Glenwood-based Healthcare Interactive, a software company that allows insurance providers and health systems to manage and analyze patient data, plans to announce an $8 million investment Wednesday.
The infusion of venture capital, which comes from Grotech Ventures and Harbert Venture Partners, will be a first for the eight-year-old company. Co-founder Keith Lemer said the company has been self-funded since it was formed in 2006.
Healthcare Interactive provides software that allows those who pay for health care, such as insurance companies and large employers, to identify the biggest health risks and drivers of health care costs among their customers or employees.
The software can then identify ways to improve patients’ health outcomes and reduce costs, while also providing online tools so patients can more easily access their information and communicate with health care providers.
“We are in a red-hot market right now around health care administration, especially this idea of cloud-based technologies driving a higher level of efficiency for people utilizing health care,” said chief executive Henry Cha.
The investment will allow Healthcare Interactive to add several top executives, including a chief operating officer and chief financial officer, as well as a few dozen engineers and sales representatives, Cha said.
The company counts 52 employees to date.