H1 Insights, a database curation and data analytic platform on healthcare professionals, closed a $58 million Series B funding round.
The round was co-led by IVP and Menlo Ventures, which led the Series A round in April 2020. Transformation Capital, Lux Capital, Lead Edge Capital, Novartis dRx, and YC also participated.
As part of the funding, Somesh Dash, general partner at IVP, is joining the H1 board. Meanwhile, IVP Partner Michael Miao, Menlo Ventures Partner J.P. Sanday, and Lux Partner Deena Shakir are joining as board observers.
The H1 Insights database platform (which connects parties within the healthcare ecosystem) has amassed comprehensive profiles of medical professionals and service providers, including their expertise, interests, publications, location, speaking engagements, and involvement in clinical trials. According to the company, the platform has more than 9 million profiles on healthcare professionals and 16,000 institutions in more than 70 countries.
“We have created a platform for the healthcare ecosystem to connect in the same way Linkedin connected professional workers in the early 2000s. There hasn’t been a global platform like H1 before that has connected industry to the right doctors the way H1 does,” said H1 co-founder and CEO Ariel Katz.
“This next round of funding, with our excellent investment group, including Menlo, who has been a great partner for us, will help us continue to become the largest healthcare professional platform and ultimately create a healthier future.”
Founded in 2017, H1 Insights has raised almost $80 million to date, including a $12.9 million Series A funding round (in April 2020) led by Menlo Ventures with participation from other investors.
Healthcare Data Analytics companies received $1.3 billion in venture capital in the first nine months (9M) of 2020, according to Mercom Digital Health Funding and M&A Report. Recently, Sema4, a patient-centered healthcare data analytics platform, announced that funds managed by BlackRock led its Series C financing round of $121 million at a post-money valuation of over $1 billion.