The venture capital arm of Fountain Valley, Calif.-based MemorialCare led a $9 million financing round for healthcare risk management company Censinet, in a round that saw additional participation from Los Angeles-based Cedars-Sinai, Johnson City, Tenn.-based Ballad Health and Raleigh, N.C.-based UNC Health Rex.
The company will use the financing to scale and expand its Censinet RiskOps platform, which allows healthcare organizations to share and manage data risk. The financing brings the company's total raised to more than $22 million, according to a Jan. 11 Censinet news release.
"The company's two-sided network approach for third-party risk assessment is invaluable – to our information technology teams and team members throughout the health system, to our third-party vendors and, most importantly, to the patients and community we serve," Ballad Health CIO Pam Austin said.