Abacus Insights, Leader in Health Plan Data Solutions, Raises $28 Million Series C Financing

Jun 16, 2022

Press Releases

Abacus Insights, Leader in Health Plan Data Solutions, Raises $28 Million Series C Financing

The company’s cloud platform enables a broad array of critical payor functions including interoperability,
risk adjustment, population health, and managing multiple vendor integrations, reconciling thousands
of unique attributes per patient to create a more personalized healthcare experience for their members.

BOSTON, June 16, 2022 — Abacus Insights, a leader in data management and interoperability solutions
for healthcare payors, announced it has raised a $28 million Series C round from new and returning
investors. The latest round was led by new investor, MultiPlan Corporation (NYSE:MPLN) (“MultiPlan”),
a leading value-added provider of data analytics, cost management, and payment and revenue integrity
solutions to the U.S. healthcare industry. MultiPlan is joined in this investment by returning investors
Blue Venture Fund, CRV, .406 Ventures, Horizon Healthcare Services Inc., and Echo Health Ventures.
“This new funding validates our company’s mission, which is to help health plans liberate health data,”
said Dr. Minal Patel, founder and CEO of Abacus Insights. “Doing so empowers consumers to make
better health choices and physicians to make more informed treatment decisions. Payors also use the
platform to drive efficiency in their business which further lowers costs for their members. We are
proud to partner with MultiPlan given their leadership position in data and analytics serving nearly every
payor in the country. MultiPlan shares our belief that better data means better care, and this
investment represents an important step in achieving our goal to make healthcare more personalized
and cost-effective for every individual.”

Abacus’s comprehensive technology platform enables healthcare payors to achieve and accelerate
initiatives across their core priority areas, including value-based care, member engagement and digital
transformation. The Series C funds will be used to scale the business, accelerate the capabilities and
connections of its technology platform, and add to its roster of technology talent. The financing brings
the Boston-based company’s total venture backing to $81 million.
SVB Securities acted as exclusive financial advisor to Abacus Insights.

 

About Abacus Insights

Abacus Insights enables health plans to offer a seamless, personalized care experience for members by
reconciling thousands of unique attributes about individual consumers and their health that legacy
systems simply cannot. Today, Abacus Insights with its health plan clients manage data for more than 21
million unique members and 15 million consumers. We allow health plans to fulfill a critical role in
ensuring that when a member visits the doctor’s office, lab, pharmacy, specialist, hospital and even at
home — the care provider always knows who they are, creating an “n-of-1” experience for all. For more
information, please visit www.abacusinsights.com or connect with us on LinkedIn or Twitter
@abacusinsights.

About MultiPlan

MultiPlan is committed to helping healthcare payors manage the cost of care, improve their
competitiveness and inspire positive change. Leveraging sophisticated technology, data analytics and a
team rich with industry experience, MultiPlan interprets clients’ needs and customizes innovative
solutions that combine its payment and revenue integrity, network-based and analytics-based services.
MultiPlan is a trusted partner to over 700 healthcare payors in the commercial health, government and
property and casualty markets. For more information, visit www.multiplan.com.

Abacus Insights Media Contact:
Peter Licursi, Chief Revenue Officer
peter.licursi@abacusinsights.com

MultiPlan Media Relations Contact:
Pamela Walker
AVP, Marketing & Communication
MultiPlan
781-895-3118
press@multiplan.com

MultiPlan Investor Relations Contact:
Luke Montgomery, CFA
SVP, Finance & Investor Relations
MultiPlan
866-909-7427
investor@multiplan.com