Fold Health, a Pune-based start-up offering software solutions to healthcare facilities, has raised a total investment of $12mn after securing an additional $6mn in a funding round led by Iron Pillar, alongside a host of investors. The software provided by Fold Health helps healthcare facilities automate their daily operations via customer relationship management, content management system, campaign management, secure messaging services, and patient surveys.
Origin of Fold Health
Fold Health was founded by Abhijit Gupta and Ram Sahasranam. Gupta, who is also the CEO of the company, and Sahasranam, the co-founder and president, have a background as serial entrepreneurs and investors in the healthcare industry They had previously founded Praxify Technologies together, which was eventually acquired by Athenahealth in 2017.
According to the World Economic Forum, "By 2025, digital healthcare is expected to grow to USD 536.6bn, at a double-digit CAGR of 22.7%." With the expected growth of the healthcare digital industry, solutions, such as those offered by Fold Health, will become increasingly necessary to provide effective and efficient healthcare on a global scale.
Statement by the co-founders
The founders of Fold Health, Abhijit Gupta and Ram Sahasranam, expressed their excitement and gratitude upon receiving the investment for their company. In a joint statement, they said, "We are thrilled to have received this investment and backing from Iron Pillar and other investors. This funding round is an incredible validation of our vision to provide innovative software solutions for healthcare facilities worldwide. With this support, we are now even more motivated to expand our reach and bring our automation capabilities to healthcare providers around the globe.”
The $6mn investment will be largely dedicated to expanding the company and hiring more personnel in addition to the current teams, which currently consist of 40 people based in Pune and nine people in their US office. The total funding promises to be an excellent outcome for Fold Health, allowing it to ensure seamless operations for healthcare facilities worldwide, benefiting individuals and healthcare professionals alike.
If healthcare operations desire to keep up with the ever-evolving landscape of the industry, they will need to equip themselves with the necessary solutions. Companies, like Fold Health, embracing automation will help this become a reality.