LaunchPoint Closes $3.5M Series B
ROLLING MEADOWS, IL, Provider of information-centric enterprise business solutions and services, announced the close of a private Series B financial raise of $3.5 million.
LaunchPoint, a provider of information-centric enterprise business solutions and services, announced today the close of a private Series B financial raise of $3.5 million, bringing total corporate investments to $6.7 million. Backers include the roster of existing LaunchPoint Series A investors and new private contributors.
"LaunchPoint garnered investment offers from private equity and venture capital given our ability to scale our business through solutions that improve customer performance and transparency," said Terrence Ryan, LaunchPoint CEO. "We see deep market interest in supporting health IT priorities with agile business solutions that drive top and bottom line performance. Based on current business results, strong market interest, and current investor support, we opted to keep LaunchPoint privately held at this point in time."
Founded in 2008, LaunchPoint has served 30 customers through its two divisions: Ajilitee, a consulting and services firm that specializes in agile analytics, business intelligence, cloud enablement, and information management; and Discovery Health Partners, a provider of intelligent healthcare cost containment solutions that include subrogation, coordination of benefits and dependent eligibility verification. Customers include leading healthcare payers, provider networks, academic medical centers, and self-insured corporations.
In 2011, LaunchPoint revenue grew by ten-fold and its customer base doubled. LaunchPoint now employs more than 40 people. This latest financial raise will be allocated toward new customer onboarding and continued software-as-a-service (SaaS) solution development.
"We invested in LaunchPoint because of its management team strength and track record, expertise in information analytics and cloud computing, healthcare focus and customer momentum," said George Spencer III, Managing Director of Seyen Capital and LaunchPoint private investor. "With its suite of cloud offerings and strength in execution, LaunchPoint is carving a leadership position in helping healthcare organizations compete in entirely new ways."
LaunchPoint founders previously served in leadership capacities with HP Worldwide Information Management Services and as founders and executive management of Knightsbridge Solutions, a leading business intelligence consultancy acquired by HP in 2006.
LaunchPoint is a provider of information-centric enterprise services and solutions for healthcare organizations. Corporate divisions Ajilitee and Discovery Health Partners deliver highly flexible, scalable and cost-efficient solutions that enable customers to innovate with information and advance their competitive position.
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