CIT GAP Funds Invests in MetiStream to Improve Patient Outcomes by Addressing Healthcare Industry’s Unstructured Data Problems

Herndon, VA, March 24, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Vienna, Va.-based MetiStream, developer of a platform that uses big data, Natural Language Processing (NLP) and machine learning to reveal hidden insights in unstructured clinical data. MetiStream’s Ember Platform delivers better analytics to decrease health risks, and improve quality and outcomes for healthcare organizations. MetiStream will leverage the GAP Funds investment to help expand and accelerate sales, marketing and product development efforts.

Over 80% of healthcare data is unstructured. Improving outcomes requires analysis of patient and population details such as diagnosis, treatment, history and behavioral data that are often only found in the electronic health record (EHR) systems in the form of unstructured clinical notes and text. Health and Life Sciences organizations are forced to manually read and search for patient information, leading to gaps in care, higher costs and missed reimbursement dollars.

“Metistream’s Ember NLP and AI platform is able to contextualize and curate the clinical notes information for faster, deeper and more accurate analytics that can be used by practitioners, nurses, researchers and analysts. Our interactive search interface also allows users to quickly find clinical evidence within seconds versus hours or days. We appreciate CIT GAP Fund’s support, and look forward to expanding our products and services,” said Chiny Driscoll, CEO of MetiStream.

MetiStream solves the problems surrounding the inefficiencies and complexities of abstracting healthcare insights from the high value data captured within the clinical documentation.  MetiStream’s HIPAA compliant SaaS-based platform is transforming healthcare by tackling the unstructured data problem to drive better analytics.

“MetiStream’s mission to accelerate and simplify how clinical insights are delivered is solving a large market need for improved patient care and outcomes,” said Tom Weithman, Managing Director of CIT GAP Funds. “CIT is confident that the company’s established customer success team, combined with Ember’s strong data integration capabilities to onboard a variety of healthcare datasets from clinical to genomics with limited coding required, will be a recipe for success.”

About MetiStream
MetiStream specializes in addressing the challenging unstructured data problem in the healthcare industry. MetiStream’s mission is to help organizations access and gain value from all of their data assets to develop a deeper understanding of the patient population, improve quality and proactively impact patient outcomes. MetiStream’s  SaaS-enabled Ember solution is an interactive healthcare analytics product delivering an end-to-end solution at the intersection of NLP and predictive analytics. Located in the Washington DC area, MetiStream is led by industry experts with backgrounds from top technology companies. For more information, please visit www.metistream.com.

About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel has convened leading regional entrepreneurs, angel and strategic investors, and national venture capital firms in the interests of Virginia’s entrepreneurs. Membership has included New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org.

About the Center for Innovative Technology (CIT)
Investing in Virginia's Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia. Founded in 1985, CIT accelerates next generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement. CIT’s CAGE Code is 1UP71. Contact: 2214 Rock Hill Road #600, Herndon, VA 20170 | 703.689.3000 | www.cit.org | You can also follow CIT on Twitter, LinkedIn and Facebook.