UPMC Enterprises has led an $18.25 million Series B1 funding round for Carta Healthcare, a leading provider of artificial intelligence-powered clinical data management solutions. The investment, announced in May 2025, includes participation from new strategic investors MemorialCare Innovation Fund, Rex Health Ventures, Tampa General Hospital Ventures, and continued support from existing investors including Memorial Hermann Health System, Frist Cressey Ventures, and Mass General Brigham Ventures.
The funding will enable Carta Healthcare to expand its customer base, particularly in the life sciences sector, while advancing its mission to transform clinical data into actionable insights for healthcare providers.
Strategic Investment to Address Healthcare Data Challenges
Healthcare systems face significant challenges with clinical data management, including time-consuming and labor-intensive processes for data abstraction and patient trial matching. Carta Healthcare's technology addresses these pain points by leveraging AI to streamline data collection and analysis.
"UPMC Enterprises invests in companies that are solving real problems in healthcare delivery," said Brent Burns, Executive Vice President at UPMC Enterprises, the innovation, commercialization, and venture capital arm of UPMC. "Health systems face significant challenges associated with clinical data abstraction and patient trial matching, which are time-consuming, labor-intensive processes. Carta Healthcare leverages AI to streamline data abstraction and provide analytics that clinicians can use to improve patient care."
The investment aligns with UPMC's commitment to delivering life-changing medicine to patients through innovative technologies that enhance clinical decision-making and operational efficiency.
AI-Powered Clinical Data Management Solutions
Founded in 2017, Carta Healthcare has developed a suite of AI-driven tools that transform how healthcare organizations collect, analyze, and utilize clinical data:
- Atlas: An AI-driven platform that automates the extraction and standardization of clinical data for registry submissions, improving accuracy and efficiency
- Navigator: A tool that leverages healthcare data to address operational challenges such as anesthesia coverage and operating room scheduling
- Realyze Intelligence Technology: Recently acquired from UPMC Enterprises, this solution uses AI to match patients to appropriate clinical trials, accelerating research while reducing costs
The company's approach combines artificial intelligence, machine learning, and deep clinical expertise to convert both structured and unstructured healthcare data into high-quality, standardized datasets. This enables providers to make more informed decisions about treatment, improve patient outcomes, and enhance operational efficiency.
Expanding Capabilities Through Strategic Acquisition
In late 2024, Carta Healthcare acquired Realyze Intelligence from UPMC Enterprises, strengthening its capabilities in oncology and clinical trial matching. The Realyze solution leverages AI to rapidly analyze patient data and identify matches for clinical trials and research studies, providing patients with access to cutting-edge treatments while accelerating the research process.
"This significant investment from leading health systems further validates and empowers our mission to harness the power of data, ensuring that care teams and researchers have the information they need, when they need it," said Carta Healthcare CEO Brent Dover. "With their support and adoption of our solutions, we can continue to expand upon our deep clinical domain expertise, scale our operations and product deployment, and activate their structured and unstructured data as close to real time as possible."
Healthcare System Investors See Strategic Value
The participation of multiple healthcare system investment arms underscores the strategic importance of Carta's technology in addressing critical industry challenges.
Feby Abraham, Executive Vice President and Chief Strategy Officer at Memorial Hermann Health System, emphasized the alignment with their organizational mission: "Our vision is to create healthier communities, now and for generations to come. By partnering with Carta Healthcare, we are investing in a platform that will help us drive innovation and provide the best care possible for our patients."
Navid Farzad, Managing Partner at Frist Cressey Ventures, highlighted the financial benefits of Carta's approach: "Since our initial investment, Carta has been laser-focused on solving this challenge for health systems by using the Carta Healthcare AI platform to automate the data abstraction process, generating high-quality clinical data while simultaneously realizing an immediate ROI by reducing the high labor cost of data abstraction."
Financial Health and Market Opportunity
According to Lucas Tanner, Carta Healthcare's CFO, the company has demonstrated consistent year-over-year growth by focusing on delivering measurable value to healthcare systems.
"This new capital will allow us to scale our team and infrastructure to meet increasing market demand," Tanner stated. "With a strengthened balance sheet and critical insights from industry-leading strategic investors, we are well-positioned to capture the significant market opportunity ahead of us."
The investment comes at a time when healthcare organizations are increasingly seeking AI-powered solutions to improve data management, enhance clinical decision-making, and streamline operations. By addressing these needs, Carta Healthcare is positioned to play a significant role in the ongoing digital transformation of healthcare delivery and clinical research.
