Explorys develops cloud-based data mining and advanced analytics technology for healthcare providers. The platform enables provider systems to better understand patient populations to reduce costs, provide higher-quality care and improve patient outcomes. The company was founded by CEO William F. Borne and is based in Cleveland, OH. Explorys positions itself as a provider of big-data management solutions tailored to healthcare providers. According to the article, the company received an investment from the Healthcare Innovation Fund L.P. that involved additional participation by other healthcare investors. Explorys provides a cloud-computing data platform that aggregates and standardizes electronic health record (EHR) data across disparate systems. The platform is used to discover actionable correlations and trends in treatments and outcomes to improve patient safety, increase quality, and create cost efficiencies in care delivery. Founded in 2009 by CEO Stephen McHale and Charlie Lougheed as a spinout from the Cleveland Clinic, the company works with a network of healthcare systems including Cleveland Clinic, MedStar, Summa Health System, MetroHealth, and University Hospitals. In December 2011 Explorys raised $11.5M in a Series C financing led by Austin Ventures and Foundation Medical Partners, with participation from existing investors Santé Ventures and Cleveland Clinic. The company intends to use the funding to double its workforce in 2011 and 2012 and to triple the size of its server complex as it adds capacity and data centers. Operations are based in Cleveland, Ohio. Explorys provides cloud computing solutions and specialized data services for healthcare data management, analytics and outcomes measurement. The company’s platform aggregates a network of healthcare providers contributing over a billion clinical records updated daily. Explorys launched its platform for healthcare providers in July and plans to offer services to life sciences customers in the fourth quarter of 2010. Founded in 2009 and based in Cleveland, OH, the company focuses on enabling improved treatment, accelerated research and product development, and critical measurement for performance management and drug safety. The funds from the latest financing will be used to continue development of platform technologies, including drug safety detection technologies and third‑party software development interfaces, as well as network development, sales, and marketing. Its customer targets include healthcare providers, biotech, and pharmaceutical companies.

Total raised

$14M

Funding rounds

3

Latest round

Series C

Latest activity

May 2011