ClearDATA Networks, a healthcare cloud computing platform and service provider, has closed its oversubscribed $14 million Series B funding from Merck Global Health Innovation Fund, Excel Venture Management and Norwest Venture Partners. The company previously had a first closing of its Series B in August and held a second closing for strategic investor Merck Global Health Innovation Fund. The capital will be used to maximize company growth opportunities and momentum in the health information technology cloud computing market.
With the fresh financing, ClearDATA has garnered a $30 million valuation, more than tripling its $9 million valuation from March 2012. The company’s suite of products allows providers to fully automate, protect and securely manage healthcare medical records.