INDIA – Reveal HealthTech, a healthcare technology firm headquartered in Noida, has secured US$4 million in seed funding to help boost its growth and innovation.
The funding round was led by W Health Ventures, a healthcare-focused venture capital (VC) that invests in and grows tech-enabled early-stage healthcare companies.
Leveraging technology in the smartest way possible to meet patients’ and providers’ needs, Reveal HealthTech aims to help reveal the transformative potential of technology in delivering healthcare.
The Noida-based company will use the fresh funds to develop its service suite, establish a wider customer base, and expand its talent acquisition, training, and development efforts.
The news comes at a time when healthcare firms are facing challenges in talent identification and selection and experiencing high turnover among software teams working in the organizations.
Reveal HealthTech plans to utilize the funding towards securing top talent with domain expertise as the company expands its operations in India.
“At Reveal HealthTech, we seek to provide healthcare-specific engineering excellence complemented by clinical expertise and strategic insights,” stated Sanchit Mullick, Founder and Chief Executive Officer of Reveal HealthTech.
With the new funding, the startup intends to collaborate with US-based healthcare organizations to maximise patient health outcomes as well as remove barriers to technology adoption for the firms.
This move will help to reduce technology spending in the healthcare sector in the United States, which is growing at a 13% compound annual growth rate (CAGR).
“W Health Ventures’ global expertise and focus on the health-tech sector gives us an inside track on the challenges faced by the industry and will help accelerate our journey to being an industry-leading player in this domain,” said Mullick.
Commenting on the deal with Reveal HealthTech, Pankaj Jethwani, Partner at W Health Ventures, stated: “As believers in the transformative impact of technology on healthcare, we recognise the challenges in its development and implementation.”
He further pointed out that there is a clear need for an agile and sector-focused technology services company that understands the challenges faced by other healthcare companies.
“We’re thrilled to partner with Sanchit and his leadership team, who possess extensive expertise in technology, healthcare strategy, and care delivery,” said Jethwani.
Reveal HealthTech provides cross-functional technology services to healthcare companies, offering engineering, clinical, and strategic support.
“Reveal’s differentiated approach makes them the ideal player to catalyze the positive change towards a tech-driven healthcare ecosystem,” added Jethwani.
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