CVS Health Ventures backs H1 with $40 million for provider directory AI
H1, a New York-based data company, raised $40 million in a funding round led by CVS Health Ventures. The investment follows a collaboration between the two companies that used AI to improve how patients find and connect with healthcare providers.
What H1 does
H1 operates an AI platform that helps identify appropriate healthcare providers and connect patients with them. The company serves technology vendors, health plans, health systems, and life sciences companies.
The CVS Health partnership produced an AI model that substantially improved the accuracy of healthcare provider directories. Better directory data directly improved the rate at which patients successfully connected with providers.
Recent activity
H1 acquired Veda, a provider data and automation company serving health insurance plans, last year. The company also bought Ribbon Health, a General Catalyst-backed data management software company, for an undisclosed amount paid in cash and stock.
In 2023, H1 partnered with the Michael J. Fox Foundation to help identify physicians actively treating Parkinson's disease patients and gather treatment data.
Funding history
H1 has raised $123 million total across multiple rounds since its 2017 founding. The company closed a Series C extension in 2022 after raising $100 million in the initial Series C in November 2021. A $58 million Series B round followed a $12.9 million Series A, with an earlier $6 million seed round from incubator Shore Group in 2018.
Justin Brock, a partner at CVS Health Ventures, said in a statement: "CVS Health has a long-standing commitment to improving access to care and this collaboration represents another step in our mission to develop industry-leading solutions that simplify the healthcare experience."
For professionals working in healthcare, understanding how AI for Healthcare improves provider matching and directory accuracy can clarify emerging industry priorities. AI Data Analysis capabilities like H1's are becoming standard infrastructure across health systems and plans.
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