Clarify Health Pulls in $150M to Expand Healthcare Intelligence Offerings
Clarify Health Solutions, a cloud analytics and value-based payment platform, raised $150 million in a Series D funding round on Tuesday. The round was led by SoftBank Vision Fund 2 and will be used to expand Clarify’s intelligence offerings and market adoption.
The healthcare intelligence company uses AI-powered predictions to help healthcare workers make better care decisions. Clarify’s platform Atlas maps over 300 million patient journeys, driving over 18 billion AI-powered predictions and empowering healthcare workers with valuable care insights.
Essentially, Atlas applies “Moneyball-style” analytical methods used to predict baseball games. These methods are used to predict both clinical and financial healthcare outcomes by objectively assessing hospital and clinical performance. With that intelligence, Atlas can make suggestions about what types of care might be most successful for patients while optimizing cost.
Clarify also helps healthcare providers, payers and life science companies answer important business questions. The platform is able to connect clinical performance to financial incentives. By serving holistic insights that encompass the entire healthcare ecosystem, Clarify can enable value-based payments. The company says its product has helped customers simplify contracts, increase performance transparency, identify ways to improve care and incentivize providers to make necessary clinical changes.
“Our mission is to fundamentally improve the way healthcare is paid for and delivered,” Clarify Health CEO and co-founder Jean Drouin said in a statement. “To date, siloed, disparate data and systems have made it extremely difficult to build the trust and transparency needed to accelerate the shift to value. We finally have the AI-driven intelligence that healthcare organizations need to optimize every patient journey and embrace value-based arrangements across providers, payers and life sciences.”
The new funding round comes after a breakout year of growth. In 2021, Clarify experienced over 100 percent revenue growth while serving over 75 of the industry’s largest organizations. Last year, the company also raised a $115 million Series C and acquired Apervita’s Value Optimization Business.
This year, Clarify has closed another acquisition, Embedded Healthcare. Clarify was also recognized as one of Black Book’s top 50 rated emerging healthcare IT vendors and landed on CB Insights’ Digital Health 150 list.
“We founded Clarify because we wanted healthcare organizations and patients to benefit from the big data efficiencies of the banking and consumer industries,” Todd Gottula, co-founder and president of Clarify Health, said in a statement. “Clarify’s enterprise system of intelligence has unleashed an exchange of AI-driven insights among providers, health plans and life sciences companies. Going forward, our value-based payments platform will enable the transaction of all payments, driving better care decisions, scaling value-based care, improving outcomes and eliminating waste.”