Core Informatics to Accelerate Growth with $17.5 Million Venture Investment Led by Oak HC/FT
Funding will enhance Core’s hiring in cloud-based product development and expansion of the Platform for Science Marketplace.
Branford and Greenwich, CT July 7, 2015 Core Informatics, a developer of data management software used to accelerate scientific innovation, today announced it closed a $17.5 million Series B funding led by Oak HC/FT, a premier growth-equity fund focused on healthcare information and financial technology. Existing investors also participated in the funding round.
Drug discovery, molecular diagnostics, and other scientific domains are seeing tremendous transformation and yet the industry still lags in terms of software solutions to support this important work, said Andrew Adams, a general partner at Oak HC/FT who will join Core’s board of directors. Core Informatics is closing that gap by bringing the same transformational approach enabled by innovative cloud-based solutions to this market that we’ve seen create tremendous value in other healthcare markets by improving patient outcomes and human health.
The team at Oak HC/FT has an amazing track record of identifying emerging leaders across numerous segments of the healthcare industry and we are thrilled to welcome their support at this time of our rapid growth, said Josh Geballe, Core Informatics CEO. This round of capital will equip us to meet the strong demand for our software solutions and enable more scientific organizations to accelerate their operations and get products to market faster and more efficiently.
Core Informatics has tripled in size in just over a year by providing flexible, web-based solutions to manage and analyze scientific data, automate laboratory workflows and collaborate with external partners. Core’s unique architecture is based on the Platform for Science, a Scientific Platform-as-a-Service available in the Cloud or on-premises, designed to empower users to quickly extend and configure their data management system to meet their evolving workflows without the need for custom coding. Clients can access apps in the Platform for Science Marketplace, to integrate seamlessly with Core Informatics’ products, including Core LIMS, ELN, SDMS and Core Collaboration,for customers engaged in all phases of scientific product development and innovation.
About Core Informatics
Core Informatics provides the industry’s leading Scientific Platform-as-a-Service (sPaaS), including web-based LIMS, ELN, SDMS products that help scientists decrease complexity and increase efficiency while automating laboratory workflows and facilitating collaborations to derive more value and insight from their data. With dozens of major companies and thousands of scientists already using its software, Core Informatics has received recognition from industry analysts and publications as a transformational leader in the industry. Founded in 2006, Core Informatics supports customers worldwide from its offices in Branford, CT, Cambridge, MA and London, England.
About Oak HC/FT
Oak HC/FT(http://oakhcft.com/) is the premier venture growth-equity fund investing in Healthcare Information & Services (HC) and Financial Services Technology (FT). We are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders.