Kythera Labs Secures New Financing from Espresso Capital to Build On 2,400% Year-over-Year Increase in its Wayfinder Platform Utilization
Summary
Funds will help Kythera expand product, partnerships, and people to build strong infrastructure for expected near-term and long-term growthFRANKLIN, Tenn., March 28, 2022 /PRNewswire/ -- Kythera Labs, the leading data science platform provider for healthcare, today announced financing led by Espresso Capital and advised by Brentwood Capital Advisors to support unprecedented growth and enhance its current offerings. Kythera will use the funding to link electronic health record (EHR) and consumer household data offerings, invest in new payer- and patient-level analytics, and scale its staff to bolster support for its rapidly growing customer base. In 2021, Kythera demonstrated similarly unprecedented growth: 20+ new customers, including top five pharmaceutical companies and leading health systems Doubled Annual Recurring Revenue each quarter for the past four quarters"There is a massive continuum of adjacent unmet and underserved data needs across the entire healthcare industry, and Kytheras solution sits right at that intersection by managing massive data sets and making information actionable," said Will Hutchins, Espresso Capital Managing Director. "This is an exciting milestone for Kythera and underlines their commitment for helping healthcare organizations solve industry challenges and drive innovation with the power of data and AI. "We are excited to partner with Espresso to further strengthen our platform and to support an expanding list of customers and use cases across healthcare and life sciences," said Jeff McDonald, CEO of Kythera.