Approaching year two of the global COVID-19 pandemic, companies everywhere are still making major adjustments to their everyday operations, and that includes a continued push toward digitization. Remote work opportunities have professionals rushing to update and polish their portfolios and profiles, especially LinkedIn—the Facebook of employment services and networking.
New York City-based startup H1 is capitalizing on the confluence of digitization and healthcare with its innovative and expansive data platform, a massive digital database that connects medical and life science professionals, allowing them to share research and credentials. It’s essentially a LinkedIn analogue for the wide-ranging-yet-specialized fields that make up the global healthcare landscape, and in just one year the company has seen tremendous growth, spurring several investors to continue bolstering the startup.
The database built by H1 is already impressive. Over 9 million professionals have active profiles covering more than 16,000 institutions in 70 countries, comprising a comprehensive, high-quality, and data-driven network that connects pharmaceutical, biotechnology, individual care, and other life sciences organizations. Co-founder and CEO Ariel Katz posits that H1 is en route to becoming “the largest healthcare professional platform,” with the aim to “ultimately create a healthier future.”
Katz created the company with Co-Founder and President Ian Sax in 2017, but the sudden coronavirus outbreak and pandemic created an urgency in the need to connect medical experts across fields. Katz and Sax hope H1 can both be the vanguard and standard-bearer of truth and authenticity in medical data-sharing and promote transparency and collaboration.
Less than a year after a successful series A round of funding, H1 recently completed stage B—a $58 million round led by “all-in” capital firm Menlo Ventures. The California-based firm also led the first round, joined by the investment funds of retired sports stars Baron Davis and Joe Montana, among others, and round two finds Menlo teaming with Institutional Venture Partners (IVP), one of the oldest venture capital firms around.
Investors recognize the clear need in the market for H1’s platform, especially as the fight against the coronavirus pandemic reaches a chaotic immunization distribution phase. The company graduated from startup accelerator Y Combinator in January 2020, and has already amassed $71 million in support, further fueling its growth as it eyes expanding into Europe and Asia.
One notable sign that H1 is on the right track: 13 of the top 20 pharmaceutical companies are already customers, an indication that gives Menlo Ventures partners Greg Yap and JP Sanday confidence in the generous investment. As the global healthcare ecosystem continues to change at a quick pace, H1 appears to be at the forefront of forging the essential connections that will benefit medical and life sciences professionals, and ultimately patients, worldwide.
