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PHEMI Closes $12.2 Million Venture Financing for Big Data Healthcare Startup

Vancouver’s PHEMI today announced it has raised a $12.2 million round of venture financing to expand the commercialization phase of the company.

Secured by a combination of new and existing investors, the financing was co-led by CTI Life Sciences Fund (CTI) and British Columbia Discovery Fund (Discovery Capital). It also included significant participation from early investors BDC Capital Healthcare Venture Fund and Yaletown Venture Partners.

PHEMI is delivering security, privacy and governance insights to healtcare through the promise of big data.

RELATED: Vancouver Startup Phemi Plans to Bring Much-needed Innovation to Healthcare Space

With its initial focus in the healthcare and life sciences sectors, PHEMI will expand its focus to include a variety of data-driven communities, including public sector, insurance and financial services.

“Enterprises of all sizes are recognizing the enormous opportunity for discovery and innovation buried in their data,” said Dr. Paul Terry, president and CEO of PHEMI.

“Data growth is massive— smart devices, the digitization of healthcare, genomics and other omics data, and dataflow from various sources such as email and the Internet—businesses must be able to take advantage of big data to remain competitive. Organizations that can move quickly to unlock their data silos, transform them into digital assets, and share this information, while protecting privacy and security, will win. With this additional capital, PHEMI will expand our sales, marketing and engineering efforts to ensure our partners and customers can use all of their data to create value and innovate.”

PHEMI was founded by a team of serial entrepreneurs, Dr. Paul Terry, Adam Lorant and John Seminerio and Chris Thompson and Alan Rabinowitz, two St. Paul’s Hospital cardiologists.

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