NEW YORK, April 22, 2020 /PRNewswire/ -- H1, a provider of data driven solutions for the healthcare industry, announced today the completion of its first institutional funding round. Menlo Ventures led the $12.9 million Series A, 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 join H1's board of directors.
The company will use the capital to grow its existing team, including sales, customer success and engineering, as well as to fuel expansion into additional market segments.
H1 is the largest data platform connecting healthcare and life science professionals and companies. Its platform – the largest in the industry – provides comprehensive in-depth profiles of more than 8 million healthcare professionals and 16,000 institutions in 70-plus countries, all of which are kept up-to-date weekly. H1 enables users to understand and analyze any healthcare professional's full profile, including expertise, interests, publications, location, conferences and congresses, and clinical trials, and leverages 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 around the world use H1's intuitive interface to identify and connect with the healthcare professionals most relevant to the products they're 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 really excited to welcome such a strong group of investors, led by Menlo Ventures, as we begin our next chapter of growth."
Founded in 2017, H1 has seen rapid growth and expansion of its global healthcare analytics platforms. Revenue grew 350% in 2019 compared to 2018. The company counts over 35 pharmaceutical companies as clients, including seven of 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."
H1 is connecting the healthcare ecosystem with data. We have built a global platform of healthcare professionals and healthcare organizations. For more information on H1, please visit https://h1insights.com.