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Healthcare Software Company Raises $5.5M

Enclarity Inc., an Aliso Viejo-based company that makes software used by healthcare payers, said Tuesday that it’s received $5.5 million of third-round venture capital funding.

Bain Capital Partners, the venture arm of Boston-based Bain Capital LLC, and Seattle-based Ignition Partners, two existing Enclarity investors, provided the money.

The investment brings Enclarity’s total raised to $22 million since its start in early 2005.

Enclarity said in a release that it will use the money to further its research and development efforts.

Enclarity’s software is designed to save healthcare payers money by cutting back on incorrect or outdated information about doctors.

Customers include health plans and third-party administrators that process claims for companies that run their insurance plans.

Enclarity founder and Chief Executive Sean Downs, a former vice president at Fair Isaac Corp., has used his connections and experience to tap into venture capital funding.

In an interview last year, Downs mentioned that Enclarity hadn’t had to worry about money, “which is a lot of what entrepreneurs struggle with.”

Downs was honored last year at the Business Journal’s Excellence in Entrepreneurship awards.

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