Funds for Workforce Health Data Specialist

In the US, healthcare analytics provider Springbuk has secured $3.75m of Series A financing, to be used to fuel strategic hiring and product innovation.

Springbuk collects and measures corporate health data from over 18,000 employers which the firm says represent over 60 million employee lives. US employers spend an estimated $31bn a year on corporate wellness, according to the firm, but three quarters of businesses have no way of measuring the return on such investment.

Springbuk's cloud-based software pulls together disparate health intelligence sources including medical claims, pharmacy, biometric, payroll and activity data, allowing users to measure health programs and identify at-risk members.

The new funding was led by midwest VC firm Lewis & Clark Ventures, whose MD Brian Hopcraft now joins the Springbuk Board of Directors. He comments: 'Springbuk is solving a big problem, as nearly every employer is burdened with rising health costs, and the complex decisions they make about the health of their workforce are too often made with inadequate information. Springbuk's platform brings together all of the relevant data for employee health and equips HR organizations with cutting edge analytics'.

Springbuk CEO and co-founder Rod Reasen says the new investment will allow the firm to help more employers measure and target their investments, to 'maximize their healthcare dollars'.

Web site: www.springbuk.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.