Valify offers a web-based benchmarking and analytics platform that reveals purchased-services spending across an enterprise in more than 1,200 categories, backed by a monthly-updated proprietary database of hundreds of hospitals and health systems. The product helps healthcare organizations identify wasteful spending, duplicative services and high-cost vendors and supports vendor contract negotiations and revenue cycle management. Since its 2014 seed round, Valify’s client base has grown to 345 hospitals and its headcount has expanded from two to 16 employees. The company will use the new funding to increase R&D, further enhance its offering, expand its footprint and more than double its employee base. Valify positions its product as a tool to help hospitals reduce costs that comprise more than 35% of non-labor budgets and to mitigate portions of the wasteful spending the Institute of Medicine estimated at over $750 billion.

Total raised

$2M

Funding rounds

1

Latest round

Series A

Latest activity

Jun 2016