Particle Health raises $12 million Series A led by Menlo Ventures
NYC-based Particle Health announced its $12 million Series A funding led by Menlo Ventures, with participation from existing investors Collaborative Fund, Story Ventures and Company Ventures. Additional individual angel investors include executives from Flatiron Health, Clover Health, Plaid, Petal and Hometeam. Greg Yap, Partner at Menlo Ventures, joins the Particle Health board of directors.
Established in 2018, the team of ~10 led by founder and CEO Troy Bannister provides an API to access healthcare records on behalf of patients. Over 1.4 million record transactions have already been completed using Particle Health’s API by top tier telemedicine, pharmacy and virtual health companies.
“Clumsy information sharing has taxed US healthcare for decades, but new rules against Information Blocking establish patients’ rights to access their medical data via API. Particle Health’s technology platform is the first to deliver simple, secure, scalable, and comprehensive access to healthcare data. The combination of portability and privacy will enable the next generation of digital health applications. We’re excited to join Particle in the quest to enable health data interoperability, ultimately reducing costs and improving outcomes for patients.” – Greg Yap, Partner at Menlo Ventures.
“Expectations are changing – people want digital healthcare solutions that connect the apps that they’re already using to the healthcare system at large. They expect a fully digital, real-time experience where they no longer have to fill out piles of paperwork when submitting an insurance claim, they don’t have to call for lab results and they don’t need to worry that their medical team is waiting on a fax that is critical to their care. Particle is a key piece of that puzzle, by offering developers a place to focus on creating new solutions – not on integrations, contracts and data standards. Now, in the midst of one of the biggest pandemics the world has ever faced, with tailwinds from newly passed legislation and the complete reliance on fully digital information sharing capabilities, Particle is uniquely positioned to emulate the value that Plaid, Twilio or Stripe offered in different industries.” – Particle CEO Troy Bannister.
