One of the predictions I made for 2013 was that this would be the year that health IT becomes a major sector in Boston, as the city is strong in both of its components. That trend starts today, with Boston-based big data health startup Kyruus raising $11 million in Series B funding.
If you’ve ever struggled to find a new doctor, you’re familiar with the company’s focus. It is creating a database of physicians in order to help healthcare organizations—not patients—maintain physician networks, build out referral networks and comply with regulations. In other words, it helps healthcare organizations keep track of each other and of the physicians within those organizations.
The round was led by Lux Capital and joined by Fidelity Biosciences, along with existing investors Venrock and Highland Capital. Founded in 2010, the company’s total raised is now $19.6 million.
“Large healthcare organizations are by nature extraordinarily complex,” said Robert Paull, managing general partner at Lux Capital. “Kyruus solves difficult data problems–providing customers with the clarity to make more informed decisions. Lux is excited to help a remarkable group of entrepreneurs build a defining healthcare information company.”
I’m looking forward to seeing more deals like this in 2013. Our deficit problem is really a healthcare costs problem, and we’re badly in need of innovative solutions to solve it.