Pieces Tech Grabs $21.6M to Build Out Healthcare Analytics Platform
Pieces Technologies, a Dallas-based healthcare software startup, has just scooped $21.6 million in Series A funding to build out its platform, which was recently adopted by the Children’s Health System of Texas and other healthcare systems.
The round was led by PAC Partners and Jump Capital, with participation from Order of Saint Francis Healthcare System of Peoria, Ill., and Children’s Health Ventures.
Such a huge amount of capital raised in a Series A round would normally raise quite a few eyebrows, but in Pieces’ case, we probably shouldn’t be surprised. For one thing, the startup is actually a spinoff of the prestigious Parkland Center for Clinical Innovation (PCCI), a nonprofit organization that specializes in researching predictive and surveillance. More importantly, its technology platform has actually been more than 10 years in the making, with founder and CEO Dr. Ruben Amarasingham having started its development way back in 2006.
Pieces’ actually offers two separate products, namely Pieces Decision Support and Pieces Iris. The former is a kind of data analytics platform for medical professionals, one that compiles data from multiple sources within the healthcare system in order to carry out analysis, then make recommendations to doctors on the optimal treatment and care program for individual patients.
“You can take a number of sits and using their analytics measure the interventions and reduce the read or risk of infection,” Pete Perialas, chief strategy officer and senior vice president of Children’s Health, told D Healthcare Daily. “This will improve patient experience and outcomes.”
The second product, Pieces Iris, allows community agencies and groups to better manage their clients and connect with healthcare systems in order to coordinate patient care.
Pieces founder Amarasingham told D Healthcare Daily that his product was in big demand from healthcare systems across the country.
“We have been waiting for this moment for a long time,” he said. “We expect in the next year for software to be deployed nationwide.”