The funding will help H1 reach more pharma and life sciences companies. Here are the top-line bullets you need to know.
H1, a provider of a platform that connects healthcare professionals, has raised $100M in a Series C round. The round drew participation from Lux Capital, Transformation Capital, Altimeter Capital, and Goldman Sachs Asset Management, among others.
How’s the company performing?
- New York-based H1’s platform hosts a network of 10M healthcare professionals in order to help life sciences companies, hospitals, academic medical centers, and health systems connect with industry experts and find clinical research.
- The company’s solutions include Explorer, HCP Universe, Trial Landscape, and Carevoyance.
- The company has around 100 clients, including 7 of the top 10 pharmaceutical companies, such as Novartis and AstraZeneca, as well as several academic medical centers.
- H1’s ARR has grown by more than 250% this year.
- The company maintains 5 global offices and operates across 84 countries.
Why does the market matter?
- The digital health market is expected to be valued at $426.8B by 2027, growing at a CAGR of 17.4%, according to Global Market Insights.
- Venture funding to digital health tech startups came in at $24.7B in H1’21 across 1,194 deals, up 118% year-over-year.
- The impact of Covid-19 on healthcare infrastructure has led to a relaxation in government regulations, accelerating the trend of shifting healthcare to digital platforms.