Tuesday Dec 17, 2013 by Dennis Keohane - Staff Writer, VentureFizz
Trinity Pharma-the cloud-based data, analytics and mobile solutions for med company-announced a $15 million Series A round of funding today.
Health Enterprise Partners, an equity firm focused on the crossroads of health care and technology, led the round.The new round of funding will enable Trinity to extend its solutions for cloud-based, big data healthcare analytics, which have become increasingly in more demand.
As the press release announcing the investment commented, "Trinity’s Series A investment comes at a time of impressive growth for the company. The infusion of capital will fuel the expansion of Trinity’s sales and delivery teams and the continued evolution of its core product, AgileM, a cloud-based mobile analytics platform. (We covered the launch of AgileM in February.) Trinity expects to invest in the areas of sales, marketing, and technology to better serve its rapidly expanding customer base."
At its heart, Trinity is a a company that is looking to take the massive amounts of commercial health data to create insights for service providers, medical sales teams, and other healthcare/medical institutions. The company is trying to make it easier for its customers to have access to analytics on their mobile devices which "improve tactical and strategic decision making across sales and marketing teams."
As Trinity Co-Founder and CEO Zackary King explained, “The explosive growth in healthcare information combined with unprecedented demand for analytics has created a problem that far exceeds the delivery capabilities of traditional data warehouses and generic business intelligence solutions,”
“By leveraging the cloud," he added, "our vertically-focused solution turns complex data into insights and analytics that are essential to successful life sciences and healthcare organizations. We’re excited to partner with HEP because of their stellar reputation, exclusive focus in healthcare and the team’s track record of success.”
In the press release announcing the deal, HEP's David Tamburri commented, “Over the last 12 years, Trinity has built a proven business and technology that is solving the increasingly complex challenges that life sciences and healthcare companies face worldwide." "The rapid change in healthcare requires real-time analytics to provide value beyond counting pills and with the potential to improve patient outcomes," he added.
“With a seasoned management team, led by Co-Founder and CEO Zackary King, we see tremendous opportunity to accelerate Trinity’s growth in support of demand for its cloud-based software."
Also announced was the news that Tamburri will join Trinity’s board of directors; as will John Corcoran, Trinity Co-Founder and Chairman.
Corcoran added his own insights into news of the investment, “This investment will fuel substantial growth, brand awareness and overall value to our customers and partners. Trinity Pharma is well positioned to capitalize on the sweeping changes in healthcare and the important role that analytics will serve in this dynamic environment."
Dennis Keohane is a staff writer for VentureFizz. You can follow Dennis on Twitter (@DBKeohane) by clicking here.