The privacy of health data has slowly crawled into the crosshairs of both investors and startups as health systems go digital.
Several new companies, like Medable, offering to help health providers make their data private have appeared on the scene. One of them is Canada-based Privacy Analytics, which today said has raised a $3.5M in new funding in a round led by Vanedge Capital. Vanedge joins BDC IT Venture Fund and the Ontario Institute for Cancer Research (OICR) as the main investors in the company.
So customers get quality individual-level data for analysis while simultaneously protecting personal information, the company says. The anonymized data can work for secondary purposes, such as research, quality and safety improvement, public health, payment, certification or accreditation, software testing, and other business applications with an automated, enterprise-standard process that saves substantial time and money.
"We believe Privacy Analytics is well situated to become the de facto standard for automated risk-based anonymization in healthcare and other industries," says V. Paul Lee, the managing partner for Vanedge.
"As organizations gather more data, they'll need enterprise solutions to manage and monetize sharing of information to avoid the costly breaches of personal information that have dominated the media as of late."
The company's customers represent half of the Fortune 50 healthcare companies, as well as some large academic and research organizations, such as The Center for Clinical Excellence at Mount Sinai in New York City.
HealthBeat — VentureBeat's breakthrough health tech event — is returning on Oct 27-28 in San Francisco. This year's theme is "The connected age: Integrating data, big & small." We're putting long-established giants of the health care world on stage with CEOs of the nation's most disruptive health tech companies to share insights, analyze trends, and showcase breakthrough products. Purchase one of the first 50 tickets and save $400!
Privacy Analytics provides organizations with enterprise software to safeguard, operationalize and enable data for secondary use. It is the only company to offer its customers software, peer-reviewed methodology and valued-added servic... read more »
