The San Francisco and Pune-based health startup, Fold Health, has secured $6 million in a funding round, bringing the total investment to $12 million, as stated in a release by the company.
The funding was led by Bengaluru-based venture growth investor, Iron Pillar. Other investors, including Dr. Rushika Fernandopulle, CEO and co-founder of Iora Health; Dr. Christine Cassel; Dr. Molly Coye; Sridhar Krishnan, Vice President of Catalent Pharma; and angel investor Anurag Jain, also participated in the funding round.
According to the release, the health startup will utilise these funds to scale the business and hire talent. Currently, the startup employs 40 people in the Pune office and aims to expand its employee count in the US office, which currently has nine employees.
Fold Health was co-founded by Abhijeet Gupta, former Vice President-Clinicals Mobile of Athena Health, and Ram Sahasranam, former Director of Athena Health, in 2021.
Fold Health provides software solutions to healthcare facilities, easing their daily operations through a Customer Relationship Management system (CRM), Content Management System (CMS), Campaign management, Secure messaging services, and patient surveys. Fold Health’s features include an end-to-end workflow engine that automates tasks required by value-based providers, such as care gap closure, transitional care management, annual wellness visit completions, high-risk patient engagement, and attribution growth and protection.
Mohanjit Jolly, Partner, Iron Pillar, said, “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,”
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Bengaluru-based Iron Pillar provides growth capital to businesses with Series B/C/D funding rounds in India and globally. Its investment portfolio includes the online meat delivery platform Fresh to Home, conversational automation technology company Uniphore, and mobile device management services provider Servify.