Waltham, MA based SHYFT Analytics recently announced that they’ve secured $12.5 million in new funding from global healthcare and technology leaders, led by McKesson Ventures and Medidata Solutions. SHYFT assists life science companies integrate clinical and commercial data and translate it into patient-centric intelligence and analytics. This Series B funding round is the company’s third capital investment since its founding in 2006, and brings their total raised to $31.5 million. SHYFT opted for an all-strategic collaboration to include the aforementioned investors, and the company plans to the new cash to expand its healthcare cloud analytics platform.
SHYFT’s CEO and Co-founder Zackary King speaks to the new investment, saying: “This financing represents a major step forward in building SHYFT into one of the biggest and most important industry cloud companies for life sciences and we’re excited to have the backing of such a diverse and strategic group of investors. It is a unique and valuable opportunity to have partners who understand our customers and share our vision for advancing healthcare through analytics.”
The company recently launched SHYFT RWE, a first of its kind solution that aggregates EMR data and delivers real-world treatment outcomes and analytics. As a result, SHYFT has started to redefine and optomize observational research at scale. Customers can now use the solution in a single pane of glass to conduct end-to-end patient disease studies in days rather than months for research focused on drug safety, comparative effectiveness, drug utilization, treatment pathways and improving patient outcomes. Customers already include two of the top 10 pharmaceutical companies in the world, and an expanding base of organizations in specialty, rare disease, and bio-tech.
SHYFT’s cloud platform enables customers with faster time to analytics, reduced operational cost and risk while increasing commercial and clinical performance. SHYFT customers develop treatments across broad and emerging therapeutic areas with a strong focus on oncology, cardiovascular disease, diabetes, and other specialty and rare disorders.
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