H1 completed an institutional Series A funding of $12.9 million led by Menlo Ventures
Fremont, CA: H1, a data-driven solutions provider for the healthcare industry, closes its first institutional funding round. The Series A round raised $12.9 million. It was led by Menlo Ventures, and joined by Novartis dRx, Y Combinator, Baron Davis Enterprises, ClearPoint Investment partners, Jeff Hammerbacher, Liquid 2 ventures, and Underscore VC. Greg Yap, Partner at Menlo Ventures, will be one of the H1's board of directors.
The company plans to use the additional capital to grow its existing team, from sales to engineering, as well as to fuel extension of the products into different market segments.
H1 is the largest data platform that interlinks healthcare and life science professionals and companies. The company's platform is the largest in the industry. It provides the most extensive in-depth profiles of more than 8 million healthcare professionals and 16,000 institutions in 70-plus countries, all of which are updated every week. H1 enables the users to understand and analyze a healthcare professional's full profile, including their interests, expertise, publications, locations, conferences and congresses, and clinical trials, along with leveraging AI to identify the thought-leading doctors in a given disease area.
Medical affairs and marketing professionals at the top pharmaceutical, biotech, medical device, and healthcare organizations across the globe use H1's intuitive interface to recognize and connect with the healthcare professionals who have the most relevance to the products they are launching.
"Pharmaceuticals are a multi-billion-dollar market, and connecting with the right healthcare professionals can make or break a new drug. Until H1, there hasn't been an easy and accurate way to identify and reach the right healthcare professionals," said H1 co-founder and CEO Ariel Katz. "We're proud that pharma and biotech companies around the world are using our AI-driven platform to accelerate market adoption of their products, and we're excited to welcome such a strong group of investors, led by Menlo Ventures, as we begin our next chapter of growth."
Since its inception in 2017, H1 has seen enormous growth and expansion of its global healthcare analytics platforms. The revenue growth is up by 350 percent in 2019 when compared to 2018. The company lists more than 35 pharmaceutical companies as its clients, including seven companies that are from the top 10.
"H1 has built a powerful and data-rich SaaS platform for pharma and life science companies to inform and manage interactions with healthcare professionals," said Greg Yap, partner at Menlo Ventures. "Based on early traction with and great feedback from leading customers, we view H1 as an emerging leader in a new generation of healthcare data companies that will help improve outcomes and reduce costs."