Chicago healthcare startup Apervita has raised new financing following its merger with Boston-based Qcentive over the summer.
The company announced Tuesday that it raised $22 million from Optum Ventures, Pritzker Group Venture Capital and Baird Capital. Other investors include Math Ventures, Levy Family Partners, Illinois Ventures and Wintrust.
Apervita has now raised more than $43 million to date, according to Crunchbase.
The startup operates a cloud-based platform that enables insurers and healthcare providers to share clinical and insurance claims data. Apervita says it currently serves more than 2,000 hospitals and saves them anywhere from $20,000 to $50,000 each in administrative expenses.
The company's Director of Marketing Alex Kane said that the new funding will be used for product development, and sales and marketing initiatives.
Apervita was originally launched in 2012 by former CEO Paul Magelli, and in 2015, raised $18 million from GE Ventures, Baird Capital, Pritzker Group Venture Capital, Math Ventures and other investors.
In August, Apervita merged with Qcentive and named Kevin Hutchinson CEO, the former CEO of prescription-data network Surescripts. Prior to the acquisition, Qcentive made software for insurers that helped them create contracts with hospitals. The combined companies now employ 80 people across their offices in Chicago and Boston, Kane said.
"Apervita has led the way with the next generation infrastructure supporting digital performance measurements and value-based transactions, helping payers and providers as they transition to more fully aligned value-based healthcare,” Hutchinson said in a statement. “This new capital will allow us to accelerate investment in our leading-edge technology and support expansion in partnership with our growing client base."
Apervita isn't the only healthcare or medical startup that's raised funding in Chicago recently. Digital healthcare consulting company AVIA raised $22 million in a round of funding led by First Trust Capital Partners in October. Surgical Innovation Associates raised $4 million in a Series A round last month that included Harvard Business School Angels and Minneapolis-based Gopher Angels. And BiomseSense raised $2 million in October in a seed round led by BioX Clan, a venture capital firm that invests in early-stage bioscience technology.
