Stratasan, a Nashville-based healthcare data analytics software provider, has closed a $26 million growth funding round led by Fulcrum Equity Partners. Nashville’s Frist Cressey Ventures, along with Blue Heron Capital and Bridge Bank, also participated in the round.
Stratasan helps hospitals and other healthcare providers optimize their business operations and growth with actionable data analytics. Founded in 2010, they currently work with almost 1,000 hospitals across 40 U.S. states.
“The business of operating and growing a healthcare organization can be difficult and complex,” said Philip Lewis, Principal at Fulcrum, in a statement. Fulcrum targets mid-size healthcare, software, and tech-enabled service companies, and is currently investing out of its $200 million Fund III.
“However, with Stratasan’s powerful analytics software tools, administrators and operators are able to make data-driven, fact-based decisions around how to grow their organizations and thrive in a competitive market,” said Lewis.
Hospital executives and marketers use Stratasan’s platform to query things like physician referral patterns, market data, service line ROI, and more. The platform can pull in claims, EMR, Medicare, and payor data to help provide insights.
Essentially, it helps healthcare executives ensure efficiency and maximum revenue generation across their entire organization.
The company plans to use this funding to expand its product offerings and invest in its sales, marketing, and customer success teams.
“We’ve built a customer-first culture, and our entire team is looking forward to providing increased value to our current and future customers through this new investment,” said Jason Moore, Stratasan’s co-founder and CEO, in a statement.
Prior to this funding, Stratasan had raised only $1.2 million in institutional capital, according to Crunchbase. That funding was raised in 2012 and came from XMi High Growth Development Fund.
“The XMi team congratulates Jason and Stratasan on a terrific transaction outcome and on their significant progress to date,” said XMI’s Jim Phillips.
Photos via Stratasan