Boston-based healthtech company Abacus Insights announced in June that it raised more than $28 million in Series C funding, bringing its total venture backing to more than $81 million.
In a statement posted to the company website, Founder and CEO Minal Patel said the influx of financial backing signified investors’ enthusiastic support for Abacus Insights and its services, providing cloud-based digital management platforms for healthcare organizations.
“This new funding validates our company’s mission, which is to help health plans liberate health data,” Patel said. “Doing so empowers consumers to make better health choices and physicians to make more informed treatment decisions.”
Senior Talent and People Operations Partner Alison Keefer said the company is excited to use the funds to scale its business and increase employee headcount. While leaders are recruiting across departments — in sales, customer success, product, people and more — their biggest hiring priorities are for software, data and test engineers.
“Our engineering team is leveraging some of the industry’s most cutting-edge tools and technologies,” Keefer said, naming tech stacks from Amazon Web Services, Azure and Google Cloud Platform, among others. “Our entire engineering team is about 38 people, so adding 10 engineers will put us at a considerable advantage when building out the capabilities and connections of our platform for new and existing clients.”
For people interested in working at the big data company, Keefer suggests applying through the company’s careers page or reaching out to recruitment team members.
“Even if there isn’t a role that matches your skill sets at the given time, our team is always interested in getting to know others in the tech and healthcare industries, so please send a personal note with a connection request,” Keefer said. “We’ll get in touch when a role opens up.”
How much did Abacus Insights raise in funding, and when was it announced?
We — Abacus Insights’ incredible leadership and finance teams — raised more than $28 million in a Series C round from new and returning investors, which we announced this past June.
This most recent round was led by a new investor, MultiPlan, a leading provider of data analytics, cost management and payment and revenue integrity solutions for the U.S. healthcare industry. Our returning investors include Blue Venture Fund, Charles River Ventures, .406 Ventures, Horizon Healthcare Services and Echo Health Ventures. We’re incredibly proud to continue our partnership with these organizations. Our investors believe that better data means better care.
This most recent investment represents an important step in achieving our goal in making healthcare more personalized and cost-effective for everyone. The recent financing brings our total venture backing to more than $81 million. We’re excited to scale the business, accelerate the capabilities and connections of our platform and add to our already amazing roster of talent.
This most recent investment represents an important step in achieving our goal in making healthcare more personalized and cost-effective for everyone.”
Which teams are Abacus Insights’s biggest priorities for headcount growth right now?
The biggest priority for our headcount growth right now is among our various development and engineering teams. We’re hoping to fill around 10 engineering positions by the end of this year. We’re seeking entry-level to principal-level software engineers, data engineers and test engineers.
Our engineering team is leveraging some of the industry’s most cutting-edge tools and technologies. Our development stack includes Amazon Web Services (Redshift, EMR, Athena, EKS, etc.), Azure, Google Cloud Platform, Databricks, Snowflake, Kubernetes, Docker and more.
We’re also expanding all of our teams across the business including sales, customer success, product and people and culture.
What’s the best way for a candidate to progress to a phone screen with you?
There are a few great pathways for a candidate to progress to a phone screen with our recruiting team. The first and likely easiest way is to apply directly to our careers page and submit your resume. The second best way to make an impression is to reach out to one of our recruiting team members on LinkedIn and share your interest in our business or mission.
