ClearDATA Mid-Year Results Reflect Triple-Digit Revenue Growth
Phoenix, Ariz. (July 29, 2014) – Coming on the heels of a $14M Series B funding round from Merck Global Health Innovation Fund, Excel Venture Management and Norwest Venture Partners, ClearDATA Networks, Inc. today announced strong mid-year results driven by demand for the company’s healthcare-exclusive, HIPAA-compliant cloud computing and information security solutions among healthcare providers and technology companies.
Revenue for privately-held ClearDATA more than doubled between January and June 2014. This explosive growth led ClearDATA to expand customer service and operations and substantially increase its staff from June 2013 to June 2014, hiring several new professionals with health IT expertise.
“Achieving and maintaining HIPAA compliance continues to be a key challenge for healthcare CIOs due to a constantly changing regulatory environment,” said Darin Brannan, chief executive officer, ClearDATA. “More than 300,000 healthcare professionals rely on our cloud infrastructure and services to ensure compliance and protect patient health information. More importantly, it’s a step in their journey toward greater application and data interoperability to better organize and extract healthcare big data leading to improved patient outcomes, ultimately making healthcare better for everyone.”
Additional ClearDATA highlights for the first half of 2014 include:
- Designated as one of five major players in the North American Healthcare Cloud Computing Market in MarketsandMarkets’ 2014 North America Healthcare Cloud Computing Market – Forecast to 2018 report. Additionally, the report highlighted ClearDATA’s HIPAA-compliant cloud platform when discussing the growing trend of closer collaboration between cloud service vendors and healthcare application providers.
- Released the industry’s first compliant, intelligent, encryption-based image archive solution as well as a new version of the ClearDATA SSL VPN that delivers industry leading cross-platform security for remotely accessing PHI and other critical applications.
- Secured several new clients (healthcare providers and healthcare technology companies) offering a broad spectrum of services:
- Practice management systems and management consulting for dentists
- Mobile software designed to improve patient engagement and outcomes
- Home-based programs that help patients improve health outcomes after experiencing life transitions and medical events
- Community-based and multi-specialty group practices
- Online healthcare data warehouse, analytics and collaboration technology