The round was co-led by GE Ventures and Drive Capital.

Aver Informatics, a Wisconsin-based health care data management platform, has closed its series A. The round was co-led by venture capital firm Drive Capital, which is backed by $50m from Ohio State University, and the GE Ventures fund, managed by General Electric and targeting health startups.

Founded in 2010, Aver counts the University of Pittsburgh Medical Centre and Molina Healthcare of California among its customers. The company will use the new funding to accelerate growth and expand its engineering and sales teams from a current 10 to 26.

The series A follows two angel rounds totalling $2.5m, which included Wisconsin Investment Partners, Oshkosh, Angels on the Water, ZyQuest, Tom Shannon, Al Zeise and Jeff Harris.

Aver has created data management software that simplifies the health care reimbursement process, an increasingly crucial part of the US health care reform. The industry is increasingly shifting away from the traditional fee-for-service model, where GPs and hospitals are reimbursed for individual services, to a more cost-effective system in which Medicare and other payers will bundle payments across longer episodes of care. Aver’s software translates those rules for reimbursement and turns the results into actionable and advanced intelligence and analysis on top of claims data.

Kurt Brenkus, founder and CEO of Aver Informatics, said: “Today is a pivotal moment for us that will help transform the health care reimbursement process, providing higher quality care to patients at a substantially lower cost to payers.”