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Clarify Health

also invests · investor profileUnicorn · $1.4B

San Francisco, US · Founded 2015 · 124 employees on LinkedIn · 18 known investors

Find your way into Clarify Health

312 people in our graph share verified history with the Clarify Health team — schools, employers, funds. One of them is your warm intro.

Scott Jacobsonunlockedknows Jean Drouin · together at Stanford University Graduate School of Business (overlapped)
×8knows the team · via Stanford University Graduate School of Business
×3knows the team · via Stanford University School of Medicine

Clarify Health is a healthcare outcomes and analytics company that partners with health systems to align clinical, access, and financial performance across referrals, network economics, and payer contracts. It works with over 60 health systems, using patient journey and price transparency data to inform decisions on referrals, contracts, and service lines.

Also known as Clarify · Clarify Health Solutions

Founders & leadership

Clarify Health was founded in 2015 by Jean Drouin and Todd Gottula.

JDJean Drouin
Jean DrouininCo-founderJean Drouin founded and led Clarify Health, an analytics and value-based payment technology company serving health systems and insurers, after spending over a decade as a Senior Partner at McKinsey leading healthcare digital strategy and founding McKinsey Advanced Healthcare Analytics.
TGTodd Gottula
Todd GottulainCEO & Co-FounderTodd Gottula is the CEO and co-founder of Clarify Health, which provides healthcare analytics and outcomes software to health systems. He previously served as Executive Vice President and Chief Technology Officer at Advent Software, where he led the company through its $2.7 billion acquisition by SS&C Technologies, and holds a BS in chemical engineering from Caltech.

Investors · 18

Also in the syndicate · 8

Aspenwood VenturesJeremy StoppelmanJohnny KimleadKKRMemorial Hermann Health SystemRivas CapitalSigmas GroupSoftBank Vision Fund 2lead

Reported raises · per SEC filings

Form D private placements

$372.7M disclosed across 8 of 12 rounds · 2016–2022

$165.6MraisedApr 2022 · 20 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Todd GottulaExecutive Officer, Director
  • Jean DrouinExecutive Officer, Director
  • Ali SatvatDirector
  • Will ReedDirector
  • Blair ChristieDirector
  • Johnny KimDirector
  • Hilary GosherDirector
  • David GrayceDirector
Offering amount
$165.6M
Amount sold
$165.6M
First sale
Apr 2022
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$97.5MraisedMar 2021 · 14 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Jean DrouinExecutive Officer, Director
  • Todd GottulaExecutive Officer, Director
  • David GrayceDirector
  • Ali SatvatDirector
  • Johnny KimDirector
Offering amount
$97.5M
Amount sold
$97.5M
First sale
Feb 2021
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$13.2MraisedApr 2020 · 3 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Todd GottulaExecutive Officer, Director
  • Johnny KimDirector
  • Jean DrouinExecutive Officer, Director
  • David GrayceDirector
  • Ali SatvatDirector
Offering amount
$39.7M
Amount sold
$13.2M
First sale
Apr 2020
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$45MraisedNov 2019 · 82 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Ali SatvatDirector
  • John CochranDirector
  • Todd GottulaExecutive Officer, Director
  • Jean DrouinExecutive Officer, Director
  • Johnny KimDirector
Offering amount
$45M
Amount sold
$45M
First sale
Apr 2019
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$37.3MraisedSep 2018 · 64 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Todd GottulaExecutive Officer, Director
  • Ali SatvatDirector
  • Johnny KimDirector
  • Jean DrouinExecutive Officer, Director
  • John CochranDirector
Offering amount
$57.3M
Amount sold
$37.3M
First sale
Sep 2018
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$5.4MraisedDec 2017 · 22 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Jean DrouinExecutive Officer, Director
  • Todd GottulaExecutive Officer, Director
  • John H. CochranDirector
Offering amount
$8M
Amount sold
$5.4M
First sale
Dec 2017
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$3.7MraisedMay 2017 · 31 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • John H. CochranDirector
  • Todd GottulaExecutive Officer, Director
  • Jean DrouinExecutive Officer, Director
Offering amount
$5M
Amount sold
$3.7M
First sale
May 2017
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$4.9MraisedOct 2016 · 46 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Jean DrouinExecutive Officer, Director
  • Todd GottulaExecutive Officer, Director
Offering amount
$6M
Amount sold
$4.9M
First sale
May 2016
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Valuation · disclosed

Disclosed events
$1.4Bvaluation at Series DApr 2022
filing ↗

Source: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.

Company profile

researched Aug 2026

Clarify Health (legally Clarify Health Solutions) is a San Francisco-based healthcare analytics and value-based payments software company founded in 2015. Its current flagship offering, Clarify Meridian, is positioned for U.S. health systems and combines referral intelligence, quality insights, physician and patient engagement, and outcomes attribution in one platform, with the aim of identifying where referrals leave a network and quantifying the financial and clinical impact of recapturing them. The company states that 30-50% of specialty referrals are never completed and that 40-60% of referrals leave the network at large systems, representing what it describes as a $65-100 million annual opportunity and 60,000+ cases leaving the network per health system per year.

Meridian is built on the Clarify Atlas Platform, a data foundation the company describes as decade-built, comprising longitudinal records covering 300 million-plus patient lives across primary, specialty, post-acute and behavioral health settings, 5.6 trillion negotiated price transparency rates, 70+ fee-for-service and value-based payment models, and more than 20 billion machine-learning predictions used for quality prediction, cost estimation and care pathway recommendations. Earlier coverage describes a broader enterprise analytics cloud serving providers, health plans and life sciences companies, uniting government and commercial claims, EHR, prescription and socioeconomic data, and applying automated machine-learning model generation and benchmarking that the company says produces insights 30 times faster than traditional methods.

The company also markets modular products and services documented on its site, including Rates IQ, Growth IQ and Performance IQ suites, Practice IQ, Clarify Insights Service offerings (opportunity analysis, performance analytics, markets and referrals analytics), and CMS TEAM-related tooling.

Founding story

Founded in 2015 in San Francisco by Jean Drouin, M.D., Todd Gottula and Josh Loehrer. Gottula has said the founders started the company so healthcare organizations and patients could benefit from the "big data efficiencies of the banking and consumer industries," building what they called healthcare's system of intelligence; the concept centered on resolving the perceived tradeoff between financial sustainability and mission-driven patient care.

Business model

Enterprise B2B software and services sold to health systems, with historical sales also to payers and life sciences companies. Clarify describes delivering Meridian as a "tech-enabled outcomes partnership" in which it deploys the platform alongside dedicated Success Services teams embedded in health system operations.

Contracted software/analytics engagements with economics stated to be tied to measurable customer results (paid when the health system achieves outcomes), per the company's description of its partnership model.

Traction

Company-stated metrics include 60+ health system partners, $3.2 billion in documented customer ROI (an earlier third-party profile cited $2.6 billion), 300M+ patient lives and 20B+ AI predictions. In 2021 the company reported over 100% revenue growth and 75 large healthcare organizations as customers. Published case studies include Hoag Orthopedic Institute physician performance work and a referral-insights engagement described as producing $14M in revenue growth; NEJM Catalyst is cited as validating Practice IQ.

Latest developments

Clarify announced the acquisition of Loyal Health to create what it calls healthcare's first closed-loop network intelligence and patient activation platform, and named co-founder Todd Gottula CEO alongside a new leadership team (COO Eliza Adams, CRO Walker Hale, CCO John Barzydlo, CFO Christine Gu, CTO Justin Warner, Head of Product & Analytics Elisa Radice, CMO Dr. Sabrina Poon, Chief AI & Privacy Officer Erik Talvola, Head of Legal Ian Wood, Head of People and Culture Betty Rodriguez). A February 2026 Becker's Hospital Review article by CMO Sabrina Poon promotes Meridian as a tech-enabled outcomes solution for payment-contract optimization.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Positioned in healthcare analytics and value-based care enablement. The company says it partners with 60+ health systems and covers 900 million annual referrals and $1 trillion in downstream spending; in 2022 it reported serving 75 of healthcare's largest organizations. Third-party recognition cited includes Best in KLAS 2024 for Data Analytics Platforms for Payers, G2 rankings in healthcare analytics, 2024 MedTech Breakthrough Awards, Newsweek-style "World's Best Digital Health Companies 2024" listing, Digital Health New York 100 (fourth consecutive year), Black Book top 50 emerging healthcare IT vendors, and CB Insights Digital Health 150.

Claims to be the first platform to unify referral intelligence, physician activation, consumer engagement and outcomes attribution; emphasizes granular actual negotiated rate data rather than blended estimates, episode-level quality across major payer contracts, modular "stackable" analytics, and an outcomes-based commercial model in which its economics depend on customer results.

Technology

The Clarify Atlas Platform is a cloud data and analytics foundation linking longitudinal patient records (300M+ lives) from government and commercial claims, EHRs, prescriptions and socioeconomic data, plus 5.6 trillion payer-provider negotiated rates and 70+ payment models. Machine learning trained on a decade of outcome and cost data generates 20B+ predictions; the company cites patented automation for machine-learning model generation and performance benchmarking, and describes "Moneyball-style" analytic methods for assessing hospital and clinician performance.

Go-to-market

Direct enterprise sales via requested briefings and opportunity analyses that quantify a prospect's referral-leakage value, supported by content marketing (case studies, solution overviews, white papers, webinars), industry awards and rankings, conference presence (e.g., AAPL 2026 Annual Conference), and partner-linked material such as a joint Premier Inc. price transparency webinar.

U.S. health systems and hospitals, including service line leaders, physician liaisons and contract negotiators; historically also health plans/payers, physician groups, ambulatory surgical centers and life sciences companies.

Geography

Headquartered in San Francisco, California; data assets and customer base span the United States.

History

Launched in 2015, Clarify raised a $6M seed (2016), $57M Series B (2018), a Series C in March 2021 (reported at $115M by Fierce Healthcare and $120M by another aggregator) led by Insight Partners with Spark Capital, and a $150M Series D in April 2022 led by SoftBank Vision Fund 2 at a reported $1.4B valuation. It expanded by acquisition, buying Apervita's value optimization business in August 2021 and Embedded Healthcare in early 2022. A leadership transition in late 2023 saw Terry Boch become CEO; the company subsequently named co-founder Todd Gottula CEO and unveiled a new leadership team. Most recently it announced the acquisition of Loyal Health and repositioned around the Clarify Meridian platform.

Risks & controversies

No controversies are documented in the available sources. Most performance and ROI figures (customer ROI, opportunity size, referral leakage rates, patient lives, prediction counts) are self-reported by the company and unverified; some third-party data conflicts (total funding reported as over $350M versus $333.0M; Series C reported as $115M versus $120M; investor lists differ materially between sources), and the leadership record shows repeated CEO changes between 2023 and the present.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
AI predictionsJan 202620,000,000,000 predictions
Annual opportunity per large health systemJan 2026$65-100 million
Annual referrals coveredJan 2026900,000,000 referrals
Cases leaving the network per health system annuallyJan 202660,000 cases
Documented customer ROIJan 2026$3.2B
Downstream spending coveredJan 2026$1T
Employee countJan 2025201-500
Health system partnersJan 202660 health systems
Institutional investorsJan 202515 investors
Large healthcare organizations servedApr 202275 organizations
Patient lives / journeys in Atlas PlatformJan 2026300,000,000 patient lives
Payment models supportedJan 202670 payment models
Price transparency rates in Atlas PlatformJan 20265,600,000,000,000 negotiated rates
Referrals leaving the network at large health systemsJan 202640-60% of referrals leave the network
Revenue growthJan 2021over 100% revenue growth in 2021
Specialty referrals never completedJan 202630-50%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Founder mafia

2 people who came through Clarify Health went on to found or lead other companies.

Timeline · 13

launches, deals, and filings
Jan 2026
Clarify Health acquires Loyal Health

Announced acquisition positioned as creating a closed-loop network intelligence and patient activation platform.

source ↗

Jan 2026
Clarify Meridian platform

Platform unifying referral intelligence, quality insights, physician activation, consumer engagement and outcomes attribution for health systems, delivered as a tech-enabled outcomes partnership with embedded Success Services teams.

source ↗

Jan 2025
G2 names Clarify Atlas Platform #1 vendor in Relationship Index in Healthcare Analytics

Also recognized by G2 as a High Performer in Healthcare Analytics Software.

source ↗

Jan 2025
Co-founder Todd Gottula named CEO; new leadership team unveiled

Press release announcing Gottula as CEO; the About page lists a leadership team including COO Eliza Adams, CRO Walker Hale, CCO John Barzydlo, CFO Christine Gu, CTO Justin Warner, CMO Sabrina Poon and Chief AI & Privacy Officer Erik Talvola.

source ↗

Jan 2024
Best in KLAS 2024 for Data Analytics Platforms for Payers

Listed among company recognitions, alongside 2024 MedTech Breakthrough Awards and "World's Best Digital Health Companies 2024".

source ↗

Jan 2024
Digital Health New York 100 list, fourth consecutive year

source ↗

Jan 2023
Terry Boch appointed CEO

Following a leadership transition in late 2023, Terry Boch assumed the CEO role.

source ↗

Apr 2022
$150M Series D led by SoftBank Vision Fund 2 at $1.4B valuation

Round joined by BlackRock-managed funds, Memorial Hermann Health System and existing investors Insight Partners, Spark Capital, KKR, Aspenwood Ventures, Rivas Capital and Sigmas Group; funds earmarked for clinical informatics and value-based payments technology.

$150M source ↗

Jan 2022
Acquired Embedded Healthcare

Acquisition of a behavioral-science company providing data and incentives to clinicians to support value-based contracting and drive physician behavior change.

source ↗

Aug 2021
Acquired Apervita's value optimization business

Deal added end-to-end value-based contract design, payments reconciliation, clinical performance assessment and reporting to Clarify's analytics platform.

source ↗

Mar 2021
$115M Series C led by Insight Partners

Round to scale the self-service healthcare analytics cloud and business software; Spark Capital also participated. An aggregator lists the round at $120M.

$115M source ↗

Sep 2018
$57M Series B

$57M source ↗

Jun 2016
$6M seed round

Seed round listed by Startup Intros, with Jeremy Stoppelman among investors.

$6M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Clarify Health do?
Healthcare analytics company whose Clarify Meridian platform helps U.S. health systems reduce referral leakage and improve outcomes.
Who founded Clarify Health?
Clarify Health was founded by Jean Drouin, Todd Gottula in 2015.
Who are Clarify Health's investors?
Clarify Health's investors include Aspenwood, Corewell Health Ventures, InHealth Ventures, SoftBank Vision Fund, BlackRock, Clarify Health Holdings, Concord Health Partners, Hummer Winblad Venture Partners and 2 more.
How much funding has Clarify Health raised?
Clarify Health has disclosed $372.7M raised across 8 of its 12 known rounds.
Where is Clarify Health headquartered?
Clarify Health is headquartered in San Francisco, US.