Viewics Secures $10.5 Million in Capital, Closes Funding to Bring Advanced Analytics to Healthcare

Series B round led by Canvas Ventures and Roche Venture Fund to fuel healthcare analytics company's growth

SUNNYVALE, Calif.--Please replace the release issued August 2, 2016 with the following corrected version due to multiple revisions.

Viewics secures $10.5 million in additional financing. Series B round led by Canvas Venture and Roche Venture Fund.

The corrected release reads:

VIEWICS SECURES $10.5 MILLION IN ADDITIONAL FINANCING, CLOSES FUNDING TO BRING ADVANCED ANALYTICS TO HEALTHCARE

Series B round led by Canvas Ventures and Roche Venture Fund to fuel healthcare analytics company's growth

Viewics, the healthcare-focused analytics company that provides hospitals and health systems with management solutions, today announced it has raised a total of $10.5 million in additional financing led by existing investor Canvas Ventures and new investor Roche Venture Fund, whose portfolio includes 23andMe, Flatiron, and Lumos Pharma. City National Bank also participated. The funds will be used to further expand Viewics' analytics platform and management solutions, as exemplified by the recent launch of the company's management solution for chronic kidney disease.

"Hospitals, health systems, and accountable care organizations are under intense pressure to improve patient outcomes while reducing costs," said Dhiren Bhatia, co-founder and CEO of Viewics. "The value-based market is changing how these organizations track, measure, and report performance. Our customers recognize this shift, and are using Viewics' solutions to achieve these goals across their organizations and patient populations."

By combining its easy-to-implement, HIPAA-compliant platform with data-driven management solutions, Viewics provides advanced analytics that help health systems and ACOs realize clinical, operational, and financial benefits within weeks, without placing additional burden on organizations' information technology resources.

"Viewics' vision extends well beyond business intelligence software; it's about driving improvements across healthcare organizations by leveraging laboratory data and providing fast, tangible business value," said Gary Little, general partner at Canvas Ventures. "Viewics is developing new products and features faster than any of their competitors. Clearly they are well positioned to be the dominant player in the healthcare analytics space."

Simon Meier, investment director for the Roche Venture Fund, will take a seat on Viewics' board of directors.

Viewics will use this financing to scale its business and continue to innovate in healthcare management solutions by driving data intelligence and collaboration across healthcare organizations.

About Viewics

Viewics provides unprecedented access to disparate healthcare data to surface actionable intelligence and empower data-driven decision-making. Through expertise and focus on healthcare analytics, Viewics delivers proprietary, best-in-class technology for data extraction, cleansing, and transformation to quickly unlock insights that deliver invaluable clinical and financial impact, while reducing burden on IT.

The HIPAA-compliant solution puts the transformational power of analytics into the hands of healthcare professionals in clinical, financial, executive, and IT roles. The solution is customized and supported to enable organizations to move with agility, make decisions based on accurate data, see insights at-a-glance, and deliver great impact.

For more information, visit viewics.com and follow us on LinkedIn, Twitter, and Facebook.

About Canvas Ventures

Named a "Top VC Firm to Watch" by the 2015 Forbes Midas List, Canvas Ventures is an early-stage venture capital firm based in Silicon Valley. Gary Little, Rebecca Lynn, Paul Hsiao, and Ben Narasin serve as the firm's general partners. They are "thesis investors" and currently concentrate on the areas of digital health, fintech, enterprise, big data, and marketplaces. The Canvas partnership was formed in August 2013, and has invested in Viewics, HealthLoop, FutureAdvisor, Everwise, CrowdFlower, Totango, Transfix, Zola, and Eden. Previous to Canvas, the partners made early-stage investments in Doximity, Lending Club, MuleSoft, Houzz, Evernote, NexTag, Check, Elance-oDesk, Zenefits, Dropcam, Kabbage, and more. Visit us at www.canvas.vc.

About Roche Venture Fund

The Roche Venture Fund invests in innovative biotech and diagnostics companies to develop commercially successful life science companies. Based in Basel with an office in South San Francisco, RVF is the corporate venture fund of the healthcare company Roche. RVF invests globally with a portfolio of over 30 companies in 10 countries. For more information, please visit www.venturefund.roche.com.

About City National Bank

With $41.2 billion in assets, City National Bank provides banking, investment and trust services through 74 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. In addition, the company and its investment affiliates manage or administer $55.7 billion in client investment assets.

City National is a subsidiary of Royal Bank of Canada (RBC), one of North America's leading diversified financial services companies. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 36 other countries.

For more information about City National, visit the company's website at cnb.com.

Source URL: http://businesswire.com/news/home/20160802005701/en/Viewics-Secures-10.5-Million-Capital-Closes-Funding

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Healthcare