Healthline Networks raises $14 Million
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Healthline Networks raises $14 Million

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San Francisco: Healthline Networks, a provider of intelligent health information services, has raised $14 million in a third round of financing led by Investor Growth Capital (IGC). The round also includes the strategic financing from GE/NBC Universal's Peacock Equity Fund, a joint venture between GE Capital's Media, Communications & Entertainment business and NBC Universal and Reed Elsevier Ventures.

Healthline will use proceeds from the third round to expand research and development, engineering, sales and network services to meet the growing demand from a broad spectrum of consumer-focused media and healthcare businesses looking to improve the way consumers find, understand and manage health-related information. The company will also work to expand its advertising platform and services. "We doubled the business and achieved profitability last year, reaching almost 100M consumers a month across our network. This latest financing, led by IGC with continued support from existing investors, will accelerate Healthline's growth and scalability, and allow us invest more heavily in our innovative technology solutions that transform the way consumers interact with health information," said West Shell III, Chairman and Chief Executive Officer of Healthline. Also, Niraj Katwala is the Chief Technology Officer of the company.

Since its launch in late 2005, Healthline Networks has built a consumer-health destination Web site, which is a Top 10 health information site, as measured by comScore MediaMetrix. Healthline has also developed proprietary medical search technology and a health advertising platform. Additionally, Healthline has entered into over 40 technology, content and advertising network partnerships with publishers, health plans and online media companies including AARP, ABCNews.com, Aetna, AOL, Elsevier, GE, Health.com, Ingenix, iVillage, Medhelp, United Health Group, U.S. News and World Report and Yahoo among others.

"Consumers have become increasingly engaged in their own healthcare, and smart organizations are looking to capitalize on this trend," said Phil Dur, Managing Director, IGC, who has also joined Healthline's board of directors. "IGC's investment in Healthline, given its innovative search and advertising technology, is consistent with our track record of partnering with industry-leading companies. We're looking forward to assisting Healthline with its efforts to continue to provide products that not only help consumers, but media and healthcare partners as well."

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1: Hi
Posted by:DarshanManju - 03 May, 2010
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