- Healthcare experiences are often complex and impersonal, frustrating consumers and ultimately impacting long term health outcomes
- Personalization can give consumers the information they need with relevant, appropriate actions that have a positive impact on clinical engagement
- Personalized AI-based consumer experiences are all around us; however it’s complex and expensive to safely bring these experiences to healthcare today
- RadiantGraph accelerates the ability to activate AI strategies and bring new ideas, experiments, and clinical interventions to consumers
SAN FRANCISCO, Oct. 25, 2023 — RadiantGraph, a platform using machine learning and artificial intelligence to drive consumer engagement for health plans, today announced its launch today after raising $5 million in Seed funding in a round led by True Ventures and XYZ Ventures, with participation from Remus Capital. This investment in RadiantGraph will be used to accelerate growth, which includes partnering with new healthcare organizations, and advancing their enterprise health and health plan product offerings.
Healthcare costs continue to rise, with a projected increase of 7% in 2024, but consumer engagement with healthcare is still low. Engagement is critical because it leads to better health outcomes and a better overall experience for consumers. One example where engagement is necessary is the management of chronic conditions, one of the largest drivers of healthcare cost and something that requires patient activation and collaboration to be successful. Missed opportunities like these leave health plans and healthcare companies scrambling to engage members and promote healthy behaviors.
RadiantGraph uses machine learning (ML) and artificial intelligence (AI) to translate data, including medical claims, medication history, and biometric data, to create tailored consumer healthcare experiences that reach consumers where they are. This results in more effective communication, higher patient satisfaction, and improved healthcare outcomes.
“We are firm believers in what the RadiantGraph team is building. Growth scale healthcare companies, as well as health plans, benefit from better population targeting that leverages data and AI,” said Yusuf Sherwani, Co-Founder and CEO of Pelago. “RadiantGraph is generating direct cost savings and ROI for Pelago; and they’re helping us bring new clinical growth and interventions to our members faster.”
Health plans, Providers, and Enterprise Health companies often lack the resources and expertise needed to deploy proprietary ML and AI models to reach their consumers effectively. Data science teams can spend 50-80% of their time ingesting, detangling, enriching, and managing incomplete healthcare data. RadiantGraph’s platform approach begins generating usable insights in weeks versus the years it would take a company to build a platform from the ground up. This can save companies millions in capital investment and critically accelerate timelines to deploy models and deliver outcomes. This type of personalized communication can reduce acquisition costs by up to 50% and increase revenue 5-15%.
“There are many platform approaches that aim to improve health outcomes but miss the mark when it comes to engaging directly with patients,” said Adam D’Augelli, partner at True Ventures. “RadiantGraph’s approach prompts companies to digest often overlooked data to empower patients. There’s a big opportunity to uplevel a patient’s role in their own care management, and that will result in not only better health outcomes but greater cost effectiveness in our healthcare system at large.”
The RadiantGraph team are pioneers in the field, with decades of experience in applying data science, AI, and ML to healthcare challenges. This arms them with an understanding of the difficulties that building a system from the ground up can bring. RadiantGraph allows customers to accelerate their offerings, while reducing risk and cost compared to building out and employing their own data science team.
“RadiantGraph addresses a problem I’ve worked to solve time and time again – companies building AI systems from the ground up in an effort to transform data into better consumer experiences. It’s simply inefficient,” said Anmol Madan, founder and CEO of RadiantGraph. “RadiantGraph can drive direct impact on outcomes and help healthcare companies apply AI to drive personalized experiences and keep up with the rapid evolution of AI technology underway. This removes the friction that healthcare companies experience when trying to engage with consumers; and outpaces in-house and third-party options.”
RadiantGraph helps healthcare companies effectively deploy AI models in order to attract and engage consumers, meet clinical needs, and drive personalized care. These models are integrating RadiantGraph seamlessly into their product and marketing, with the ability to discover new patterns to drive conversions. Growth-stage clients see positive results after only several months of using RadiantGraph, including a savings in direct technical development expense.
About RadiantGraph
RadiantGraph is on a mission to make healthcare more accessible and easier for all of us as consumers. Our AI platform helps leading healthcare organizations build deeper and richer connections with their consumers, driving personalized engagement and clinical outcomes. Healthcare companies that leverage RadiantGraph are able to reduce data engineering spend while bringing in new ideas, experiments, and clinical interventions to consumers much faster.
About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $3.8 billion under management, True provides seed and Series A financing to entrepreneurs in some of today’s fastest growing markets. The True team believes creativity flourishes when founders are supported fully and empowered to pursue brave ideas. To that end, the True Platform offers programs that inspire professional and personal growth. To date, True has helped more than 350 companies launch and scale their businesses, creating over 85,000 jobs worldwide. To learn more, visit www.trueventures.com.
About XYZ Venture Capital
XYZ Venture Capital was founded in 2017 by Ross Fubini, focusing on early-stage enterprise, fintech, public sector, health, and climate technology. XYZ looks to back founders during formation who have uncovered a unique insight in their field and show immense velocity in execution. XYZ commits itself to working alongside founders as a thought partner to help unlock critical milestones like what to build and with whom, ascertain their initial customers and why, and connect them with the best people to raise subsequent funding to go faster.
SOURCE RadiantGraph, Inc
