RadiantGraph, a pioneering platform that harnesses machine learning and artificial intelligence to enhance consumer engagement within health plans, has officially launched after securing a $5m in Seed funding.
The round was led by True Ventures and XYZ Ventures, with the participation of Remus Capital, and is expected to facilitate the company’s expansion, including forging partnerships with healthcare organisations and advancing their product offerings for enterprise health and health plans.
The company achieved this milestone after successfully raising $5 million in Seed funding, led by True Ventures and XYZ Ventures, with the participation of Remus Capital. The newly acquired investment will facilitate the company’s expansion, including forging partnerships with healthcare organisations and advancing their product offerings for enterprise health and health plans.
The rising costs of healthcare, with a projected 7% increase in 2024, have created a pressing need for improved consumer engagement. Engagement is crucial for better health outcomes and enhanced overall consumer experiences, particularly in managing chronic conditions, a significant driver of healthcare costs. RadiantGraph’s approach employs machine learning (ML) and artificial intelligence (AI) to transform data, including medical claims, medication history, and biometric data, into personalised healthcare experiences tailored to meet consumers where they are. The result is more effective communication, increased patient satisfaction, and improved healthcare outcomes.
Traditional healthcare players often lack the resources and expertise to deploy proprietary ML and AI models effectively. RadiantGraph’s platform approach can generate usable insights in weeks, saving companies millions in capital investment and drastically accelerating timelines to deploy models and deliver outcomes. This efficiency can reduce acquisition costs and boost revenue significantly.
Yusuf Sherwani, co-founder and CEO of Pelago, said, “We are firm believers in what the RadiantGraph team is building. Growth scale healthcare companies, as well as health plans, benefit from better population targeting that leverages data and AI. RadiantGraph is generating direct cost savings and ROI for Pelago; and they’re helping us bring new clinical growth and interventions to our members faster.”
Adam D’Augelli, partner at True Ventures, said, “There are many platform approaches that aim to improve health outcomes but miss the mark when it comes to engaging directly with patients. RadiantGraph’s approach prompts companies to digest often overlooked data to empower patients. There’s a big opportunity to uplevel a patient’s role in their own care management, and that will result in not only better health outcomes but greater cost effectiveness in our healthcare system at large.”
Anmol Martin, founder and CEO of RadiantGraph, said, “RadiantGraph addresses a problem I’ve worked to solve time and time again – companies building AI systems from the ground up in an effort to transform data into better consumer experiences. It’s simply inefficient. RadiantGraph can drive direct impact on outcomes and help healthcare companies apply AI to drive personalised experiences and keep up with the rapid evolution of AI technology underway. This removes the friction that healthcare companies experience when trying to engage with consumers; and outpaces in-house and third-party options.”
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