Fold Health Bags $6 Mn Investment To Help Professionals Integrate Electronic Health Records

Healthtech startup Fold Health has raised $6 Mn funding in a round led by Iron Pillar. The round also saw participation from Iora Health’s Dr. Rushika Fernandopulle, National Quality Forum’s Dr. Christine Cassel, Aetna’s Dr. Molly Coye, Cigna’s Sridhar Krishnan, and Perot Jain’s Anurag Jain.

Founded in 2021 by Abhijeet Gupta and Ram Sahasranam, Fold Health allows medical workers to integrate electronic health records and use software tools to automate tasks.

Fold Health aims to use the freshly raised funds for scaling business and hiring talent.

An Economic Times report quoted founder Gupta saying, “We have got nine customers with about 15,000 lives among them. This year, we should be at 10X or more of that in the next 12 months.”

Further commenting on the expertise of the founders, Mohanjit Jolly, partner at Iron Pillar, said, “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.”

The San Francisco-based startup has recently opened its research and development office in Pune which employs 40 people and is aiming to rapidly expand its employee count in the US office which employs nine employees currently. 

The new fund takes the overall capital raised by the startup to $12 Mn, as it raised $6 Mn earlier. 

Healthtech and its services have been redefined since the pandemic and the impact seemingly continues to prevail. 

Recently, healthtech startup HealthifyMe raised $30 Mn in its pre-Series D funding round to strengthen its AI capabilities, hiring, and global expansion. 

Earlier in March this year, SaaS healthtech startup HealthPlix raised $22 Mn in its Series C funding round to grow its doctor base and invest more in sales, product and engineering teams.