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Kyruus Announces Closing of $11M Series B Financing Led by Lux Capital

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January 04, 2013

Kyruus Announces Closing of $11M Series B Financing Led by Lux Capital

By Calvin Azuri
TMCnet Contributor

Kyruus recently announced that it has successfully closed $11M in Series B round of financing. Lux Capital headed the investment which saw participation from Fidelity Biosciences and other investors including Venrock and Highland Capital Partners (News - Alert). With this series of financing, the total amount of capital raised by Kyruus since its establishment amounts to $19.6M.

In addition to the financing announcement, Kyruus also announced the appointment of Robert Paull, Managing General Partner at Lux Capital, to the Kyruus Board of Directors.

In a statement, Graham Gardner, CEO of Kyruus, said that, “We are delighted to partner with Lux and Fidelity as we enter the next phase of our company’s growth. Both firms bring important relationships with large numbers of healthcare organizations that today wrestle with how to understand and engage their physician networks. We believe our applications can transform the way these organizations coordinate physician expertise and optimize the delivery of patient care.”

Kyruus’ customer base grew to include more than 20 leading healthcare organizations from across the country in the last year alone. The company’s clients now include community hospitals and large multi-facility health systems. Organizations leveraging the product platform of Kyruus can effectively enhance the performance of their physician networks with respect to network development and referral management, ensuring greater regulatory compliance. The new funds generated will be used by Kyruus to further expand its sales and marketing strategies to cover each of these solution areas.

Robert Paull said that, “Large healthcare organizations are by nature extraordinarily complex. Kyruus solves difficult data problems – providing customers with the clarity to make more informed decisions. Lux is excited to help a remarkable group of entrepreneurs build a defining healthcare information company.”

Kyruus are specialists in big data for healthcare and makes it possible for hospitals and health systems to adopt a data-driven approach for developing, operating, and improving their physician networks.

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Edited by Brooke Neuman

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