Diameter Health, a startup based in Farmington, Connecticut, has secured $9.6 million in a Series A-1 funding round, according to a press release from the company.
New investor Optum Ventures led the round. Existing investors Activate Venture Partners, Connecticut Innovations, Excelerate Health Ventures and LRV Health also participated.
Founded in 2013, Diameter Health is focused on clinical data integration. Its platform allows organizations like HIEs, ACOs, health systems and health plans to bring order to their information that comes from multiple sources. By normalizing and deduplicating the data, the Diameter offering seeks to help healthcare organizations get more value and insight from their information.
The foundation of the platform is a solution called Fusion, which allows for data exchange and integrating data from the EHR. Diameter has other tools as well, including Analyze (for creating data quality ratings and dashboards) and Subscribe (which enables users to schedule updates for discrete patient populations).
The startup’s technology is certified by the ONC and the National Committee for Quality Assurance.
The $9.6 million in funding will be used to fuel Diameter’s growth with more development, cloud delivery and commercial resources.
“The volume of clinical data being exchanged has grown exponentially over the last decade, and players across the health care ecosystem are grappling with how to make this influx a useful and valuable asset,” Diameter CEO Eric Rosow said in a statement. “Our partnership with Optum Ventures will accelerate our ability to meet the industry demand for technology that makes clinical data actionable at scale.”
Back in 2016, the Connecticut company raised $2.1 million from Connecticut Innovations, Excelerate Health Ventures, Milestone Venture Partners and Long River Ventures. At the time, Diameter said it would use that money to speed up product development and add resources to implementation, support and quality.
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