API platform for healthcare data exchange, Particle Health secured $25M in Funding

Particle Health, a New York-based provider of an API platform for healthcare data exchange, has now secured $25 million in a funding round.

Particle Health was founded by Troy Bannister. It has built the integrations and APIs that enable seamless data experiences for healthcare companies. Its comprehensive API combines data from 270 million plus patients' medical records by aggregating and unifying healthcare records from lots of sources. The platform then standardizes the data to FHIR R4 to make sure that they are usable at scale.

Troy Bannister, Particle Health co-founder and CEO, said, "Particle Health was founded with the mission to dramatically change lives through access to vital medical data. Since day one, we’ve established ourselves as an industry leader that standardizes records, identifies key pieces of information, and focuses on patient attributes that lead to more clinically relevant decision-making. With this latest round of funding, our team is looking forward to evolving the capabilities of our API platform further to empower our users with even more meaningful and actionable data."

Rebecca Lynn, co-founder and general partner at Canvas Ventures, said, "What Particle Health has been able to accomplish when it comes to helping organizations find and use clinical data at scale is a game-changer. Troy’s experience in healthcare, along with the team’s overall background in digital health, has led them to build a product that is solving data access, standardization, and integration problems. This investment will help evolve Particle’s API platform, allowing users to uncover more actionable care improvements from their patient data. Just as Plaid enabled the fintech industry, Particle is doing the same for healthcare."

The round was backed by Canvas Ventures with participation from Story ventures, Menlo ventures and Pruven Capital.

The company, as of now, has plans to use the new funds to accelerate the growth of its analytics products, facilitate the launch of its partner program, and serve its customer base by scaling its customer service and engineering team.