Big Cloud Analytics Continues Company's Strategic Growth With Round of Funding
$4.5 Million Series A Round Led by Edison Partners Supports Health IT and Predictive Analytics Company's R&D and Rapid Product Rollouts
ATLANTA, Sept. 13, 2016 /PRNewswire/ -- Big Cloud Analytics Inc. (BCA), a leading provider of predictive analytics technology to the insurance and healthcare industries, today announced the company's continued strategic expansion with the closing of a $4.5 million Series A round of funding. Led by Edison Partners and with additional support from both existing and new investors, the investment serves to support BCA's expanding global sales and marketing efforts and for the development of new functionality for enterprises and their consumers. BCA's solutions make healthcare simple and easy to understand, guiding enterprises to better manage their population's health.
The investment validates a year of strategic moves on the part of the company to secure its leadership role as a worldwide leader of predictive analytics technology for the Internet of Things for the insurance and healthcare industries. BCA innovates solutions for smart watches, wearables, health and other connected devices in 29 countries, working closely with global distribution partners such as Intel, CDW, and Grupo Datco and customers such as Merck and MLC Life Insurance, as well as other health and life direct insurers and reinsurers.
"We are excited to have found such a distinguished, experienced partner to accelerate our growth and help us meet our goals to serve both our enterprises customers and their consumers. Along with our other investors, their support validates our business model and will allow us expand existing and to roll out new solutions quickly and more efficiently," states J Patrick Bewley, CEO of Big Cloud Analytics.
Recognized in 2014 by CIO Review as one of the Top 100 most promising companies in Big Data globally, BCA helps life and health insurers, scientists and pharmaceutical companies conducting clinical trials, assisted living facilities, memory care professionals and organizations helping seniors age in place, as well as employers' wellness professionals to collect and gain insights from the data, manage or achieve healthier populations. Using its COVALENCE™ software platform to provide unprecedented insights for population behavior and health, BCA is able to securely ingest large amounts of data in real time for up to millions of users per customer, and array the data in easy to understand dashboards. BCA also offers individual level dashboard views that allows a person to get a better, more analytical view into their own health.
"BCA is tapping into the potential of wearable devices to change how we manage healthcare, which fits squarely within our wheelhouse," says Joe Allegra, general partner of Edison Partners, who has joined the BCA board of directors. "The company has laid a solid foundation in the quickly evolving connected health industry and clearly is poised for market leadership. We're excited to be a part of that."
About Big Cloud Analytics
Big Cloud Analytics leads the market in real-time predictive analytics technology for the Internet of Things (IoT). Recognized in 2015 by Intel as a Health Innovation Award Finalist and by CIO Review as one of the Top 100 most promising companies in Big Data globally, the Company provides disruptive end-to-end solutions comprising both software and hardware through its proprietary COVALENCETM Analytics Platform. Big Cloud serves life and health insurance and other healthcare organizations, such as hospitals, pharma, senior living facilities, etc. as well as employers for population health management. For more information, visit www.bigcloudanalytics.com.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing technology industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases. Edison's active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team based in Princeton, NJ manages more than $1 billion in assets throughout the eastern United States.
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SOURCE Big Cloud Analytics Inc.
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