Data analytics firm Trinity Pharma Solutions raised $15 million in a funding round led by New York-based growth equity company Health Enterprise Partners (HEP). The fresh capital will be used for the company's expansion and product development, according to VentureBeat.

With its first institutional funding, the Massachusetts-based company will build new headquarters in Califonia and New Jersey. The new funding will also allow the company to conduct more sales and marketing activities. Moreover, the firm will continue developing its mobile data analytics product called AgileM, the report detailed.

HEP general partner David Tamburri said in a statement: "The rapid change in healthcare requires real-time analytics to provide value beyond counting pills and with the potential to improve patient outcomes. With a seasoned management team, led by co-founder and CEO Zackary King, we see tremendous opportunity to accelerate Trinity's growth in support of demand for its cloud-based software."

Trinity Pharma is a company that makes analytics, cloud-based data, and mobile products that can handle the information generated by various life scientists worldwide. Founded in 2004, the firm is presently based in Waltham, Massachusetts, VentureBeat reported.