Guidepost, which is helping insurers lowers costs of diabetes, has reportedly raised funding from Rand Merchant Investment (RMI).
The deal is worth a 25.1% stake in Guidepost, but the value of the investment was not disclosed, according to BusinessTech.
RMI made the investment through its FinTech-focused venture capital division AlphaCode, it said.
With the new equity, the InsurTech is looking to hire further key executives, further develop its technology and grow the business locally and internationally with insurance partners.
Guidepost provides dedicated coaches for diabetes, using data analytics to understand the needs of individuals.
South Africa-based Guidepost reduces hospitalization rates and improves the use of medication and procedures by supplying self-management education and support. The platform also helps improve the trust between a diabetes coach and the patient and improving data exchange and reposting capabilities.
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