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ArborMetrix Gets Additional $1.3 Million in Series B Financing

February 14, 2014

ArborMetrix, a provider of real-time healthcare analytics, announced that it has increased its Series B financing by $1.3 million to allow Renaissance Venture Capital Fund and Detroit Innovate to participate.

According to a release, the earlier round of Series B financing, announced in July, was led by RPM Ventures (RPM) alongside existing investor Arboretum Ventures. Wolverine Venture Fund also participated in the earlier investment.

The latest investment will accelerate ArborMetrix's national market expansion to meet surging demand for its proven real-time, risk-adjusted clinical performance analytics tools. ArborMetrix's analytics enable healthcare providers and payers to improve the quality, safety and cost-effectiveness of surgical and other specialty care.

"We have followed the progress of ArborMetrix and have continually been impressed with its innovative approach to healthcare analytics," says Chris Rizik, CEO of the Renaissance Venture Capital Fund. "There is an acute need for actionable information that can increase the quality of healthcare and reduce its costs, and ArborMetrix is a pioneer, developing unique tools that will help healthcare providers to address these issues in ways that simply haven't been possible before. The bar is high for Renaissance to invest directly in a company, but we were so excited by the great promise we see in ArborMetrix that we wanted to be part of it."

The Renaissance Venture Capital Fund is a Michigan-based fund that supports the growth of venture capital in Michigan while serving as a bridge between Michigan's emerging innovation company community and its strong industrial and commercial base.

"ArborMetrix is positioned extremely well for taking a leadership role in healthcare analytics," said Adrian Fortino, Vice President of Detroit Innovate. "We look forward to working with the team as they scale up nationally."

Detroit Innovate is a Southeast Michigan-focused early stage investment fund targeting technologies in the healthcare, transportation, advanced manufacturing and resource efficiency sectors.

ArborMetrix CEO Brett Furst stated, "The local support for enabling fast-paced growth in Michigan companies is incredible. We are very excited to welcome Renaissance and Detroit Innovate into the ArborMetrix fold. Their involvement in accelerating our growth will certainly open up exciting new opportunities for ArborMetrix to expand across the U.S."

More Information:

www.renvcf.com/

www.detroitinnovate.com

www.arbormetrix.com

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