Noida-based Reveal HealthTech, a healthcare technology firm has raised $4 million in seed funding from W Health Ventures, a healthcare-focused VC that claims to invest in and grows tech-enabled early-stage healthcare companies.
The company will utilise the capital to invest in further developing its service suite, establishing a wider customer base, and expanding its talent acquisition, training, and development efforts.
Reveal HealthTech aims to address the top three talent challenges faced by healthcare organizations today, including talent identification and selection, lack of healthcare domain expertise, and high turnover among software teams at healthcare organizations. The newly generated fund will help the company in doing that.
The start-up claims to provide cross-functional technology services to healthcare companies, offering engineering, clinical, and strategic support. It eyes to partner with US-based healthcare organizations to maximise patient health outcomes by removing technology as a constraint to innovation and scale.
Talking about the latest development, Sanchit Mullick, the founder and CEO of Reveal HealthTech, said, “At Reveal HealthTech we seek to address this need by providing healthcare-specific engineering excellence complemented by clinical expertise and strategic insights. W Health Ventures' global expertise and focus on the health-tech 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”.
Speaking about the investment, Pankaj Jethwani, Partner, W Health Ventures, said, "As believers in the transformative impact of technology on healthcare, we recognise the challenges in its development and implementation. With technology spending in the US healthcare sector growing at 13 per cent CAGR, and healthcare regulations constantly changing, there is a clear need for an agile and sector-focused technology services company that understands the challenges faced by other healthcare companies.”