NEW YORK — H1, which operates a global platform for the healthcare ecosystem, announced 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 Y Combinator also participated.
H1 says it 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.”
