LEHI, Utah, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Xevant, a leading provider of healthcare analytics and technology solutions, is pleased to announce a significant milestone in its growth journey, led by a large follow-on investment from key investors HCAP Partners and Tech Council Ventures.
HCAP Partners and Tech Council Ventures, both early-stage investors in Xevant’s success, have now reaffirmed their confidence in Xevant, standing firmly behind the company's mission, compelling story, and impressive growth trajectory.
Xevant's Chief Financial Officer, Pete Tantillo, expressed enthusiasm about the continued support, stating, "We are thrilled to have HCAP Partners and Tech Council Ventures, two of our largest investors, confidently make such a large commitment to further the next phase of our growth. This renewed commitment is a testament to the strength of our partnerships and the alignment of our goals."
Senior Partner Frank Mora shared his perspective, saying, "At HCAP Partners, we recognize the transformative potential of Xevant in the healthcare sector. The company's customer-centric approach and commitment to innovation align with our investment philosophy. We are excited to continue to support Xevant as they scale and significantly impact healthcare analytics."
Jim Gunton, Managing Partner & Founder at Tech Council Ventures, expressed his optimism, stating, "We believe in fostering innovation and supporting companies that drive positive change. Xevant's dedication to pushing the boundaries of technology in healthcare aligns with our vision. We look forward to witnessing Xevant's continued success in delivering groundbreaking solutions to the healthcare industry."
HCAP Partners is a diversely owned private equity firm specializing in providing mezzanine debt and private equity for lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and through ongoing, active engagement with portfolio companies provides value-added resources to help optimize performance and increase enterprise value.
Tech Council Ventures invests in Seed, Series A, and Series B financings across all industries. With $130 million under management, TCV invests $500K to $2.5M into the most promising growth companies in the sector.
About Xevant:
Xevant’s revolutionary pharmacy benefits platform infuses real-time automation and alerts throughout the data analysis process, accelerating and simplifying the painstaking task of report building for PBMs, TPAs, Health Plans, Brokers, and Consultants. With Xevant, critical pharmacy analysis that took weeks, months, or more can now be done instantly. The results are optimized business processes, reduced operating costs, and improved patient outcomes. Xevant is recognized as the 19th fastest-growing company on Mountain West Capital Network’s Utah 100 list and the recipient of the Pharmacy Benefit Management Institute’s (PBMI) 2023 Excellence Award for cost containment.
