VEDA Data Solutions
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Veda Data Solutions (Veda) was a Madison, Wisconsin-based AI company founded in 2015 by CEO Meghan Gaffney Buck and CTO Bob Lindner, an astrophysicist. Its platform automated healthcare data processes — transforming, validating and ingesting provider rosters rapidly, reducing provider-directory update turnaround from weeks to 24 hours. Inaccurate provider directories are a pervasive industry problem costing insurers an estimated $3 billion; Veda's tools were relied on by organizations serving 93 million people.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Veda Data Solutions was founded in Madison, Wisconsin by Meghan Gaffney Buck and Bob Lindner after the pair won a hackathon focused on correcting errors in provider directories.
- Funding
Veda raised two $1 million seed rounds, a $5 million Series A led by Empactful Capital, and a $45 million Series B led by Oak HC/FT, bringing total venture funding to about $52 million.
- Acquired by H1
Healthcare tech company H1 acquired Veda Data Solutions to build out its provider data and automation solutions for health plans, combining it with the recent Ribbon Health acquisition toward an end-to-end provider data platform. Financial terms were not disclosed.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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