Global life sciences cloud data and analytics provider SHYFT Analytics has completed a $12.5 million Series B funding round. McKesson Ventures, Medidata Solutions, Health Enterprise Partners, and Milestone Venture Partners are among the participants. The funds are earmarked for platform growth.
“This financing represents a major step forward in building SHYFT into one of the biggest and most important industry cloud companies for life sciences and we’re excited to have the backing of such a diverse and strategic group of investors,” SHYFT cofounder and CEO Zachary King said.
McKesson Ventures is the venture capital arm of Fortune 5 global healthcare company McKesson Corporation. Medidata delivers cloud-based clinical development technology and analytics. Based in New York, Health Enterprise Partners is a growth equity firm focused on health care services and information technology companies. Milestone Venture Partners is a venture capital fund that invests in early stage digital health businesses. It has $135 million under management.
“SHYFT’s cloud-based platform provides the necessary foundation for superior enterprise data management, integration, and visualization,” McKesson Ventures managing director Dave Schulte said. “Their impressive growth and strong customer demand position SHYFT as the market leader, particularly in the category of analyzing real world outcomes for pharmaceutical treatments.”