CED Member Update: Bivarus Raises $2 Million to Fuel Expansion Following Strong Growth in 2015
CED Member Update: Bivarus Raises $2 Million to Fuel Expansion Following Strong Growth in 2015

Investors from RTP, Nashville and Boston Participate

DURHAM, N.C. (Business Wire) March 23, 2016 – Bivarus, a patient-centered analytics company working with healthcare organizations to measure and analyze the patient experience, announced today it raised $2 million in its oversubscribed round of funding. This latest financing was co-led by new investor Hatteras Venture Partners and existing investor Excelerate Health Ventures. In addition to local investors, Bivarus attracted new institutional investors from outside of the Raleigh/Durham region: NueCura Partners of Nashville, Tenn., and Boston Millennia Partners of Boston, Mass.

Today’s announcement follows strong growth in 2015, during which the company significantly expanded its customer base, which now includes Covenant Surgical Partners, IVF New England, Johns Hopkins Hospital, RelyMD and Texas Oncology, among many others.

Bivarus brings an entirely new science of measuring the patient experience with its patented real-time analytics platform and plans to use this most recent round of capital to continue expanding its customer base and product offering. Additionally, the company expects to hire approximately 10 new employees locally over the next year. New hires are expected in sales, marketing and product engineering.

“As a new investor in Bivarus, we have tremendous confidence in their continued growth,” said John Crumpler, General Partner, Hatteras Venture Partners. “Healthcare organizations must become more responsive to the patient experience in order to thrive as the industry shifts towards value-based medicine. We look forward to working with the Bivarus team as they scale their platform and services to meet a rapidly emerging and vital market opportunity.”

“At NueCura Partners, our goal is to identify and invest in those companies that are poised to transform healthcare,” said Don Lazas, MD, Founder and Managing Partner of NueCura Partners. “That’s the exact promise we see in Bivarus. Value in healthcare will, increasingly, be linked to the patient experience. Bivarus’ proprietary technology will allow institutions to identify opportunities to improve the patient experience early on and make needed changes more efficiently, thus enhancing care delivery.”

 

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