NEW YORK — H1, which operates a global healthcare network that connects healthcare professionals, has raised a $100 million Series C round of funding led by Altimeter Capital, joined by new investors Goldman Sachs Asset Management and Flex Capital, with participation from existing investors IVP, Menlo Ventures, Transformation Capital, Lux Capital and LeadEdge.
H1 will use the new money to invest in the expansion of its data and network, product development and hiring, with a goal to make H1 the core global healthcare network for every medical professional and organization in the world.
H1 has built a healthcare data network for Healthcare Providers (HCPs), searching scholarly data and medical claims data to surface the most relevant researchers or clinicians given any criteria. The company’s platform helps life sciences companies, hospitals, academic medical centers and health systems connect with providers, find clinical research, locate industry experts, and benchmark their organizations. Most recently, H1’s focus on allowing doctors to enhance their own individual profiles has further increased the depth and value of the proprietary data. Seven of the top 10 pharmaceutical companies in the world and several leading academic medical centers (Columbia, UPenn, and others) are now H1 customers. In 2021 to date, the company’s annual recurring revenue (ARR) has grown by over 250 percent as the appetite for health data continued to accelerate and the network effect took hold.
“H1 has amassed a treasure trove of data, seeking to help healthcare organizations make better, more informed and actionable decisions – data that we believe has become a must-have in today’s fast-changing healthcare environment,” said Pauline Yang, Partner at Altimeter Capital. “We’re excited to back such an innovative company that’s helping fulfill a large and urgent market need.”
“We’ve created a flywheel that spins faster the more HCPs and industry partners engage with our platform and network,” said Ariel Katz, co-founder and CEO of H1. “No other company can match the volume and quality of global healthcare data H1 has, and as a result no one can match the insights we surface. The next phase of our growth will be focused on helping healthcare organizations harness our network for better decision making.”
H1 solutions include:
- Explorer, the most comprehensive platform of HCPs ever assembled. HCPs can claim and update their profiles to use as their digital CV, connect with industry influencers, and access research, speaking and clinical trial opportunities.
- HCP Universe, the single source of truth about medical professionals globally. It enables healthcare organizations to identify and engage healthcare providers, from advisory board members to treatment specialists, digital opinion leaders and more.
- Trial Landscape, a robust global platform to understand principal investigator profiles and clinical trial sites for access expansion to therapeutic options for patients. Trial Landscape also helps healthcare organizations comply with new FDA guidelines related to physician and patient diversity in clinical trials.
- Carevoyance, the best targeting, sales enablement, and physician segmentation platform for medical device sellers.
“Data has emerged as the fuel for every aspect of healthcare, from clinical research to diagnostics to clinical care,” said Katz. “H1 wants to be the single source of truth for that data, worldwide.”