Gaithersburg, Maryland-based Insightin Health has announced the full launch of its big data platform designed to help health plans manage customer relationships alongside news that it has closed a $2 million seed stage financing round.
The funding was led by Health Catalyst Capital Management, with participation from Revolution’s Rise of the Rest Seed Fund, TEDCO, SaaS Ventures, TCP Ventures, and other angel investors including Paul Silber of Blu Venture Investors. The company — which in September also announced a consumer-facing app that presents a user’s health data and options via text-based chatbot — plans to use the new funding to expand product development and boost sales and marketing.
"We're thrilled to have an all-star investor pool led by Health Catalyst Capital," Enam Noor, Insightin Health Founder and CEO, said in a statement. "For the consumer, health insurance decisions are very personal and emotional, and the typical process is confusing and complex. Through our AI-driven platform, we simplify communications between the health plan and the consumer and provide relevant information at a personal level. It's time to start thinking outside the box to improve our healthcare system. We are excited to pioneer this effort by supplying cutting edge member engagement technology to our health plan clients."
Insightin’s AI platform aims to increase health plans’ member acquisition, retention, and engagement. The technology offers insights and facilitates automatic development of one-on-one, personalized content influenced by plan members’ social determinants. The platform is HIPAA compliant, HITRUST certified, and in line with CMS regulations.
Along with these outreaches, patients have access to their own personal decision-making tools through the Insightin’s app. The app condenses several aspects of paying for and receiving care in a way that is easy to understand, and then begins planning the next best option in a way that reflects the user’s tendencies.
"By investing in a dynamic young enterprise like Insightin Health, Health Catalyst Capital is furthering its mission of improving access to the healthcare system while lowering costs," Charles Boorady, founding managing director of Health Catalyst Capital Management, said in a statement. "Finding new technologies that make health plans better able to find and serve their members is in our sweet spot as a fund. We are excited to partner with Enam and the team at Insightin as they better connect participants in the healthcare industry.”