Richmond-based private equity fund Blue Heron Capital has made an investment in a Nashville, Tenn.-based health care data analytics company.
Blue Heron said Wednesday it participated in a $26 million investment round in Stratasan LLC.
Stratasan is a provider of data analytics software that helps hospitals and health systems do strategic planning and evaluate growth opportunities by aggregating and curating data from numerous sources such as All-Payer Claims databases and the Centers for Medicare & Medicaid Services.
Other investors in the round included Fulcrum Equity Partners, Frist Cressey Ventures, and company managers.
As part of the round, Blue Heron operating adviser Jim Riley will join the Stratasan board of directors.
Founded in 2012, Blue Heron focuses its investments on companies in health care, technology and tech-enabled business service companies.
This is the third investment announced by Blue Heron in 2019 from its Fund II. The firm opened a $75 million capital raise for that fund in October, according to documents it filed with the U.S. Securities and Exchange Commission.
In June, Blue Heron participated in a $15 million financing round for ChartSpan Medical Technologies Inc., a Greenville, S.C.-based company that provides services for chronic care management programs in health care.
In January, the company participated in a $10 million financing round for McLean-based Verato Inc., which provides next-generation patient matching technology.