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Carta Healthcare Closes Series A Funding to Accelerate Growth

·3 min read

Investment enables the company to meet the growing demand for AI-Assisted data abstraction in healthcare

Carta Healthcare, a provider of AI-powered clinical data abstraction technology and services, is pleased to announce a recent $17.3M Series A investment led by Storm Ventures. AI Digital Innovation Fund (affiliated with Mass General Brigham), CU Health Innovation Fund (affiliated with University of Colorado Anschutz Medical Campus), Asset Management Ventures, Maverick Ventures, Healthy Ventures, Waterline Ventures, Seven Peaks Ventures, Katalyst Ventures, and Atypical Ventures also participated in the round.

Carta Healthcare uses industry-leading artificial intelligence (AI) technology to collect, analyze, and act upon clinical data. Through natural language processing and machine learning, Carta’s technology dramatically reduces the labor associated with manual data abstraction processes typically required to curate trustworthy, actionable datasets. By transforming the abstraction process and layering powerful analytic capabilities, Carta fuels data-driven healthcare decisions that improve patient care. The funding will be used to expand the expert clinical and technical team, who are working to make healthcare data actionable. Further, the funding will enable new partnerships, finding new ways to leverage data for better patient health.

"Using data to improve patient care has always been the mission for our team and the reason we launched this venture in 2017," said Matt Hollingsworth, CEO and co-founder of Carta Healthcare. "Our commitment to this mission brought together a motivated and uniquely qualified team that turned our vision into a reality. The effectiveness of the solutions we built has led to our significant growth over the past year, and we plan to use this new investment to bring our solution to new partners. This investment further validates the need to have trustworthy, actionable data to drive improvements in healthcare and will allow us to deliver on our ultimate promise — to make people healthier."

Storm Ventures is an early-stage, B2B-focused venture firm specializing in building enterprise leaders. "The leaders at Carta have decades of combined experience understanding the nuances of healthcare delivery," said Arun Penmetsa, partner at Storm Ventures. "As a result, they have built an incredible platform to unlock the value of health data. We’re thrilled to join them in this journey."

Maverick Ventures is a global investment firm for early-stage companies. Maverick’s Ambar Bhattacharyya adds, "Having worked with Carta over the past two years, we are excited to continue supporting the team as it reaches its next stage of growth. The company is a great example of how passion and innovation can come together and solve problems faced by the healthcare industry."

AMV is an early-stage venture capital firm specializing in digital health and an existing investor in Carta. Skip Fleshman, partner at AMV, adds, "We have a long history of identifying emerging trends and opportunities in the digital health space, and we believe the team at Carta offers a truly differentiated approach to removing the existing friction in data collection and normalization. We look forward to helping them build on their current success."

About Carta Healthcare

Founded in 2017, Carta Healthcare’s mission is to harness the value of clinical data to improve patient care. Through its industry-leading, AI-driven technology, Carta Healthcare supports the healthcare data registry market by transforming the previously manual clinical data abstraction process. Carta’s technology allows healthcare organizations to collect, analyze, and act on their data, creating a quality, trustworthy dataset whose value fuels data-driven decisions that ultimately improve care delivery. For more information, visit www.carta.healthcare or contact us at hello@carta.healthcare.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210407005359/en/

Contacts

Kristi Lee-John for Carta Healthcare
Phone: 919-270-8054
Email: klee@crossroadsb2b.com