1m, a NYC-based data and analytics technology company, raised $10M in Series A funding.
The round consisted of $7.3M in venture funding and $2.7M in converted securities. Funding was led by Banner Health, with participation from Cleveland Clinic, Stanford Health Care, St. Charles Health System, Carle Foundation, and First Derivative Capital. Alongside the financing, representatives from Banner Health and Cleveland Clinic will be joining the 1m Board.
The company intends to use the funds to expand its go-to-market efforts and its intellectual property, and hire technical talent.
Led by former Goldman Sachs healthcare investment bankers Jeff Ellis and Chris Giuliano, 1m has developed a SaaS-based platform purpose-built to help healthcare systems manage financial, operational, and regulatory risk. The platform leverages data, analytics and monitoring tools that integrate into existing risk management workflows to deliver timely, high-ROI decision support and anomaly detection. Specific capabilities include:
- End-to-end risk assessment workflow tools, reducing administrative burdens.
- Continuously updated, healthcare-specific risk datasets to flag emerging threats.
- Quantification of operating and balance sheet risks and seamless integration with long-term financial and strategic planning.
- Leadership-friendly dashboards with risk management program outputs to ensure engagement.
- Built-in risk mitigation support, via proprietary data monitoring and anomaly detection tools.
FinSMEs
12/12/2024