Handl Health, an AI platform built to help benefits consultants design and deliver affordable health benefits, announced an oversubscribed $2.5 million seed funding round initiated by Mucker Capital and Everywhere VC, with participation from Tau Ventures, Riverfront Ventures, Digital Health Venture Partners (DHVP), Boutique Venture Partners, Plug and Play Ventures and Techstars. This funding round will enable Handl Health to realize its goal of transforming employer-sponsored healthcare through data-driven health plan design and management.
Handl Health was launched in 2022 after founders Ahmed Marmoush and Ria Shah were awarded a Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Health (NIH) to research the effect of price transparency legislation on American employers and consumers.
This research led to the creation of Handl Health’s platform, which utilizes proprietary AI models to mine, clean, and organize healthcare price transparency data from publicly available sources at scale. Now, the platform is used by benefits consultants across the country to build affordable health plans for their employer clients.
With the seed funding round, Handl Health plans to invest in further advancing its analytics and workflow automation capabilities. This will give benefits consultants a single place to access verified price transparency data to build and manage high-performing health plans.
Along with its seed funding round, Handl Health has been awarded a $1.3 million Phase II SBIR grant from the National Institute of Nursing Research of the NIH (Award Number R44NR021119) to drive the development of an interconnected system that manages pre-appointment billing and payment of healthcare services between third-party administrators, providers, and plan members. With the Seed funding and Phase II grant, Handl Health’s trajectory promises to revolutionize the ecosystem of employer-sponsored benefits, from building plans to paying for care.
KEY QUOTES:
“We are thrilled to announce this significant milestone in our journey. Securing $2.5M seed funding from our esteemed investors validates our vision and underscores their confidence in our ability to revolutionize the employer-sponsored benefits market. This funding not only fuels our growth but also affirms our commitment to empowering brokers and transforming the way health plans are built and managed.”
- Ahmed Marmoush, CEO & co-founder of Handl Health
“We’re proud to support Handl Health in their Seed raise, and are excited about their innovative approach and dedication to revolutionize the way employer-sponsored benefits are designed and delivered. With their rapid momentum, we have no doubt that Handl Health will deliver valuable and transformative solutions to brokers and employers.”
- William Hsu, Partner and co-founder at Mucker Capital
