ABILITY Closes a Whopping Twenty Million Dollar Round of Funding


Abilty Network

A Minneapolis-based health IT firm formerly known as VisionShare and now called ABILITY Network, has reported landing $20m in equity financing, according to SEC documents.

The company boasts “the largest, most secure web-based healthcare network in the country, which now facilitates millions of transactions each day.”

Founded in 2000, a back of the napkin sketch shows an estimated $3m in funding thus far; it looks like the company began hiring-up in March, before starting this round in April.  It appears that local VC Lemhi Ventures and MA’s Bain Capital was in on the round.

The deal marks the second largest single round in Minnesota tech since January 2010 when Cymbet’s obtained $31m.