The funding will be used to further democratize healthcare data and provide improved patient care worldwide.
BE’ER SHEVA, Israel — March 1, 2022 — MDClone, a digital health company, today announced a $63 million Series C round of funding, led by two new investors Warburg Pincus, a leading global growth investor, and Viola Growth, Israel’s leading growth fund, with participation from existing investors aMoon, LightSpeed Venture Partners, and OrbiMed.
MDClone provides clinicians and healthcare professionals with the ability to explore healthcare data independently and without barriers. The MDClone ADAMS Platform is a powerful data analytics environment, encouraging self-service data exploration and action across teams in a healthcare ecosystem – resulting in operational efficiencies, revenue growth and proactive care for patients around the world.
“Our mission from the start was to help the healthcare ecosystem use data to improve care delivery and health. Through our journey, we’ve seen great examples around the world where innovation, passion, and technology combine to drive better outcomes. With our technology and growing customer base, we are focused on continuing our global mission and are excited to accelerate the development of new capabilities and in new markets,” said Ziv Ofek, MDClone Co-Founder and CEO.
With this new round of funding, MDClone plans to accelerate the expansion of its transformative healthcare data solutions by investing in new regional markets, continuing to develop the existing platform and expanding into new vertical markets including Life Science and Real World Evidence (“RWE”). The company will also be hiring a number of key roles as it looks to continue to advance data access and accelerate the power of self-service data exploration.
“We’ve been looking to invest in the digital health space for a while and were fascinated with MDClone and the immense opportunity it brings to the healthcare system by democratization of healthcare data without the risk of exposing individuals’ data. The company has shown great progress in the past year and an even bigger vision that we believe can transform the way doctors around the world can treat patients and improve care,” said Eran Westman, General Partner, Viola Growth.
MDClone has seen strong demand for its data platform including its synthetic data capabilities with revenues more than doubling over the past year thanks to new customers in the U.S. and Canada. Serving major health systems, federal agencies including the VA and NIH, and academic research organizations, MDClone continues to grow and is focused on new regions including Asia Pacific, Europe, and the Middle East.
ABOUT MDCLONE
MDClone offers an innovative, self-service data analytics environment powering exploration, discovery, and collaboration throughout the healthcare ecosystems, cross-institutionally, and globally. The powerful underlying infrastructure of the MDClone ADAMS Platform allows users to overcome common barriers in healthcare in order to organize, access and protect the privacy of patient data while accelerating research, improving operations and quality, and driving innovation to deliver better patient outcomes. Founded in Israel in 2016, MDClone serves major health systems, payers, and life science customers in the United States, Canada, and Israel.
ABOUT VIOLA GROWTH
Viola Growth is a technology growth fund with $725 AUM. The fund focuses on Israeli tech companies at their expansion phase and actively supports them in their journey to becoming global category leaders. Founded in 2008, Viola Growth has invested in 35 companies, among them SimilarWeb, Bizzabo, GlassesUSA, and RapidAPI. The fund is managed by 5 partners with extensive hands-on experience and has offices in TLV and NY. www.viola-growth.com.
ABOUT WARBURG PINCUS
Warburg Pincus LLC is a leading global growth investor. The firm has more than $73 billion in assets under management. The firm’s active portfolio of more than 235 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity and 2 real estate funds, which have invested more than $100 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburrgpincus.com. Follow us on LinkedIn.
Source: https://www.mdclone.com/news-press/articles/mdclone-raises-63-million-in-series-c-funding-to-fuel-global-growth