The venture firm, which focuses on mid-stage, emerging and high-growth technology companies, is an affiliate of North Bridge Venture Partners.
Valence said it would use the funding to accelerate the company’s growth by recruiting experience healthcare talent, investing in sales and marketing and expanding its range of solutions.
The business combines data aggregation and analytics with web-based reporting to help health providers deliver collaborative care while meeting new standards and regulations.
North Bridge GE principal Roshen Menon will join the Valence board as an observer as part of the deal.
Bill Geary, a partner at the firm, said, “Regulatory and economic incentives are forcing fundamental changes in how patient care is being delivered.
“Valence Health has established itself as an emerging leader in this fast-growing market.
“The company has put together a proven solution that brings together the tools, technology, and processes to assess opportunities, measure outcomes and ensure appropriate payment for quality care across various delivery settings within organizations.
“We are confident that we are partnering with a great team in the competitive healthcare market and look forward to helping Valence Health reach its full potential.”
North Bridge Venture Partners has more than $3bn of assets under management across seven venture funds and one growth fund.
The firm has invested in over 200 technology companies in the healthcare, software, communications, materials and digital media sectors.
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