BREAKING: Handl Health has just secured $14.2 million in a Series A funding round, catapulting its mission to disrupt rising healthcare insurance costs using cutting-edge AI technology. The Culver City-based company, led by co-founders Ahmed Marmoush and Ria Shah, aims to reshape the healthcare intelligence landscape by enhancing the way health insurance is built, launched, and monitored.
This significant funding, spearheaded by Arthur Ventures, is poised to accelerate the rollout of Handl’s AI-powered platform, which addresses a critical gap in healthcare pricing transparency. “We are witnessing a pivotal moment in healthcare legislation surrounding transparency,” Marmoush stated. He highlighted the shocking price disparities in medical procedures, such as colonoscopy costs ranging from $350 to $3,500, emphasizing the urgent need for consumer-facing tools that enable cost comparisons.
Over the past year, Handl Health has experienced a staggering 300% revenue increase, driven by the increasing demand from mid- and large-sized companies eager to combat soaring healthcare premiums. Currently, over 164.5 million people in the U.S., approximately 60% of citizens under retirement age, rely on employer-sponsored health plans, underscoring the urgency of Handl’s mission.
Participating in the Cedars-Sinai Accelerator program in 2023 has further propelled Handl Health’s journey, providing mentorship and resources focused on improving healthcare delivery. The company’s innovative approach combines national data monitoring with advanced analytics to optimize health plans, offering significant potential for impact as more organizations seek to integrate features like virtual care.
As the healthcare industry grapples with rising costs, Handl Health’s commitment to enhancing transparency and accessibility in insurance options is more relevant than ever. The funding announcement marks a crucial step in addressing one of the most pressing challenges facing consumers and businesses alike.
WHAT’S NEXT: Watch for updates on Handl Health’s platform rollout and its impact on the insurance landscape. As healthcare costs continue to rise, the effectiveness of Handl’s solutions may set new standards for insurance practices across the country.
