New York, NY - 22C Capital (“22C”) announced today that it has made an investment in Definitive Healthcare (“the Company”), a leading data and analytics provider across the healthcare ecosystem. 22C was invited by Founder and CEO Jason Krantz, Advent International (“Advent) and Spectrum Equity (“Spectrum”), to join in the Company’s most recent recapitalization that was announced in June 2019. Financial terms were not disclosed.
22C is a private investment firm with an established track record of working with other private equity firms and founder-led companies to help them scale in key functional areas such as data, technology, and commercialization.
“We are very pleased to partner with Advent and Spectrum to help Jason and his management team realize the exciting vision he has set out for the Company,” said Randall Winn, Managing Partner of 22C. “Definitive Healthcare is currently in a phase of hypergrowth and 22C is well positioned to help with key operational initiatives that rely on scaling data collection, technology, product innovation, and commercial efforts, all areas where 22C has deep expertise."
Advent Principal Lauren Young added, “We are thrilled to partner with 22C who brings a unique value creation approach given their strong operational and investing backgrounds in enterprise data businesses. Definitive Healthcare will greatly benefit from their deep expertise and collaborative approach with management teams and private equity funds as it continues to scale and experience incredible growth.”
“It is apparent that 22C brings a differentiated skill set that is highly complementary to our existing investor group and management team,” said Jason Krantz. “In advance of their investment, 22C rolled up their sleeves and helped us in key areas related to technology and product development as well as made multiple strategic introductions."
Founded in 2011 by Jason Krantz, Definitive Healthcare is the leading data-as-a-service provider to the U.S. healthcare industry, helping its clients size market opportunities, support strategic decision-making and drive sales and marketing. Among Definitive Healthcare’s 2,200+ clients are some of the world’s largest pharmaceutical and medical device companies, top healthcare technology companies, cutting-edge healthcare start-ups and the most forward-thinking healthcare providers. The Company operates throughout the U.S. and is based in Framingham, MA.
“Jason has built a very unique platform in the healthcare space”, added Eric Edell, Managing Partner at 22C Capital. “The Company’s integrated and proprietary data model is the foundation for a commercial platform that provides highly actionable and must-have insights and analytics for all players in the healthcare ecosystem.”
Jeff Haywood, Managing Director at Spectrum, added, “Since partnering with Jason and the Company in 2015, we’ve seen firsthand the Company’s tremendous growth, commitment to customer success and market leadership. We look forward to working with the teams at Advent and 22C in this next growth phase for the Company.”