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Foundation Health Secures $6 Million in Seed Funding to Power the Next Generation of Consumer Healthcare Experiences | ||
By: GlobeNewswire - 11 Mar 2024 | Back to overview list |
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Investment Accelerates the Development of SaaS Solutions Suite Featuring API-based Pharmacy and Telehealth Products SAN FRANCISCO, March 11, 2024 (GLOBE NEWSWIRE) -- Foundation Health, a pioneering healthcare technology company, today announced the closure of a $6 million seed funding round. Propelling Foundation Health into an exciting phase of growth, participants in the round include industry leaders Garry Tan (CEO, Y Combinator), Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures, and PageOne Ventures, with support from angel investors Paul Johnson (Lemonaid) and Meghan Fitzgerald (Grey Ghost Advisors). Foundation Health is dedicated to redefining the consumer healthcare experience by empowering clients to quickly develop and launch modern, digital-first pharmacy and telehealth solutions at scale. Featuring easy-to-integrate APIs and white-label products, the company enables health plans to disintermediate PBMs and take control over pharmacy services, facilitates direct-to-patient experiences for pharmaceutical manufacturers, and empowers digital health brands to easily launch innovative, on-brand experiences. "Our vision is to grow Foundation Health into the definitive tech platform for powering and managing complex consumer healthcare operations globally," said Foundation Health founder and CEO, Umar Afridi. "With this funding, we are equipped to accelerate product development, onboard customers currently on our waitlist, and continue engaging with new customers to ensure we're delivering precisely what the market needs. We are thrilled by the initial demand for our products and anticipate reaching profitability in approximately 18 months." Foundation Health's offerings encompass three core B2B products:
"Patients want clear pricing, lower costs, and convenient access to healthcare. These are not outrageous demands, yet solutions that meet them are few and far between,” said Afridi. “At Foundation Health, we believe traditional multi-month, multi-million dollar builds are the enemy of innovation and progress. We’re focused on providing affordable solutions that are intentionally built for speed and scale. Our services can be implemented within days, offering unparalleled speed-to-market for our clients at substantially lower costs than alternatives." While Foundation Health's services currently span the US, UK, and EU markets, the company's initial focus will be on driving innovation within the US healthcare landscape. For more information about Foundation Health and its healthcare solutions, visit www.foundationhealth.com. About Foundation Health: Media Contact: |
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