Protenus’ $17 million Series C financing Round

DLA Piper represented Protenus, a Baltimore-based healthcare compliance analytics company, in its US$17 million Series C financing.

The funding round was led by LTP, with participation from Kaiser Permanente Ventures, F-Prime Capital, Arthur Ventures, Lionbird and Providence Ventures. The investment will allow Protenus to keep up with growing customer demand and continue partnering with health systems that aim to take a more innovative approach to maintain compliance.

Founded in 2014, Protenus helps health systems leverage healthcare compliance analytics to demonstrate 100 percent compliance and proactively identify risk across the organization, such as inappropriate access to patient data and the theft and misuse of controlled substances by hospital staff.

The DLA Piper team representing Protenus was led by partner Matthew Gorra (Picture) and associate Matt Huddle (both of Baltimore) and included partners Cathryn Le Regulski (Northern Virginia) and Julia Kovacs (Washington, DC); of counsel Ryan Compton (Washington, DC); and associate Nicole Kreisheh (Baltimore).

Involved fees earner: Ryan Compton – DLA Piper; Matthew Gorra – DLA Piper; Matt Huddle – DLA Piper; Julia Kovacs – DLA Piper; Nicole Kreisheh – DLA Piper; Cathryn Le Regulski – DLA Piper;

Law Firms: DLA Piper;

Clients: Protenus Inc;

Author: Ambrogio Visconti