IQVIA leads $40m financing round for RWE and data analytics company Cota

By Melissa Fassbender contact

- Last updated on GMT

(Image: iStock/jansucko)
(Image: iStock/jansucko)
The healthcare real-world evidence (RWE) and data analytics company Cota has completed a Series C financing round led by IQVIA.

EW Healthcare Partners, a growth equity firm, was also a “major” participant in the financing round, which raised $40m.

The funds will be used to advance Cota’s proprietary Cota Nodal Address (CNA) system, a precision disease classification system built on the company’s real-world data set, according to Cota.

The money will help scale its solutions across healthcare providers, payers and life sciences companies, according to the company.

Cota’s CNA-based Real World Evidence (RWE) offerings include Cota Research, Cota Payer Solution, Cota Provider Solution and Cota Life Sciences.

"We are excited to support Cota's unique oncology analytic environment and real-world data capabilities​," said Jon Resnick, president, real-world and analytics solutions, IQVIA, in a press release.

"We have been investing in applying data science to accelerate drug development, ensure patient access to innovative therapies, and make value and outcomes more transparent to align all healthcare stakeholders​,” said Resnick, adding that the investing in Cota is consistent with this vision.

As part of its participation, IQVIA has also gained a seat on Cota’s board of directors.

IQVIA is not providing any additional comment on the investment at this time.

Memorial Sloan Kettering Cancer Center also participated in the round, joining existing investors including Boston Millennia Partners, Horizon Blue Cross Blue Shield of New Jersey, Hackensack Meridian Health, and Atoc Holdings.

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