VEDA Data

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VEDA Data ingests internal and external data sources and applies machine learning and AI to help health insurers and systems increase data accuracy and save millions of dollars in their provider network data automation.

The Company’s platform is expanding to broader set of value propositions for healthcare organizations.  VEDA provides solutions that drive a significant value proposition to Medicare, Medicaid and Commercial Plans, and State Medicaid.

vedadata.com

Empactful’s Special Advisor Carrie Nixon introduced VEDA to Empactful Capital (EC) in January 2018. Empactful informally advised the business on several strategic initiatives prior to formal working relationship in Q3 2018. EC completed it seed investment in November 2018 and then led VEDA’s institutional Series A round in late 2019.

The working engagement pre- and post-investment in the Series A round included developing the Company’s growth plan, supporting team and Board recruitment, deep support in developing their go-to-market plan and business development efforts, plus broader organizational development. Empactful led efforts to prepare the Company for its Series B round in July 2021 with 2 Board seats and 1 Board observer role.

EC has unparalleled expertise in provider network management and related cost containment solutions given Verisk Health, MARS/MultiPlan, VIIAD, MedeAnalytics, Portico Systems and other prior portfolio investments and operating roles.

Provider directory management is a major challenge for payers and at-risk health systems with penalties for inaccurate data and No Surprises Act. Network development, management, and optimization is crucial for effective risk-based contracting and success in a value-based payment world.

Growth Plan Results:

• Health Plan Market Validation: Empactful provided SMEs whose expertise and relationships enabled VEDA to validate and refine its value proposition.
• Marque Client Traction: Company’s clients include 6 of the top 10 health plans in the US due to Empactful’s introductions and deal development support.
• CEO & Executive Team Mentorship: Empactful’s Board members mentored the CEO and her team, plus supported team, Board and overall organizational development that led to Series A and Series B round milestones being achieved.
• Growth Funding: Closed Series A round which Empactful led in Q4 2019 and ~$50M Series B round with Oak HC/FT in July 2021 which represented 6.4x and 4.5x valuation step-ups on Empactful’s seed and Series A investments in 33 and 22 months, respectively. Empactful remains 2nd largest investor in the Company after Oak HC/FT.