Fold Health, a health digital platform, received $6 million in funding from Iron Pillar. Additional investors involved Dr. Rushika Fernandopulle, Dr. Christine Cassel, Dr. Molly Coye, Dr. Sridhar Krishnan, and Anurag Jain.
The capital infusion will be used to continue scaling the San Francisco- and Pune-headquartered startup’s platform and hire talent. “We have got nine customers with about 15,000 lives among them. This year, we should be at 10X or more of that in the next 12 months,” founder and CEO Abhijit Gupta, as reported by The Economics Times.com
“Abhi and Ram are seasoned entrepreneurs with a profound understanding of the challenges that primary care is grappling with in transitioning to value-based care. Their domain expertise, combined with a massive US healthcare market ready for disruption, a unique built-from-scratch VBC technology stack, and strong endorsement by their early customers and prospects got the Iron Pillar team excited about backing Fold,” Mohanjit Jolly, partner at Iron Pillar, said.
“When Praxify started in the US, the country’s healthcare market was at $1.6 trillion dollars. In a decade it has gone to $4.6 trillion, but nothing majorly has changed for the provider or the patient outcomes. Providers have gone through more burnout rather,” Gupta told ET.
About Fold Health
In 2021, Ram Sahasranam and Abhijit Gupta founded Fold Health, a platform that offers solutions for healthcare professionals, interacts with electronic health records, and enables users to automate chores.