Blue Heron Capital Makes First Fund II Investment in Next-Generation Patient Matching Technology Company

RICHMOND, Va.–(BUSINESS WIRE)–Blue Heron Capital, a Richmond, Virginia-based growth equity fund,
announced today its participation in a $10 million Series C financing
round in Verato, Inc. (“Verato” or the “Company”) alongside existing
investors, Bessemer Venture Partners and Columbia Capital.

Headquartered in McLean, Virginia, Verato is a leading provider of
cloud-based patient matching and master patient index (MPI) solutions.
The Company’s products are powered by Referential Matching, a novel
approach to identity matching that is more accurate than conventional
matching approaches.

“We are excited about Blue Heron’s participation in Verato’s continued
growth,” said Mark LaRow, CEO of Verato. “Over the past six months, we
have developed a strong relationship with the Blue Heron team, and we
believe their operating partner network will benefit the Company as we
continue to provide the market with leading solutions to improve
identity resolution.”

In the healthcare industry, patient matching has historically been
served by legacy MPI solutions that have grown stagnant in their
innovation. These solutions are costly to implement and maintain and
they can’t offer the same benefits of Verato’s cloud-based SaaS
technologies. Verato represents the next generation of MPI solutions. It
is HITRUST-certified, easy to implement, cost-effective, and uses the
new gold standard in matching technology, Referential Matching.

“Verato represents an attractive opportunity for Blue Heron,” said Tom
Benedetti, Blue Heron Co-Founder and Managing Partner. “We believe our
network will bring additional healthcare operating expertise to help the
Company continue its impressive growth. We are excited to partner with
Mark and the rest of the Verato team.”

Blue Heron operating advisor, Todd Stottlemyer, will join the Verato
Board of Directors.

About Verato

Verato offers a cloud-based matching platform that links and matches
identities across disparate sources with the highest accuracy rates in
the industry. Verato leverages an extensive self-learning database of
U.S. identities as a reference, or universal answer key. And because it
is cloud-based, the Verato platform is less expensive, faster to
implement, and more scalable than traditional matching technology.

About Blue Heron Capital

Blue Heron Capital is an operationally-focused private equity firm
investing in healthcare and technology-enabled business service
companies. Blue Heron supports portfolio companies with a team of
industry experts, including C-level executives and successful
entrepreneurs with decades of experience building and managing vibrant


Tom Benedetti
Blue Heron Capital