The startup said it aims for the expansion of its services and hiring talent across the US.
The round also witnessed participation from Dr Rushika Fernandopulle, ex-Founder and CEO of Iora Health and the Founder of One Medical; Dr Christine Cassel, past President and CEO of the National Quality Forum; Dr Molly Coye, a former Board Member of Aetna; Sridhar Krishnan, the former Chief Growth Officer at Cigna; and Anurag Jain, Managing Partner at VC firm Perot Jain.
Founded in November 2021 by Abhijit Gupta and Ram Sahasranam, Fold Health said it offers a digital platform designed for value-based primary care.
The startup integrates with electronic health records, providing adaptable and modular tools for healthcare providers, eliminating the need for building custom software solutions from the ground up and is operable on any browser-based system, including mobile phones.
Additionally, the startup's software has the ability to collect data from wearable devices, such as Apple Watches or glucose meters, and transmit the information to healthcare providers.
The company claims to be the first to offer an electronic health record (EHR)-integrated microservices platform aimed at collaborative care teams.
“Amid staff burnout, physician shortages, and a disjointed point solution ecosystem, the primary care sector is striving to navigate the significant shift from volume to value-based care. Fold Health is committed to empowering practices, supercharging existing technology, and dramatically improving patient outcomes,” said Abhijit Gupta, Co-founder and CEO of Fold Health.
“We’re thrilled to back Fold Health, a true innovator in digital health. The Iron Pillar team has known Fold’s founders for years. Abhi and Ram are seasoned entrepreneurs with a profound understanding of the challenges that primary care is grappling with in transitioning to value-based care. Their domain expertise, combined with a massive US healthcare market ready for disruption, a unique built-from-scratch VBC technology stack and strong endorsement by their early customers and prospects got the Iron Pillar team excited about backing Fold,” said Mohanjit Jolly, Partner at Iron Pillar.