards. Today’s Caregiver, the first national ...
Breaking Medicine Technology: