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Cornerstone, a software company automating the cleaning of health care data, raised a $5 million seed, CEO Viraj Narayanan tells Axios exclusively. 

Why it matters: Data management challenges are hindering pharmaceutical research and development. 

Zoom in: The round was led by Acrew Capital, along with participation from insiders Initiate Ventures and Healthy Ventures.

Individual investors include Travis May, former CEO of Datavant and Web Sun and Arif Nathoo, the co-founders of Komodo Health.

How it works: The company sells to pharma and data companies in the life sciences space. Its software deals with EHR, registry, digital health, claims, clinical trial and sensor data — datasets often riddled with errors or inconsistencies. 

Its software learns the structure and relationships for any given dataset, and creates models for every data point leveraging what was learned. 

It uses the models to identify corrections for inconsistent data points, intelligently fills in missing data.

Then it exports the clean data with a complete audit trail.

What's next: The funding has a minimum of 24 months of runway, as the company focuses on onboarding more customers, Narayanan says.

He added that he would start the fundraising process again in roughly 12-18 months.

"We have a deep customer pipeline consisting of leading biopharma companies," he says.

The bottom line: "Pharma has this problem pretty pervasively and they've got a willingness to spend to address it," he says. 

Exclusive: Cornerstone collects $5M for data cleaning

Data management challenges are hindering pharmaceutical R&D.

Illustration of binary code falling into a prescription pill bottle.

Health tech deals

Cornerstone, a software company automating the cleaning of health care data, raised a $5 million seed, CEO Viraj Narayanan tells Axios exclusively. Why it matters: Data management <a class="gtmContentClick" data-vars-link-text="challenges are hindering " data-vars-click-url="https://www.ontoforce.com/blog/top-three-data-management-challenges-impacting-pharma-rd#:~:text=Data%20security%20and%20compliance,and%20handling%20of%20such%20data." data-vars-content-id="a5cf1bb3-d899-4a28-bbf3-2b5508047450" data-vars-headline="Exclusive: Cornerstone collects $5M for data cleaning" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ontoforce.com/blog/top-three-data-management-challenges-impacting-pharma-rd#:~:text=Data%20security%20and%20compliance,and%20handling%20of%20such%20data." target="_blank">challenges are hindering </a>pharmaceutical research and development.

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Exclusive: Cornerstone collects $5M for data cleaning

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