Abacus Insights raises $28m in Series C for health plan data solutions

Abacus Insights, a Boston-based provider of data management and interoperability solutions for healthcare payors, has secured $28 million in a Series C funding round.

The latest financing round was led by new investor — MultiPlan Corporation, a provider of data analytics, payment and revenue integrity solutions, and cost management to the American healthcare industry.

Existing investors Blue Venture Fund, .406 Ventures, CRV, Echo Health Ventures, and Horizon Healthcare Services also took part in the funding round.

Abacus Insights raises $28m in Series C for health plan data solutions. Photo courtesy of mohamed Hassan from Pixabay.

Dr. Minal Patel — Abacus Insights founder and CEO said: “This new funding validates our company’s mission, which is to help health plans liberate health data.

“Doing so empowers consumers to make better health choices and physicians to make more informed treatment decisions. Payors also use the platform to drive efficiency in their business which further lowers costs for their members.

“We are proud to partner with MultiPlan given their leadership position in data and analytics serving nearly every payor in the country. MultiPlan shares our belief that better data means better care, and this investment represents an important step in achieving our goal to make healthcare more personalized and cost-effective for every individual.”

To date, Abacus Insights has raised $81 million.

Abacus Insights has built a cloud-based technology platform that helps healthcare payors in achieving and fast tracking initiatives across their core priority areas, which include value-based care, digital transformation, and member engagement.

The health plan data solutions provider plans to use the proceeds from the Series C round for scaling its business, expedite the technology platform’s capabilities and connections, and expand its technology talent.