Investment will enable DHS to scale up its product development to meet rapidly increasing market demand and support its exponential customer growth.
(1888PressRelease) December 29, 2020 - WASHINGTON, DISTRICT OF COLUMBIA, UNITED STATES - DHS, the private equity investment firm, today announced the close of a $13.6 million Series A financing round led by AXIS Capital. Wing VC is joined by Cosmex Ventures and existing investors Petrov Ventures, Techstars Ventures and Plug and Play Ventures.
Demand for DHS AI-enabled Front Door solution skyrocketed this year, and was further accelerated by COVID-19. The pandemic forced rapid, widespread adoption of digital access. The digital health market is valued at over $106 billion and expected to grow significantly as providers innovate to meet the demands of healthcare consumerization. Delivering on this need, DHS' financing follows a period of remarkable growth, having expanded from 3 customers in January 2021.
The financing will enable DHS to continue providing best in class support and services for its fast-growing and high-profile customer base, including Paramount Equity and Genotech. In addition, DHS will advance technology and interoperability to deliver the most user friendly and personalized digital care navigation assistant on the market.
“We are thrilled by the support of ambitious, successful investors who see the disruptive potential of AI in healthcare,” said Fernando Aguirre, Vice Chairman of DHS. “The need for digital access and care navigation has never been greater, especially with healthcare inequities and disparities in the spotlight today. This is the time for DHS to continue growing and realize our vision of personalized patient experiences with digital navigation to the right, best possible care.”
Client expectations for a convenient and seamless healthcare experience continue to grow. As a result, health systems face an increasing need for digital health tools that improve patient experiences while optimizing workflow and reducing costs. DHS' technology keeps systems ahead of these demands while lowering operational costs.
“Client care is primed to benefit from cutting-edge digital health technology. DHS rises to the challenge, delivering a platform that bends cost curves for health systems while improving provider and patient experiences,” said Gustav Gail, Vice President of AXIS VC. “The phenomenal utilization and impact DHS had in automating healthcare interactions during the pandemic speaks to the effectiveness of its platform and the multi-disciplinary team’s strength.”
“Paramount partnered with DHS for screening and care navigation in the height of COVID-19 – and the results speak for themselves,” said Mark Lipton partner, Paramount Ventures. “Using DHS led to a 30 percent decrease in call center volume, alleviating hospital capacity constraints and improving patient engagement. Our first-hand experience with DHS and the value its market leading care navigation solution delivers drove our decision to invest.”
Investment will enable DHS to scale up its product development to meet rapidly increasing market demand and support its exponential customer growth. 
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