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The Bethesda-based company’s technology is used by health care companiesx to navigate through complexand compliance-sensitive medical The $13 million is the total from all its investor s in the latest round, including its newesgt investor, . With the new investment, the nine-year-ol d company plans to expand its technology offeringzs and hire 25 to 30 people in thecomingt year. It currently staffz about 100 employees. CodeRyte’as client base includes 30 academicmedical centers, 30 billingg companies and 50 physician practices.
“Versanty looks for companies offerinvg unique products and services that deliver significant valuewto physicians, hospitals and other healthcare said Barbara Lubash, co-founder of Versantr Ventures. “We are impressedx with CodeRyte’s track record in improving the cost, accuracy and quality of coding forits clients, and its future potentia to revolutionize clinical data management.” The California-based healthg care venture firm has invested in nearly 100 companiee that have made key clinical contributions in therapeutic areas.
“In this difficult financial raising this capital on attractivde terms is a testament to the scalre of the healthcare IT market opportunityand CodeRyte’s compelling product,” said Bryan Roberts, managing genera partner of Palo Alto, Calif.-based a lead investor in Other investors include , Solstice Capital, Gold Hill Capital and .
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