Reveal HealthTech secures $4 million funding from W Well being Ventures to drive innovation by offering healthcare organizations with specialised engineering

• Reveal HealthTech affords a cross-functional strategy to healthcare expertise providers, comprising engineering, medical, and strategic assist
• The corporate is on a mission to accomplice with shoppers to maximise affected person well being outcomes by utilizing the transformative potential of expertise in delivering care
• The funding will permit the corporate to scale its operations, rent expertise, and develop foundational expertise capabilities to raised serve the expertise wants of its shoppers within the healthcare trade

NEW YORK, March 22, 2023 /PRNewswire/ — Reveal HealthTech, a healthcare expertise agency has raised $4 million in seed funding from W Well being Ventures, a healthcare-focused VC that invests in and grows tech-enabled early-stage healthcare corporations. Reveal HealthTech gives cross-functional expertise providers to healthcare corporations, providing engineering, medical, and strategic assist. It goals to accomplice with US-based healthcare organizations to maximise affected person well being outcomes by eradicating expertise as a constraint to innovation and scale. The corporate will make the most of the capital to put money into additional growing its service suite, establishing a wider buyer base, and increasing its expertise acquisition, coaching, and growth efforts.

That is W Well being’s first funding within the healthcare expertise providers section. Expertise spend in healthcare within the US is rising ~13% year-on-year and is predicted to achieve $141B in 2023. Of this, it’s estimated that 30% or $41B is outsourced by healthcare corporations to expertise providers organizations.  That is primarily due to the challenges associated to hiring, growing, and retaining engineering expertise in healthcare. Furthermore, fewer than 10% of main product engineering companies provide specialised healthcare expertise with related area understanding, which is particularly necessary given advanced rules, knowledge privateness, and the necessary real-world implications related to treating sufferers.

Reveal HealthTech goals to deal with the highest three expertise challenges confronted by healthcare organizations at this time, together with expertise identification and choice, lack of healthcare area experience, and excessive turnover amongst software program groups at healthcare organizations. The corporate is targeted on leveraging its area experience to create impactful healthcare expertise options for its shoppers. The staff has been profitable in figuring out and partnering with top-quality senior expertise expertise in India. The corporate will entry an out there pool of over 150,000 engineers who’ve constructed merchandise for the US healthcare trade. This varieties the biggest specialised expertise pool with US healthcare expertise experience exterior of america.

Sanchit Mullick, Founder and CEO, Reveal HealthTech says: “Healthcare is the biggest sector within the US financial system and has important labor shortages, not simply amongst clinicians but additionally from an engineering perspective. As expertise takes middle stage in driving healthcare transformation, the trade wants companions that may assist drive purposeful adoption of expertise in constructing new Digital Care Pathways. At Reveal HealthTech we search to deal with this want by offering healthcare-specific engineering excellence complemented by medical experience and strategic insights. W Well being Ventures’ international experience and concentrate on the health-tech sector provides us an inside monitor on the challenges confronted by the trade and can assist speed up our journey to being an trade main participant on this area.”

Talking in regards to the funding, Pankaj Jethwani, Associate, W Well being Ventures, mentioned, “As believers within the transformative impression of expertise on healthcare, we acknowledge the challenges in its growth and implementation. With expertise spending within the US healthcare sector rising at 13% CAGR, and healthcare rules continuously altering, there’s a clear want for an agile and sector-focused expertise providers firm that understands the challenges confronted by different healthcare corporations. Reveal’s differentiated strategy makes them the perfect participant to catalyze the constructive change in direction of a tech-driven healthcare ecosystem. We’re thrilled to accomplice with Sanchit and his management staff, who possess in depth experience in expertise, healthcare technique, and care supply.”

About W Heath Ventures 

W Well being Ventures is an early stage, healthcare-focused VC fund that invests in corporations that handle important unmet healthcare wants to enhance care supply leveraging expertise within the US and India.

https://www.whealthventures.com/

About Reveal HealthTech

Reveal HealthTech gives specialised engineering, medical mannequin, and technique assist to healthcare organizations within the US and worldwide. Our mission is to maximise affected person well being by eradicating expertise as a constraint to healthcare innovation. To study extra, go to www.revealhealthtech.com or contact [email protected]

Brand: https://mma.prnewswire.com/media/2038195/Reveal_HealthTech_Logo.jpg

SOURCE Reveal HealthTech