The company tripled its business during the pandemic as users turned to digital solutions
According to the US Centers for Disease Control and PreventionHeart disease is the leading killer in the US, killing 690,000 people in 2020. That’s more than cancer, which kills 598,000 people annually, and COVID-19.
In addition, it’s one of the highest costs for employers, said Maayan Cohen, CEO of Hello Heart, a digital wellness program that aims to reduce healthcare costs by improving heart health.
“Heart disease and high blood pressure are the largest health cost drivers that are responsible for excessive illness $ 300 billion a yearor nearly a billion dollars a day. We know employers are looking for a best-in-class solution from a company that knows digital heart health inside out. That’s hello heart, “she said.
On Wednesday, the company announced that it, along with Hello Heart’s existing investors including Khosla Ventures, BlueRun Ventures, Maven Ventures, and Resolute Ventures, has raised an IVP-led Series C worth $ 45 million, thereby raising total funding was $ 68 million.
Along with the new funding, Somesh Dash, General Partner at IVP, joined the company’s board of directors.
“”IVP are experts in growing startups at later stages and helping them prepare for going public. Somesh’s experience in this field, as well as his personal interest in digital heart health, will be instrumental in our growth. ” said Cohen.
Hello Heart was founded in 2013 and combines hardware and artificial intelligence to reduce cardiovascular disease. It offers its users a blood pressure monitor and an app that records blood pressure readings as well as weight and physical activity. It also gives them out of range hypertension warnings and has patient controlled medication compliance reminders.
“”Hello Heart’s device with AI technology enables users to track and understand heart health through a mobile app, identifying serious heart problems before they turn into a catastrophic event. Plus, we can keep these users extremely busy with an unmatched user experience, “said Cohen.
The company’s users are very diverse and based in all parts of the country, she told me: Their ages range from 20 to 101 years old, with the average age of users being 54 years old.
“Some are using the program to better understand what is raising their blood pressure, others are trying to stop their blood pressure medication and stay off, and others are trying to avoid another emergency room visit,” she said.
Given that heart health is such a huge problem, it’s no surprise that there are a number of different companies out there trying to solve it, including Heartbeat Health, Eko and AliveCore. A differentiator for Hello Heart is the company’s ROI Deliver 2x the clinical results than any other solution on the market.
A cost savings analysis conducted by Evive found that Hello Heart offers a 34% cost reduction in heart damage in just one year, while a A peer-reviewed study conducted by researchers from UCLA and Harvard Medical School found that 70% of users lowered their blood pressure and the average drop in systolic blood pressure was 22 mmHg.
The company now has more than 30 Fortune 500 customers and multiple channel partners. Customers range from medical device manufacturing to healthcare systems to jumbo-sized retailers. The company also has relationships with CVS Health, which added Hello Heart to its Point Solutions management platform last year.
Hello heart too When Covid hit there was an increase in usage by users79% of users who used the app once a week increased their usage, while 42% doubled their usage.
“In addition, Hello Heart tripled its business in the last year. The program was critical to ensuring that populations struggling with high blood pressure can access their health from home,” Cohen said.
Following this new funding, the company, which employs approximately 60% women, including its executive team, plans to expand its technology Team to advance technical innovation and advance deeper AI in cardiovascular health. The company also plans to use the money to expand its go-to-market teams in terms of sales, marketing, and customer success.
“”We will continue to lead digital heart health and advance cardiovascular health care. Our plan is to dig deep into heart health innovation and grow as an independent, positive cash flow organization, “said Cohen.
(Image source: helloheart.com)