|[January 02, 2013]
Kyruus Raises $11M Series B to Accelerate the Rapid Growth of Its Physician Network Management Solutions
BOSTON --(Business Wire)--
Kyruus, a leading healthcare Big Data company, today announced the
closing of an $11M Series B financing. The investment was led by Lux
Capital, with participation from Fidelity Biosciences as well as
existing investors Venrock and Highland Capital Partners (News - Alert). The financing
brings the total amount raised by Kyruus to $19.6M since its inception
"We are delighted to partner with Lux and Fidelity as we enter the next
phase of our company's growth," said Graham Gardner, CEO of Kyruus.
"Both firms bring important relationships with large numbers of
healthcare organizations that today wrestle with how to understand and
engage their physician networks. We believe our applications can
transform the way these organizations coordinate physician expertise and
optimize the delivery of patient care."
Over the last year, Kyruus has quickly established a customer base of
over 20 leading healthcare organizations from across the country,
ranging from community hospitals to large multi-facility health systems.
The company's product platform enables organizations to optimize the
performance of their physician networks across the areas of network
development, referral management, and regulatory compliance. Kyruus will
use the new funds to expand its sales and marketing efforts across each
of these solution areas.
In conjunction with the financing, Robert Paull, Managing General
Partner at Lux Capital, will join the Kyruus Board of Directors. "Large
healthcare organizations are by nature extraordinarily complex," said
Paull. "Kyruus solves difficult data problems - providing customers with
the clarity to make more informed decisions. Lux is excited to help a
remarkable group of entrepreneurs build a defining healthcare
Kyruus is a leading Big Data company that enables hospitals and health
systems to take a data-driven approach to building, operating, and
optimizing their physician networks. The first-in-class KyruusOneTM
data mining and analytics platform creates a "unified view o the
physician" across demographic, clinical, research, financial, and
performance-related dimensions. Kyruus' purpose-built search, analysis,
and workflow applications deliver measurable ROI in areas of network
development, regulatory compliance, and referral network management by
directly engaging physicians to help reduce their administrative
overhead, optimize decision-making, and increase the efficiency of their
clinical practice and research activities. For more information, visit www.kyruus.com.
About Lux Capital Management
Lux Capital is a leading venture firm focused on founding, seed and
early stage investments in emerging technologies. Lux takes an active
role in helping entrepreneurs build successful businesses in Energy,
Healthcare and Technology. The Lux investment team has founded more than
20 companies from scratch, including Caliper, Genocea, Illumina, Kala,
Kurion, Lux Research, Nanosys, Neurocrine Biosciences, and Vertex (News - Alert)
Pharmaceuticals. For more information please visit www.luxcapital.com.
About Fidelity Biosciences
Fidelity Biosciences is a subsidiary of FMR LLC, the parent company of
Fidelity Investments, one of the world's leading providers of financial
services. For more than 40 years, Fidelity has been a significant
presence in the venture capital and private equity industry, investing
the firm's own capital since 1969. For more information, please visit www.fidelitybiosciences.com.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great
people build great companies. Since its inception in 1988, the firm has
taken a sector-focused approach to investing in exceptional
communications, digital media, healthcare, and information technology
companies. With more than $3 billion of committed capital and offices in
Geneva, London, Silicon Valley, Boston and Shanghai, Highland has
invested in and worked to create such firms as Ask Jeeves, Avid
Technology, CheckFree, Conor Medsystems, Generation Health, lululemon
athletica, Lycos, Odyssey HealthCare, OpGen, Qihoo 360, Quattro
Wireless, RedBrick Health, Starent Networks, Sybase (News - Alert) and VistaPrint. www.hcp.com.
Venrock is a leading venture capital firm with offices in Palo Alto (News - Alert), CA;
New York, NY; and Cambridge, MA. Originally established as the venture
capital arm of the Rockefeller family, Venrock continues an eight-decade
tradition of partnering with entrepreneurs to establish successful,
enduring companies. With a primary focus on technology, healthcare, and
energy, portfolio companies have included Adify, Adnexus Therapeutics,
Apple Computer, Athenahealth, Centocor, Check Point Software,
DoubleClick, Gilead Sciences, Idec Pharmaceuticals, Illumina, Intel,
Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vostu.
For more information, please visit Venrock's website at www.venrock.com and
follow the firm on Twitter (News - Alert) at @venrock.
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