The startup has bagged funding from healthcare-focussed venture capital firm W Health Ventures
The funds will also be deployed to establish a wider customer base and bolster foundational technology capabilities
Reveal HealthTech allows its clients to develop technology solutions with specialised tech expertise in the healthcare domain
Healthtech SaaS platform Reveal HealthTech has raised $4 Mn as part of a strategic funding round from healthcare-focussed venture capital firm W Health Ventures.
Reveal HealthTech will use the capital to ramp up its operations and hire talent. The investment will also be deployed to further develop its service suite, establish a wider customer base and shore up its foundational technology capabilities.
“… W Health Ventures’ global expertise and focus on the healthtech sector gives us an inside track on the challenges faced by the industry and will help accelerate our journey to being an industry-leading player in this domain,” Reveal HealthTech’s founder and CEO Sanchit Mullick said.
Chiming in, Pankaj Jethwani, partner at W Health Ventures said, “… Reveal’s differentiated approach makes them the ideal player to catalyse the positive change towards a tech-driven healthcare ecosystem. We’re thrilled to partner with Sanchit and his leadership team, who possess extensive expertise in technology, healthcare strategy, and care delivery.”
Founded earlier this year by Mullick, Salim Afshar and Andrew Bravo, Reveal HealthTech offers specialised engineering and strategy support to healthcare organisations across the globe, especially in the US. With its specialised healthcare talent and domain knowledge, Reveal HealthTech allows its clients to develop technology solutions without worrying about outsourcing or issues related to compliance with local norms.
With its tech team based largely out of India, Reveal HealthTech claims to partner with 1.5 Lakh engineers who have built products for the US healthcare industry. It also claims to collaborate with senior technology talent in India and to have a ‘large specialised talent pool’ of US tech experts outside America.
As per the company, this is W Health’s first investment in the healthcare technology services segment.
Reveal HealthTech’s primary market appears to be the US where it aims to cash in on the growing demand for healthcare SaaS products. Owing to the specialised and cheap talent pool available in India, a slew of homegrown companies have merged in the past that cater to the US healthcare industry.
Indian healthcare SaaS startups have offered better alternatives to US companies at a fraction of the cost. The result has seen renewed investor interest in such startups.
This is emblematic of the larger Indian enterprisetech ecosystem, which continues to be dominated by healthcare SaaS. According to an Inc42 report, the healthcare SaaS space is projected to become a $3.5 Bn market opportunity by 2025.