Total amount raised
$53.8 Million
Latest funding date
11/01/2021
Location
Ribbon Health has successfully raised funding over five rounds, with the latest being a Series B. The company is backed by 18 investors, including notable names like Andreessen Horowitz and Core Innovation Capital.
Keep reading to explore the intricacies of Ribbon Health's fundraising journey and the investors backing this innovative platform.
What Is Ribbon Health?
Ribbon Health is a predictive analytics and data platform for the healthcare industry. Based in New York, New York, the company employs between 101-250 people and has been acquired by H1.co.
Specializing in data solutions to improve healthcare outcomes, Ribbon Health operates as a private entity and has raised funding through multiple rounds, including Series B. The company is a key player in the healthcare data and analytics sector.
How Much Funding Has Ribbon Health Raised?
- Pre-Seed
- Amount Raised: Not publicly disclosed
- Date: August 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their predictive analytics and data platform.
- Seed
- Amount Raised: Not publicly disclosed
- Date: February 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial operations.
- Seed
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling the platform and enhance data capabilities.
- Series A
- Amount Raised: USD 10,250,000
- Date: February 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and invest in technology to build a top-tier data platform.
- Series B
- Amount Raised: USD 43,500,000
- Date: November 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and invest in technology to simplify healthcare decisions.
Total Amount Raised: USD 53,750,000. Current Valuation: Not publicly disclosed.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in companies from seed to growth stage, focusing on long-term, positive change. They have offices in San Francisco, Palo Alto, New York City, London, and Boston.
- Investment Focus Areas: Healthcare, technology, companies that challenge the status quo.
- Notable Investments: Airbnb, Deliveroo, Stripe.
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a well-known venture capital firm that invests in technology companies at various stages. They are recognized for their significant influence in the tech industry.
- Investment Focus Areas: Technology companies across various sectors.
- Notable Investments: Facebook, Twitter, Airbnb.
- Box Group
- Details: Box Group is an early-stage investment firm that focuses on supporting innovative startups. They are known for their hands-on approach with portfolio companies.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Not specified.
- Rock Health
- Details: Rock Health is a venture fund dedicated to digital health. They provide capital and support to startups aiming to transform healthcare through technology.
- Investment Focus Areas: Digital health companies.
- Notable Investments: Not specified.
- Sachin Jain
- Details: Sachin Jain is an individual investor with a background in healthcare. He is involved in various initiatives aimed at improving healthcare delivery and outcomes.
- Investment Focus Areas: Likely healthcare-focused investments.
- Notable Investments: Not specified.
What's Next for Ribbon Health?
Ribbon Health stands at the cusp of significant growth opportunities. With a recent $43.5 million Series B funding, the company is poised to expand its team and invest in technology to build a comprehensive data platform. This platform aims to simplify healthcare decisions by providing accurate and comprehensive data on providers, specialties, and insurance, addressing the "doctor data" gap and improving patient access to in-network, quality care.
Future fundraising opportunities appear promising as Ribbon Health continues to grow and demonstrate successful partnerships and technology advancements. The increasing demand for accurate healthcare data and the emphasis on cost transparency and quality in healthcare decisions further bolster their potential for attracting more investors.
However, challenges remain. The company must address the fundamentally flawed and disparate data in the healthcare industry, ensure the accuracy and comprehensiveness of provider data, and scale its technology and team to meet growing demands. Competing with other healthcare data platforms will also be a significant hurdle. Nonetheless, Ribbon Health's strategic focus and recent achievements position it well for future success.
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