ikaSystems
About ikaSystems
ikaSystems is a company based in Southborough (United States) founded in 1999 was acquired by Blue Cross Blue Shield of Michigan in November 2015.. ikaSystems has raised $152.49 million across 4 funding rounds from investors including Providence Equity, EW Healthcare Partners and Blue Cross Blue Shield of Michigan. The company has 240 employees as of December 31, 2016. ikaSystems operates in a competitive market with competitors including Perfios, Optum, HMS, ABI Health and Cotiviti, among others.
- Headquarter Southborough, United States
- Employees 240 as on 31 Dec, 2016
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Ikasystems Corporation
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$152.49 M (USD)
in 4 rounds
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Latest Funding Round
$15 M (USD), Series C
Jan 10, 2014
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Investors
Providence Equity
& 2 more
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Employee Count
240
as on Dec 31, 2016
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Acquired by
Blue Cross Blue Shield of Michigan
(Nov 19, 2015)
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Funding Insights of ikaSystems
ikaSystems has successfully raised a total of $152.49M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $15 million completed in January 2014. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series C — $15.0M
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First Round
First Round
(18 May 2007)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2014 | Amount | Series C - ikaSystems | Valuation |
investors |
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| Nov, 2012 | Amount | Series B - ikaSystems | Valuation |
investors |
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| Jan, 2010 | Amount | Private Equity Round - ikaSystems | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in ikaSystems
ikaSystems has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Providence Equity, EW Healthcare Partners and Blue Cross Blue Shield of Michigan. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity investments in media, communications, education, and technology sectors.
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Founded Year | Domain | Location | |
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Growth-stage healthcare companies are invested in by EW Healthcare Partners.
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Founded Year | Domain | Location | |
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Operates as a mutual health insurance carrier providing comprehensive coverage.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by ikaSystems
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - ikaSystems
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ikasystems Comparisons
Competitors of ikaSystems
ikaSystems operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Perfios, Optum, HMS, ABI Health and Cotiviti, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provides financial technology solutions for data analysis and verification globally.
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| domain | founded_year | HQ Location |
Optum is recognized as a leading health solution and care delivery organization.
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| domain | founded_year | HQ Location |
Suite of cost containment solutions is provided to health plans.
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| domain | founded_year | HQ Location |
AI-driven solutions for healthcare operations are provided.
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| domain | founded_year | HQ Location |
Analytics-driven payment accuracy solutions for healthcare payers are provided.
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| domain | founded_year | HQ Location |
Online claims processing is facilitated for the insurance industry.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about ikaSystems
When was ikaSystems founded?
ikaSystems was founded in 1999 and raised its 1st funding round 8 years after it was founded.
Where is ikaSystems located?
ikaSystems is headquartered in Southborough, United States. It is registered at Southborough, Massachusetts, United States.
Is ikaSystems a funded company?
ikaSystems is a funded company, having raised a total of $152.49M across 4 funding rounds to date. The company's 1st funding round was a Private Equity Round of $120M, raised on May 18, 2007.
How many employees does ikaSystems have?
As of Dec 31, 2016, the latest employee count at ikaSystems is 240.
What does ikaSystems do?
Founded in 1999 and based in Southborough, United States, ikaSystems operates in the healthcare IT sector. Web-based platforms are provided to health insurers for process automation and management. Services include a member portal for self-service administration, a provider portal handling eligibility checks, claims, authorizations, and referrals, an employer portal supporting roster management, billing, and reporting, plus an admin portal for plan staff transactions and oversight.
Who are the top competitors of ikaSystems?
ikaSystems's top competitors include Perfios, Optum and ABI Health.
Who are ikaSystems's investors?
ikaSystems has 3 investors. Key investors include Providence Equity, EW Healthcare Partners, and Blue Cross Blue Shield of Michigan.
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