Helia Care has closed a $3 million funding round with participation from In Revenue Capital alongside Habanero Ventures, following what the investors described as a record year of growth for the company’s AI-enabled network focused on bill-only medical device procurement.
Helia’s platform is designed for bill-only transactions, which occur when hospitals need to order critical, high-cost devices and supplies at the time of surgery or treatment rather than pulling from existing inventory. The release cites industry reports that bill-only transactions account for 50% of hospital supply chain spending and 60% of net patient revenues, positioning the workflow as a key lever for cost control and operational efficiency.
The company said it aligns clinical ordering with existing supplier contracts to reduce errors, off-contract purchasing, and pricing discrepancies that contribute to fraud, waste, and abuse. Because the software is embedded into hospital workflows, Helia says the financial impact is immediate and scalable once deployed, with the company now aiming for a $10 billion savings milestone as it expands adoption across health systems, suppliers, and distributors.
In Revenue Capital, the investment is framed as consistent with its operator-immersive approach, backing companies it believes have demonstrated disciplined execution and measurable outcomes as they scale and go to market. Habanero Ventures similarly cited supplier relationships, evidence of adoption across health systems, and quantified savings as indicators of readiness to accelerate growth in a complex healthcare purchasing category.
KEY QUOTES
“For us, this investment was driven by more than growth; it was driven by results,” said Justin Gray, co-founder and managing partner of In Revenue Capital. “Helia saves hospitals an average of $1.85 million per location, turning its strategic vision into clear, measurable savings. The company has spent years building a true two-sided network that includes the world’s leading medical device suppliers. With the supplier ecosystem now in place, health systems and suppliers are seeing immediate value and expanding adoption across their organizations. The business fundamentals are very strong.”
Justin Gray, Co-Founder And Managing Partner, In Revenue Capital
“The hardest part of building a true healthcare network is earning trust on both sides,” said Grant Siders, founder and chief executive officer of Helia Care. “By aligning clinical workflows with contracted supplier economics, we’ve created a platform where hospitals, suppliers, and distributors all win, and where expansion becomes a natural byproduct of delivered value.”
Grant Siders, Founder And Chief Executive Officer, Helia Care
“What stood out to us is that Helia is not just solving a technical problem; it is solving an execution problem that hospitals and suppliers deal with every day,” said Craig Coppola, founder and manager, Habanero Ventures. “The team has built the supplier relationships, proven adoption across real health systems, and demonstrated measurable savings, which is exactly what you want to see before scaling go-to-market in a category this complex.”
Craig Coppola, Founder And Manager, Habanero Ventures
