BREAKING: Handl Health has just secured $14.2 million in Series A funding to revolutionize the healthcare intelligence sector and address soaring insurance costs. Led by Arthur Ventures, this funding will accelerate the launch of their innovative AI-powered platform, which is set to transform how consumers and businesses navigate health insurance options.
Based in Culver City, California, Handl Health aims to tackle the substantial discrepancies in healthcare costs, exemplified by procedures like colonoscopies that can range in price from $350 to $3,500. “We are fortunate to be entering the market at a time when legislation is pushing for greater healthcare transparency,” stated Ahmed Marmoush, co-founder and CEO of Handl Health. “Our platform empowers users to compare costs effectively and provides tailored solutions for insurance brokers and third-party administrators.”
The funding comes on the heels of a remarkable 300% revenue increase over the past year, as mid- and large-sized companies seek strategies to mitigate rising healthcare premiums. Approximately 164.5 million people in the U.S.—or about 60% of citizens under retirement age—rely on employer-sponsored health plans, making this development timely and impactful.
Marmoush emphasizes the platform’s capabilities, stating, “We have national data at a specific service level and monitor them as they change. Integrating various healthcare services, like virtual care, can significantly enhance outcomes for users.” With this funding, Handl Health plans to expand its consumer-facing tools and enhance its offerings for businesses.
Handl Health previously participated in the Cedars-Sinai Accelerator program in 2023, which provided them with essential mentorship and grant support aimed at improving healthcare delivery. The company, founded by Marmoush and Chief Product Officer Ria Shah, is poised to make a significant impact in the healthcare landscape as it continues to develop its platform.
As the healthcare industry grapples with rising costs and increasing demand for transparency, the rollout of Handl Health’s platform is more crucial than ever. Keep an eye on this groundbreaking development that could reshape the insurance landscape for millions.
For more details and updates on Handl Health’s progress, stay tuned as this story develops. This is a pivotal moment for healthcare technology and its implications for consumers and businesses alike.
