Smile CDR (doing business as Smile Digital Health), a provider of secure healthcare information exchange solutions, announced the closing of approximately $30 million in Series B growth capital led by existing investors, including UPMC Enterprises.
Including the latest funding round, Smile Digital Health has more than raised $50 million in funding to date. The company previously raised $20 million in Series A funding from investors, including 30 North Group and UPMC Enterprises.
With new funds, the company plans to expand its newly acquired clinical reasoning utility and forward-looking artificial intelligence and machine learning capabilities, further advancing its end-to-end interoperability platform with expanded offerings that enhance the breadth of its data fabric solutions for future digital transformations.
According to the company’s website, Smile Digital Health provides a clinical data repository that enables healthcare providers and organizations to ingest, transform, store, enrich, analyze, aggregate, and share health information with other care providers and health systems.
Commenting on the funding news, Duncan Weatherston, Chief Executive Officer of Smile Digital Health, said: “Our vision for better global health becomes more achievable when we focus on the inherent value of finding innovative ways to efficiently share and use data. Smile Digital Health has seen significant growth in our platform because it does just this. With transformative solutions that can meet companies’ specific needs, we are preparing healthcare providers, payers, researchers, and life sciences organizations for a connected future that transcends the capabilities of today’s systems.”
Health information exchange
According to our database, digital health startups providing health information sharing software have raised more than $2 billion in funding to date. More recently, Sympatic, a provider of a healthcare data sharing platform for healthcare and life sciences companies, received seed funding from Saltagen Ventures and ScaleGood Fund. In another deal, Particle Health, a provider of cloud-based healthcare data exchange solutions, raised $25 million in Series B funding led by Canvas Ventures with participation from Menlo Ventures, Story Ventures and Pruven Capital.