Israeli digital heart disease management company Hello Heart has announced the completion of a $70 million financing round led by the Stripes private equity fund.
Hello Heart was founded in 2013 by CEO Maayan Cohen, Ziv Meltzer and Eran Keisar. The company has raised $138 million to date from investors including IVP, Maven Ventures, BlueRun Ventures, and Resolute Ventures. Founded in Israel, company's R&D center remains in the country although its marketing and sales operations are headquartered in the US. Hello Heart has 130 employees, about one third of them in Israel.
Hello Heart has annual revenue of tens of millions of dollars from its heart disease management system, which identifies high blood pressure, excessive cholesterol and other phenomena associated with heart disease. Initially marketing directly to consumers, the company now sells to insurance companies and employers.
Maayan Cohen discovered the need for digital medical management when he late husband Oren was suffering from a brain tumor and she was tasked with running around amassing documents and tests, tracking treatments, medicines and arranging surgery and trying to make sense of it all.
She recalls, "Doctors don't know how to help in the daily management of the disease because it's not their area of specialization. And people don't have the tools to understand what they need to do and they despair and there is a lot of nonsense going on. Somebody has to help them. To take clinical research and explain the operational significance from their point of view."
But that is not exactly what Hello Heart does. "We began with a very big task - to help people manage their health. Gradually we understood that we have to focus in order to understand more precisely our customer. We noticed that about half of our users began using the product in order to monitor their blood pressure and that seemed like the right market for us."
Published by Globes, Israel business news - en.globes.co.il - on May 2, 2022.
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