Welcome!

News Feed Item

Apixio's Series-C Round of Finance Led by Bain Capital Ventures

Apixio Inc., a pioneer in Big Data analytics for healthcare, announced today that Bain Capital Ventures, the venture and growth capital affiliate of Bain Capital, along with several high-profile Silicon Valley angel investors, have invested a total of $13.5 million to acquire minority stakes in the Company.

“We are very excited about our new partnership with Bain Capital Ventures and the continued support from our current angel investors,” said Shawn Dastmalchi, CEO and Co-founder of Apixio. “The proceeds will be used to ramp up our sales and operations in support of the strong growth we are experiencing in our Risk Adjustment business. We also intend to further develop our Big Data technology and to build on our vision to provide analytic solutions that power value-based care.”

“We are thrilled to partner with Apixio,” said Jared Kesselheim, Partner at Bain Capital Ventures. “The risk adjustment process is becoming essential to an increasing portion of the payor-provider landscape, and Apixio’s technology platform has the power to deliver unprecedented risk adjustment accuracy and automation, as evidenced by the customer traction they are seeing in the market.”

The need for accurate and efficient reporting of member risk scores is on the rise due to steady growth in Medicare Advantage plan enrollment, combined with increasing audit pressure from the Centers for Medicare and Medicaid Services (CMS). In addition, the Affordable Care Act (ACA) requires commercial health insurance plans to maintain accurate Risk Adjustment data for their small group and individual plan members, further expanding the demand for Risk Adjustment solutions. Ultimately, as value-based payment models gain broader adoption, Risk Adjustment solutions will become the foundation for both how payment is determined and how patient care outcomes are tracked.

About Apixio Inc.

Apixio is a pioneer in applying big data technology to extract and analyze clinical unstructured and coded data using natural language processing and machine learning to derive outcomes and cost-related insights. Based in Silicon Valley, Apixio offers solutions that enable health plans and large provider groups to more accurately and efficiently determine member risk scores and receive appropriate value-based reimbursement.

For more information, visit www.apixio.com. Follow us on Twitter and LinkedIn and Like Us on Facebook.

About Bain Capital Ventures

Bain Capital Ventures is the venture and growth capital affiliate of Bain Capital, which has approximately $75 billion of assets under management worldwide. The firm's history of investing in venture and growth stage companies dates back to 1984 with over 125 venture and growth investments since inception. Bain Capital Ventures manages approximately $2 billion of committed capital, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has a long and rich history of successful investing in healthcare, software and business services businesses by working in partnership with management teams to pair talented and passionate entrepreneurs with industry experts, open doors to customers, and collaborate on sound long-term strategies. Several notable prior investments in innovative healthcare companies include Liazon (acquired by Towers Watson), Humedica (acquired by United Health), Liberty Dialysis (acquired by Fresenius) and Minute Clinic (acquired by CVS).

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.