The oversubscribed round was Initiated by
Mucker Capital and Everywhere Ventures, with participation from Tau
Ventures, Riverfront Ventures, DHVP, Boutique Venture Partners,
Plug and Play Ventures and Techstars.
LOS
ANGELES, April 24, 2024 /PRNewswire/ -- Handl
Health, a first-to-market AI platform built to help benefits
consultants design and deliver affordable health benefits, today
announced an oversubscribed $2.5M
Seed fundraise initiated by Mucker Capital and Everywhere VC, with
participation from Tau Ventures, Riverfront Ventures, DHVP (Digital
Health Venture Partners), Boutique Venture Partners, Plug and Play
Ventures and Techstars. This funding will enable Handl Health to
realize its vision of revolutionizing employer-sponsored healthcare
through data-driven health plan design and management.
Handl Health was founded in 2022 after founders Ahmed Marmoush
and Ria Shah were awarded a Phase I
Small Business Innovation Research (SBIR) grant from the National
Institute of Health (NIH) to research the effect of price
transparency legislation – such as Hospital Price Transparency and
Transparency in Coverage – on the American employer and consumer.
This research led to the development of Handl Health's platform,
which leverages proprietary AI models to mine, clean and organize
healthcare price transparency data from publicly available sources
at scale. Today, the platform is used by benefits consultants
across the country to build affordable health plans for their
employer clients. With the Seed funding, Handl Health plans to
invest in further advancing its analytics and workflow automation
capabilities to give benefits consultants a single place to access
verified price transparency data to build and manage high
performing health plans.
"We are thrilled to announce this significant milestone in our
journey. Securing $2.5M seed funding
from our esteemed investors validates our vision and underscores
their confidence in our ability to revolutionize the
employer-sponsored benefits market," shares Ahmed Marmoush, CEO
& co-founder of Handl Health. "This funding not only fuels our
growth but also affirms our commitment to empowering brokers and
transforming the way health plans are built and managed."
In addition to their Seed funding, Handl Health has been awarded
a $1.3M Phase II SBIR grant from the
National Institute of Nursing Research of the NIH (Award Number
R44NR021119) to drive the development of an interconnected system
that manages pre-appointment billing and payment of healthcare
services between third party administrators, providers and plan
members. With the Seed funding and Phase II grant, Handl Health's
trajectory promises to revolutionize the ecosystem of
employer-sponsored benefits, from building plans to paying for
care.
"We're proud to support Handl Health in their Seed raise, and
are excited about their innovative approach and dedication to
revolutionize the way employer-sponsored benefits are designed and
delivered," explains William Hsu,
Partner and co-founder at Mucker Capital. "With their rapid
momentum, we have no doubt that Handl Health will deliver valuable
and transformative solutions to brokers and employers."
Research reported in this publication was supported by the
National Institute Of Nursing Research of the National Institutes
of Health under Award Number R44NR021119. The content is solely the
responsibility of the authors and does not necessarily represent
the official views of the National Institutes of Health.
About Handl Health
Handl Health (Techstars '23,
AlphaLab Health '23) is a first-to-market AI platform that
aggregates and analyzes publicly available healthcare pricing data
to help benefits consultants convert new business, retain clients
and execute on savings opportunities. Fueled by newly published
hospital and health plan price transparency data, Handl Health's
platform introduces the next generation of possibilities for
employer-sponsored benefits. To learn more, visit:
www.handlhealth.com.
Media Contact: shapari@handlhealth.com
About Mucker Capital
Founded in Santa Monica, CA in 2011, Mucker Capital
provides Pre-Seed, Seed and Series A capital and support for
startups in Southern California
and in other, similarly underfunded ecosystems outside Silicon
Valley.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/handl-health-secures-2-5m-in-seed-funding-to-drive-innovation-for-the-employer-sponsored-benefits-ecosystem-302124817.html
SOURCE Handl Health