Santa Rosa's AdverseEvents raised $2 million from institutional investors in its first major round of funding, the health care information company announced Wednesday.
London-based life science research company Evaluate Ltd. led the financing round.
The 4-year-old company had received a small amount of seed financing several years ago, CEO Brian Overstreet said. The new infusion of capital will "really kick the company's growth into hyperdrive," he said.
AdverseEvents, which formerly was located in Healdsburg, collects and analyzes roughly 1 million "adverse events" from drug side effects that are reported each year to the U.S. Food and Drug Administration. Its main customers are health insurance companies and hospitals.
The new financing will be used primarily to expand the company's team of analysts and its sales force. AdverseEvents currently has 12 employees.