Bonfire Analytics Raises $2M Venture Round
Summary
The round will fuel product and growth initiatives to further Bonfires mission of accelerating healthtech adoption such that life-saving digital tools, devices, and therapeutics get in the hands of patients faster than ever before.Healthtech is a burgeoning part of the healthcare industry and has rapidly risen in value. Medicare, Medicaid, Commercial) medical & prescription claims, 2M+ healthcare providers, and 1,000+ variables across population health including demographic, disease state, social risk factors, and social determinants of health.Through a proprietary AI/ML engine built on top of this data, Bonfire Analytics empowers sales leaders at mid-market & enterprise healthtech companies to build effective commercial strategies, strong business cases, and quickly identify high-value territories and accounts so that sales reps dont waste their time reaching out to customers who are not a good fit.With Bonfire Analytics, sales teams at digital health, medical device, biotech, and pharma companies can gain valuable insights at the provider, plan, or geographic level on population health trends and claims patterns. Given Jayas extensive background in AI/ML and connecting disparate datasets along with Vinays previous healthtech sales experience where he saw firsthand how the lack of data & insights led to bottlenecks in provider sales, the pair are uniquely qualified to take on this challenge.In a time where were seeing a proliferation of healthtech solutions in the market to address various disease states, reduce healthcare costs, and drive better patient outcomes, were excited to be the insights platform that powers the commercialization of these solutions, says co-founder & CEO Vinay Nagaraj. As we continue to build, were immensely grateful for our investors, advisors, and community of supporters who share our vision.Bonfire Analytics is a venture-backed startup that provides healthtech companies (eg. digital health, medical device, biotech) with the precise AI-driven lead scoring and claims-based targeting to know which providers are most likely to buy, all before the first contact.For more information, follow us on LinkedIn and visit us online at www.bonfireanalytics.com.