SOURCE: Enclarity Inc.

January 08, 2007 13:57 ET

Enclarity Secures Series B Funding

Healthcare-Focused Software Company Closes $10 Million in Funding From Bain Capital Ventures and Ignition Partners; Crisan to Join Enclarity Board of Directors

ALISO VIEJO, CA -- (MARKET WIRE) -- January 8, 2007 -- Enclarity Inc., an information management and analytic software company focused on the healthcare market, today announced that it has secured $10 million in Series B funding. The investment was led by Bain Capital Ventures and was joined by Ignition Partners, which provided original funding to Enclarity. The company will use the funding to continue its rapid expansion.

Enclarity also announced that Jeff Crisan, director at Bain Capital Ventures, was elected to the Enclarity board of directors in conjunction with the financing.

"Each year, incorrect or outdated healthcare provider information costs health payers more than $26 billion, and, from our perspective, Enclarity's solution to the provider data quality problem is the best in the industry," Crisan said. "We believe that Enclarity's products and services can add tremendous value for healthcare payers."

"Enclarity is one of our most promising investments," said John Zagula, a partner with Ignition Partners and managing director of Qiming Venture Partners, Shanghai, China. "They're delivering on what we think is a solution that can have a material impact on the operations of healthcare plans and payers nationwide."

"We're proud to partner with Bain Capital Ventures and Ignition Partners, two of the world's leading venture capital firms," said Sean Downs, Enclarity president and CEO. "With first-round funding from Ignition Partners, we built strong market response to our provider data integration solutions that help healthcare payers dramatically improve their operations. With this new round of funding, we can scale our infrastructure to accommodate our growing business and expand into new markets."

Inaccurate and outdated provider information significantly impacts the operational efficiency and profitability of healthcare payers. In response, Enclarity created ProviderPoint™, a Web-enabled Software as a Service (SaaS) solution that automatically cleans inaccurate provider data. Using technology and experience that brought efficiency to the financial services industry, Enclarity improves the effectiveness of information management for healthcare payers by ensuring their data is accurate and current. In addition, Enclarity is the only solutions provider to offer:

--  Legitimate rights to the use of its provider data
--  Proprietary AcuSync™ technology to assure the highest level of
    provider data accuracy
--  The Enclarity rules engine to allow payers to customize output for
    actionable results
About Enclarity

Enclarity™ brings new solutions to fight an old problem for healthcare and insurance payers: provider data errors. The company's software uses advanced analytics and proprietary technology coupled with a massive referential database and telephone verification to clean provider files, assuring the data is accurate and current, increasing the productivity and profitability of our customers.

From keeping provider records correct and up-to-date with integrated solutions to helping businesses prepare for the National Provider Identifier (NPI) mandates, Enclarity dramatically improves the integrity and reliability of healthcare data.

Enclarity Inc. is a privately held company headquartered in Aliso Viejo, Calif. For more information, visit

Better provider data. Right now.™

About Bain Capital Ventures

Bain Capital Ventures ( is the Boston-based venture capital arm of Bain Capital, whose affiliates manage over $45 billion of assets. Founded in 1984, Bain Capital and its affiliates have invested in over 230 companies with such notable successes as Doubleclick, Gartner Group and Staples. Our history of investing in early stage companies also dates back to 1984, having made over 110 venture-stage investments since inception. In 2001, we formed Bain Capital Ventures as a separate arm of Bain Capital to focus exclusively on growth investments.

About Ignition Partners

Ignition Partners, ( headquartered in Bellevue, Wash., is a premier venture capital firm focused on investments in software and communications technology, with a particular emphasis in enterprise and consumer facing software and services, telecommunications and network infrastructure. Ignition brings together an unparalleled combination of domain focus, technical expertise and global operational experience. Ignition's partners are proven business leaders who have built some of the world's most successful businesses of the last two decades, including Microsoft Windows and Office, McCaw Cellular Communications, and AT&T Wireless. The VC's founders are also credited with leading McCaw's entry into wireless and Microsoft's Internet turnaround.

Contact Information