SHYFT Analytics, a provider of cloud data and analytics for the global life sciences industry, announced that the company has secured $12.5 million in Series B funding from McKesson Ventures, Medidata Solutions, and other healthcare and technology investors.
SHYFT will use the investment to continue its growth and expansion and to further develop and advance its healthcare cloud analytics platform.
“This financing represents a major step forward in building SHYFT into one of the biggest and most important industry cloud companies for life sciences,” said SHYFT CEO and co-founder Zackary King. “It is a unique and valuable opportunity to have partners who understand our customers and share our vision for advancing healthcare through analytics.”
SHYFT’s new product, SHYFT RWE, is the first of its kind. It aggregates electronic medical record (EMR) data and delivers end-to-end patient and disease studies in days rather than months. This will aid researchers in studying drug safety, comparative effectiveness, drug utilization, treatment pathways, and patient outcomes. SHYFT’s customers already include two of the top 10 global pharmaceutical companies and a rapidly expanding customer base in other fields.
SHYFT’s customers operate across a broad array of therapeutic areas, but are most strongly represented in the fields of oncology, cardiovascular disease, diabetes, and other specialty and rare disorders.