HealthEdge Software Inc. raised $3.5 million from eight un-named investors, according to a regulatory filing.
The Burlington-based firm, which makes software for healthcare payors, has raised $7 million since last year in a pair of offerings, according to filings with the Securities & Exchange Commission.
HealthEdge pulled in $3.5 million last July in an equity offering, according to a filing. The latest funding round is an offering of debt, warrants and options. In April 2008, the company announced a $13 million commitment from Psilos Group, a venture capital/private equity player based in New York.
HealthEdge’s main offering, called HealthRules, is a suite of software products that provide claims and benefit administration, business intelligence and portal solutions, according to the company’s website. It’s based on technology acquired from DeNovis Inc. of Lexington, Mass., which went bust in 2004 after burning through $125 million in VC backing. According to the HealthEdge website, it paid more than $100 million to acquire the DeNovis technology.
