Handl Health, a Culver City-based healthcare technology platform, has secured a $14.2 million Series A round led by Arthur Ventures. The funding will accelerate the rollout of Handl’s AI-powered healthcare intelligence platform that transforms how customers build, launch and monitor traditional and alternative health insurance.

Arthur Ventures led the funding round, which included follow-on investment from Syndra Capital Partners and another strategic investor from the ecosystem. Initial Handl investors Mucker Capital, Riverfront Ventures, Digital Health Venture Partners (DHVP) and Boutique Venture Partners increased their involvement.

“We had the fortune of good timing with legislation around healthcare transparency. There was no correlation between the cost and quality between providers, but huge variation in cost. For example, a colonoscopy could cost $350 or $3,500,” said Ahmed Marmoush, co-founder and chief executive officer. “We have built consumer-facing tools on top of the data to make cost comparisons, but we serve businesses by building systems for insurance brokers as well as third-party administrators.”

Marmoush founded the company with Chief Product Officer Ria Shah, who oversees operations and data science. The company participated in the Cedars-Sinai Accelerator program in 2023, which offers a grant and mentorship to companies focused on healthcare delivery and patient care.

Over the last 12 months, Handl Health’s revenue has increased by nearly 300%, driven by a desire for mid- and large-sized companies to combat hikes in healthcare premiums and expenses. More than 164.5 million people, or approximately 60% of U.S. citizens under retirement age, are covered by employer-sponsored plans.

“We have national data at a specific service level and monitor them as they change. When you start to layer different levers into a plan, such as virtual care, that’s where you can see an impact,” said Marmoush.

Information for this article was sourced from Handl Health.