finance news

AI platform GYANT secures $13.5 million in Series A funding round

AI platform GYANT secures $13.5 million in Series A funding round
AI platform GYANT secures $13.5 million in Series A funding round

GYANT, an AI-enabled health platform that offers patient-doctor engagement services, has reportedly announced raising $13.6 million in a Series A funding round. The investment round was led by Wing Venture Capital with participation from Intermountain Ventures and present investors Alpana Ventures, Plug and Play Ventures, Techstars Ventures, and Grazia Equity.

Demand for the companys AI-enabled Front Door solution observed massive growth in 2020, which further increased due to COVID-19 pandemic that forced fast, widespread implementation of digital services.

Estimates claim that the digital health industry is valued at more than $106 million and is projected to expand substantially as providers innovate to fulfill the demand of healthcare customers. Offering its solutions at the need of the hour, the company’s financing is witnessing a remarkable upsurge since the firm has grown from 3 customers in July 2019 to 24 consumers in July 2020.

The company would use these recently raised funds to provide best-in-class services and support for its high-profile and fast-growing consumer base, including Geisinger and Intermountain Healthcare. Additionally, the firm would enhance interoperability and technology to offer personalized digital and user-friendly care navigation assistant in the industry.

Chief Executive Officer and Co-Founder of GYANT, Stefan Behrens stated that the company is thrilled by receiving the support of successful, ambitious investors who can see the potential of AI in healthcare sector. The demand for care navigation and digital access has never been higher, particularly with healthcare disparities and inequities in the spotlight presently.

Behrens added that the firm needs to continue its growth and work on its aim of personalized patient experiences using digital navigation to offer best and right possible care.

Patient expectations for a seamless and convenient healthcare experience continue to rise. Due to this, health systems require digital health tools to enhance patient experience. GYANT provides technologies that keep these health systems ahead of such customer demands while reducing operational expenditures. 

Source Credit: https://www.manchestertimes.com/news/business/gyant-closes-13-6-million-series-a-funding-round-led-by-wing-venture-capital/article_1e776151-182c-5897

 

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A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.