H1 Closes $58 Million Series B Co-Led by IVP and Menlo Ventures
Second Round of Funding in 2020 will Help the Company Expand its Global Healthcare Platform to Become Single Source of Truth on Healthcare Professionals
NEW YORK, Dec. 17, 2020 /PRNewswire/ -- H1, a global platform for the healthcare ecosystem, announced today that it has closed a $58 million Series B round of funding. The round was co-led by IVP and Menlo Ventures, which led the Series A round in April 2020. Transformation Capital, Lux Capital, Lead Edge Capital, Novartis dRx and YC also participated.
H1 has enjoyed tremendous growth in 2020, surpassing projections and proving the need for its platform of doctors is stronger than ever. Following its Series A announcement in April 2020 of $12.9 million, the company has grown from approximately 100 employees globally to nearly 250 and anticipates expanding its headcount significantly over the next year, including further expansion into Europe and Asia. Led by co-founders Ariel Katz and Ian Sax, H1 counts 13 of the top 20 pharmaceutical companies as its clients, which rely on the company's large and growing platform of healthcare professionals for clinical and medical activities.
"H1 is digitally transforming the life sciences industry in truly an unprecedented way. The company's growth has been incredible with strong early momentum, catalyzed by unique international coverage and a differentiated data asset. H1 customers rave about the ease of use, quality of data and meaningful time savings. We are thrilled to help the team through its next chapter of growth and innovation," said Somesh Dash, General Partner at IVP, who is joining the H1 board of directors. IVP Partner Michael Miao, Menlo Ventures Partner JP Sanday and Lux Partner Deena Shakir are also joining as board observers.
H1 has created the largest healthcare platform to forge connections in the healthcare ecosystem. The H1 team has taken a unique approach to building the platform that combines AI, human powered engineering, third-party data sources, and government partnerships, to create the largest platform of healthcare professionals, currently spanning over 9 million healthcare professions around the globe.
Most of the largest pharmaceutical companies trust H1 as the source of truth for this information. With over 50+ customers to date and growing rapidly, H1 is slowly becoming the standard that companies think about when they want to find the right Key Opinion Leading Doctors to collaborate with for Clinical Trial Activity, Medical Activity, and Educational Activity.
"We have created a platform for the healthcare ecosystem to connect in the same way Linkedin connected professional workers in the early 2000's. There hasn't been a global platform like H1 before that has connected industry to the right doctors the way H1 does," said H1 co-founder and CEO Ariel Katz. "This next round of funding, with our excellent investment group, including Menlo who has been a great partner for us, will help us continue to become the largest healthcare professional platform and ultimately create a healthier future."
About H1
H1 connects parties within the healthcare ecosystem. Its platform empowers the life sciences industry with 9 million healthcare provider (HCP) profiles worldwide from professional, scholarly, clinical, and social sources, as well as complete global and therapeutic area coverage. H1 utilizes data science and intelligence to draw out unique insights and accelerate outcomes for medical affairs, commercial and marketing organizations. For more information on H1, please visit https://h1insights.com.
About IVP
With $7 billion of committed capital, IVP is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 400 companies with 115 IPOs. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include such notable companies as AppDynamics (CSCO), Coinbase, Compass, CrowdStrike (CRWD), Datadog (DDOG), Discord, Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp, Hims & Hers, HomeAway (AWAY), Hopin, Klarna, LegalZoom, Looker (GOOGL), Marketo (MKTO), MasterClass, Mindbody (Vista), MuleSoft (CRM), Netflix (NFLX), Personal Capital (Empower), Podium, Rubrik, Slack (WORK), Snap (SNAP), Supercell (Tencent), Tanium, TransferWise, Twitter (TWTR), UiPath, Yext (YEXT), ZenDesk (ZEN), ZipRecruiter, and Zynga (ZNGA). For more information, visit https://www.ivp.com/or follow IVP on Twitter: @ivp.
About Menlo Ventures
Menlo Ventures is a venture capital firm that strives to have a positive impact on everything we do. That's why we support businesses including Carta, Chime, Harness, Poshmark, Pillpack, Roku, Rover, Uber and Warby Parker that are reimagining life and work for the better. Over 44 years, we've grown a portfolio that includes more than 70 public companies, over 150 mergers and acquisitions, and currently have $5.5 billion under management. We invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. From developing market strategies to creating communities, we provide real impact where entrepreneurs need it most. When we're in, we're ALL IN.
SOURCE H1
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