PHEMI Closes $10 Million Venture Capital Financing
VANCOUVER, British Columbia, June 27, 2017 — PHEMI, the company delivering big data solutions with built-in privacy, governance, and enterprise-grade management, today announced it has raised a $10 million venture financing to expand the company’s commercialization through expanded sales and marketing activities and robust outreach into emerging vertical markets. Quark Venture Inc. and GF Securities, through the Global Health Sciences Fund, is the newest PHEMI investor, joining an investor group previously announced in August 2015. Existing investors CTI Life Sciences Fund (CTI), BDC Capital Healthcare Venture Fund, and Yaletown Partners all co-led the new round of investment.
“We recognize the potential big data holds for a growing number of companies operating in both the life sciences industry and other verticals,” said Karimah Es Sabar, Chief Executive Office of Quark Venture and Director of GHS Fund. “It has become readily apparent that the demand for big data solutions that meet governance and privacy requirements will continue to grow, and PHEMI demonstrates leadership and innovation in advancing requisite, enterprise-grade big data solutions.”
PHEMI helps data-driven companies unlock and share data without compromising privacy. By combining the scale and performance of big data with features that support rigorous privacy and governance, PHEMI allows enterprises to focus on deriving insights to drive operational efficiencies, fuel innovation for competitive advantage, and lower costs.
“Yaletown Partners is committed to helping PHEMI advance its leadership position in big data solutions for healthcare and other industries,” said Mike Satterfield, Partner, Yaletown Partners. “We have a strong track record investing in Canadian emerging-growth technology companies that enhance the productivity and competitiveness of enterprise customers worldwide, and we are proud to be a founding member of PHEMI’s growing syndicate of investors.”
The latest investment in PHEMI will be utilized to enhance R&D efforts and expand the sales channel for its award-winning solution, extending their solution offerings and sales reach through application and system integrator partners and data science expertise.
“Today, companies recognize that their data represents a form of capital that, using the right platform and tools, can be unlocked and managed to enable analytics and data science capabilities previously unattainable,” said Paul Terry, CEO, PHEMI. “As with healthcare, a common theme across a growing number of vertical markets, such as insurance, finance and the public sector, is the importance of data governance and the protection of sensitive data. This latest round of financing will allow PHEMI to expand its reach into these markets. We’re fortunate to welcome Quark as a new member to the PHEMI team, as we work with enterprises to use data responsibly and to achieve new insights that can transform their businesses.”
PHEMI delivers privacy, security, governance and enterprise-grade management for big data. Its flagship product, PHEMI Central Big Data Warehouse, embeds privacy policies and enforces access privileges, and data sharing agreements at the data level, removing a critical roadblock standing in the way of enterprises that aim to become data-driven.