HiLabs raised $39 M Series B funding from Eight Roads Ventures, Denali Growth Partners
The Indian healthcare solutions company HiLabs announced a $39 million Series B financing on Thursday.
According to a statement from HiLabs, the round was led by Denali Growth Partners and Eight Roads Ventures, with participation from F-Prime Capital.
The statement claims that the capital raise is in response to the quick uptake of the company’s MCheckTM platform for the ingestion, cleansing, and enrichment of healthcare data by customers. It also aims to finance the company’s ongoing development of the technology, hiring of elite personnel, and growth of its product teams.
“Timely and high-quality data exchange between payers and providers is key to reducing care costs, improving outcomes,” said Amit Garg, Co-founder, and Chief Executive Officer of HiLabs.
“As we embrace this next phase of growth, we’re thankful for the backing of healthcare-focused investors,
“We stand poised to propel our AI technology forward, empowering healthcare organizations to make swift, informed decisions based on data that’s not just clean, but readily available when it matters most,” he added.
HiLabs, an artificial intelligence (AI) solutions provider, was founded in 2014 with the goal of enabling the hidden potential of dirty data to transform healthcare.
At a time when healthcare organizations around the world are moving toward data-driven decision-making, the firm’s mission is to guarantee payers, providers, and patients’ timely access to clean data.
Patient outcomes are improved and operational costs for healthcare organizations are significantly reduced thanks to the company’s cloud-based MCheck platform, which ingests, purifies, and enriches vital healthcare data.
Some of the biggest health insurance providers in the US are able to automate and enhance their administrative procedures with the help of the MCheck platform technology.
With data analysis capabilities for more than 80% of the nation’s healthcare providers, the company’s provider directory management solution is operational in the majority of US states.
It is adding value-based care data and electronic medical records to its platform’s expanding list of data types.
