Datavant is a new healthcare data startup that provides healthcare companies with tools for managing health data efficiently and streamlining the processes. The company has made recent business news with its influx of investor fundraising. Datavant is an American company that provides a platform for helping clinical decision-makers to organize healthcare data with access to matching and sharing services that fully protect all data accessed. If you're not yet familiar with this tech company, here are twenty things you probably didn't know about Datavant to bring you up to speed.
1. Datavant is a disruptor in clinical trial technology
Crunchbase confirms that the Datavant platform can help professionals involved with clinical trials to improve the design of the trials and help with the interpretation of the data. It's a useful tool for pharmaceutical companies in managing compliance, trust, privacy, and security to enable safe data sharing among those with a need-to-know and authorized access to sensitive information. It has the potential to be a game-changer in the industry with its automated features.
2. Datavant is a California company
Datavant's headquarters is in San Francisco, California. The company was established by Travis May in 2017. It's still a new company and in the early stages of development, but it's advancing at a rapid pace. The legal name of the enterprise is Datavant Inc.
3. Datavant is listed across five industries
Datavant is a versatile company that offers products and services listed across five industry headings on the internet. It is a biopharma company because this is the category of businesses served. It supplies Data Integration in the Health Care industry, focusing on Clinical Trials. It is also listed in the Software industry because the platform launches through software powered by artificial intelligence to automate many of the processes previously performed manually by humans.
4. Datavant's website uses a complicated assortment of technologies
The Datavant website provides visitors with a smooth and seamless experience. To accomplish the feat, the website relies on sixty-six technologies. These technologies are distributed across twenty-nine technology products and services. Some of them include jQuery, Google Analytics, HTML5, SPF, iPhone Mobile Compatible, Viewport Meta, and dozens more.
5. Datavant budgets for IT
Datavant shared its projections for the upcoming 2022 IT budget for the company. It is projected to spend $158.2K on IT for the technology products and services necessary to provide its fully functional website and the applications associated. It's the cost of business and the overhead the company budgets each year. Compared to many other companies which spend nearly a million annually, it's fairly low. We expect the IT expenses to climb as Datavant grows and expands, bringing it to scale with the rising demand for its services.
6. Datavant maintains uniqueness in the Biotech software industry
Datavant has numerous competitors in the biotech software industry. The company stands out from the rest of them with unique services that are branded and protected through patents. Datavant secured one registered patent in the computing and calculating category. No other software company can legally use, copy, or imitate the intellectual property protected under the patent. Additionally, Datavant secured five registered trademarks in the scientific and electric apparatus and instruments category. A minimum of six aspects of Datavant's products and services are unimitable. These features help them to stand out as unique service providers.
7. Datavant is growing in popularity
Analytics for the Datavant website show that the number of monthly visits is growing fast. Over the past thirty days, the website received 42,814 visits. The number represents a monthly visits growth rate of 217.14 percent. Datavant is ranked as the number 886,722 website of the millions of websites registered on the world wide web. It's remarkable progress for such a young company.
8. Datavant is the most popular in the United States
Datavant is an American company so it's no surprise that it is the most popular with American audiences. Ninety-nine percent of the web traffic is from people in the United States. The number represents a monthly visits growth rate of 228.92 percent. One percent of the web traffic is from people in Canada and one percent from visitors from Switzerland. The data gathered about the number of visits and the location of the visitors is useful for strategic planners to discover who has the most interest in the products and services offered for expansion into other parts of the world.
9. Datavant has a core leadership group of twenty
There are twenty members in the core leadership at Datavant. Eight members of the group are listed as high-ranking executives and decision-makers. Travis May is the co-founder and chief executive officer of Datavant. Eric Perakslis is the chief scientific officer. Patsy Bailin is the head of privacy. Aneesh Kulkami is the head of engineering. Shahir Kassam Adams is the head of corporate development. Jason LaBonte is the chief strategy officer. Steven Swank is the chief revenue officer. Tim O'Grady is the head of partnerships and business development. The core team of executives is joined by twelve others who share the responsibilities for running various departments within the company. Other high-and middle-ranking managers serve as support, along with administrative staff, marketers, and other members of the team.
10. Datavant has an eighteen member board of directors
The board of directors for Datavant is comprised of eighteen members of advisors. Joseph Austin joined the board in 2018. He is the former Universal Patient Key co-founder and executive chairman. He founded one organization and serves on one board of directors in an advisory role. Emiko Higashi is the owner and managing director sat Tomon Partners LLC and Interim CFO at Zeptor. She has founded one organization and currently serves on five boards of directors in advisory roles. Andrew von Eschenbach was a commissioner of the United States Food and Drug Administration. He founded one organization and currently serves on five boards of directors in advisory roles. Niall Brennan is the president and CEO of Health Care Cost Institute. He currently serves on one board in an advisory role. Sachin Jain is the chief medical officer at CareMore Health System and Anthem. Donald Berwick is the President Emeritus of the Insitute for Health Care Improvement. Bernie Lo is the chair of the committee on Sharing of Clinical Trial Data, IOM. Daniel Burch is the global head of PPD Biotech at PPD. The group is joined by ten other advisors.
11. Datavant is a venture capital-funded organization
Datavant has participated in two rounds of venture capital fundraising. The most recent Series B round was completed on October 8, 2020. So far, the fundraising has produced $80.5 million to help the company in its growth and expansion and operational efforts.
12. Datavant has eight investors
Eight investors put their bets on Datavant's likelihood of achieving success and giving them a decent return on their investments. The most recent investors to join the efforts include Transformational Capital and Roivant Sciences. Other investors include Johnson & Johnson Innovation-JJDC, Flex Capital, Cigna Ventures, Founders Fund, Softbank Vision Fund, and Travis May, the owner and founder of the company.
13. Datavant acquired Universal Patient Key
On May 1, 2018, Datavant acquired a company called Universal Patient Key, a San Francisco, California-based startup launched in 2014. Universal Patient Key is a Big Data analysis and healthcare software company that provides a HIPAA secure and compliant system for retrieving and managing healthcare information. The company continues to function as a subsidiary of Datavant. The amount of the acquisition was not disclosed.
14. Datavant acquired Health Data Link
Datavant's second acquisition was announced on June 3, 2019. It acquired a company called Health Data Link of Chicago, Illinois. The company is a health technology company specializing in the management of fitness and health care with a focus on information technology. It functions as a subsidiary of Datavant. The amount of the acquisition has not been disclosed.
15. Datavant acquired Ciox Health
The third and most recent acquisition made by Datavant was announced on June 9, 2021. It purchased Ciox Health for a cost of $7 billion. Ciox is based in Alpharetta, Georgia. The company specializes in healthcare information management. it helps healthcare companies and organizations to connect their data securely. Ciox secured funding for $30 million before its acquisition and acquired two companies. It brings twenty-one, new staff members, into the Datavant workforce. It's the third acquisition made by Datavant. It helps to expand the reach of Datavant further into the southern region of the United States as a part of its strategic plan for growth and expansion.
16. Datavant is currently hiring
LinkedIn profile for Datavant reveals that the company is currently hiring. Datavant has a workforce of 186 members before its new expansion surge. All of the current job listings are for remote workers living anywhere in the United States. Datavant is looking for qualified applicants to fill eleven new positions. They're actively recruiting for a Principal Application Security Engineer, an Account Executive, a Financial Planning analyst, a Principal Security Operations Engineer, a Business Operations Specialist, an InformationAssurance Analyst, Customer Success for Pharma, a Sales Engineer, a Sales Operations Specialist, a Financial Planning and Analysis Manager, and a Senior Software Engineer. The recent influx of investor support has made it possible for Datavant to expand its workforce, regional territory, and product offerings.
17. Datavant serves a broad sector of the public
Wikipedia reports that Datavant's platform is relevant for various types of businesses and organizations within the United States healthcare market. Current clients of Datavant include hospitals, providers, analytics companies, payers, pharmaceutical companies, and clinical research organizations. The platform is relevant for any organization in the healthcare industry with an interest in upgrading to a digital ecosystem for the safe and private exchange of healthcare data that meets requirements for HIPAA compliance.
18. Datavant operates the research database for Covid-19
Datavant's platform is responsible for the safe and private exchange of data used in the Covid-19 Research Database. It also operates the system for the Health Care Cost Institute with other notable clients. Datavant also provides products and services for Paraxel, Elsevier, Snowflake, and others to enable public health and policy researchers to get the information they need in real-time to best understand what is known about the Covid-19 pandemic and combat the crisis.
19. Datavant is a privately held organization
You won't find shares of Datavant stock for sale or trade on any of the public stock exchanges. It's because it doesn't exist. The owner of Datavant has kept the company under private ownership status. The company has not yet filed for an initial public offering. Our research has not turned up any evidence of plans to take Datavant public. The annual revenues for Datavant for the year ending 2020 were $700 million. It's operating at a profit and does not need to resort to the public arena for fundraising. Going public can be a blessing or a curse. It's not a resource that is necessary or beneficial for Datavant at this time in its development.
20. Datavant is a company to keep your eye on
Datavant is a young company that provides technology products and services in high demand in the medical arena. They serve big data, pharma, and biotech industries with solutions for safety and securely sharing of medical data and improve the processes for setting up and assessing clinical trials for treatments that could save lives and improve the quality of life for millions. They've patented and trademarked intellectual properties to maintain distinctness within their niche of the pharma and tech industries. The private company is already profitable at a developmental stage when most new businesses still struggle to stay alive. It's relevant to the current world we live in and has bright prospects for continuing to thrive and grow.
Written by Allen Lee
Read more posts by Allen Lee