Minneapolis Health IT Co. Sansoro Health Raises $8M
Sansoro Health Inc., a Minneapolis-based health care startup specializing in data integration, just reeled in $8 million in a series B fundraising round. The capital will advance access to Sansoro’s Emissary software platform, which streamlines and simplifies the migration of digital health data to a patient’s electronic health record, or EHR.
Lead investor in the round was Boston-based venture capital firm LRVHealth.
“We are fortunate to have LRVHealth as a partner to support our vision to unleash the power of health data,” said Jeremy Edes Pierotti, CEO of Sansoro Health, in a statement. “LRVHealth’s team and its network of health care industry investors will help us grow even faster and build on our success in delivering a practical, efficient and scalable solution for EHR integration.”
For its part, LRVHealth general partner Keith J. Figlioli said in prepared remarks that LRV was drawn to Sansoro because it’s proven impact in helping providers, payers and patients better move and integrate data across sources.
“We’re looking forward to extending and accelerating that impact,” said Figlioli.
The limited capabilities of existing EHR-related software to exchange and use information is considered a substantial challenge in health care. It’s believed to be partly responsible for rising costs, inefficient care and hindering innovation in the digital health space.
The software integration issue can slow doctors’ ability to access patient records, according to a Sansoro spokesperson, including medications, allergies, recent lab results and scanned images. The Emissary platform, though, said the spokesperson, makes patient, provider and payer data liquidity possible between different electronic health records and third-party apps.
The platform does this by using a universal interface that connects all needed data and enables real-time records information exchange in a fast, secure and simple way.
This idea of a universal interface – or application programming interface (API) technology – comes recommended by the Centers for Medicare and Medicaid Services, which emphasizes the dependency of payment and reporting requirements on software integration.
Sansoro estimates its platform has reduced extraneous data integration efforts for its health partners by upwards of 75 percent, increased the speed of deployment of applications by 80 percent, and reduced the burden on hospital systems’ IT staff.
Founded in 2014, Sansoro has enjoyed success in previous fundraising rounds working toward developing, marketing and enhancing its technology, including drawing $5.2 million last spring – and $14.5 million total to date. The company also received backing from TreeHouse Health in 2016, when Sansoro was still in its early stages.
With this recent fundraising round, in addition to LRV, contributions came from existing investors Bain Capital Ventures and Healthy Ventures.
“As EHR adoption catalyzes an entirely new digital health IT market, the need for Sansoro Health’s data integration platform is increasingly critical,” said Yumin Choi, managing director of Bain Capital Ventures. “We believe Sansoro Health has both the product and leadership to dominate in the multi-billion-dollar digital health connectivity market.”