Medorion, an Israel-based developer of behavioural intelligence SaaS solutions for health insurers, has secured US$ 6 million in a Series A investment round led by 10D on 7 July 2021.
Investors: The Series A investment round featured 10D as the lead investor with participation from existing investors iAngels and TAU Ventures. The startup has, in total, raised US$ 9 million to date.
Purpose of the funding: The proceeds from the investment round will be deployed to recruit fresh talent, generate demand for the startups’ behavioural intelligence SaaS platform across U.S. insurers, speed the growth of the latest risk adjustment and member experience services. It also intends to expand its operations to other government markets.
About Medorion
Founded in 2017 by Asaf Kleinbort, Eviatar Khen and Shai Levi, Medorion offers an AI-powered SaaS platform that analyzes claims and social determinants of health (SDOH) data to highlight the primary emotional, environmental, and financial catalysts and restrictions influencing people’s health decisions. Medorion enables insurers to comprehend members’ requirements and individualize face-to-face conversations. This aids in facilitating effective intercourse, which in turn enhances health delivery and financial results. Its tech amalgamates behavioural psychology and artificial intelligence to construct an exceptional Electronic Behavioral Record (EBR™), which is psychologically identical to electronic health records (EHR) for the individual health scheme member. The platform comprises a range of medical, risk adjustment, working cost, and advertising applications to stimulate productive personalized interaction.
What the Founder has to say: “Medical schemes can enhance the individual experience and keenness to accept care and treatment by supporting insurance-takers with systematic automatized equipment which assist in qualitative and individualized interactions. This stimulates improved healthcare distribution.”- Asaf Kleinbort, Co-Founder and CEO of Medorion.
What the Investors have to say: “Medorion’s unique AI-powered software catering towards health behaviour intelligence has resulted in making them an attractive option for investing. Its potential to portray value and ROI with leading insurance-takers, combined with the rising market demand, has been impressive.”- Itay Rand, Partner at 10D. “Health plan triumph and advancement can be prompted by performance parameters in few aspects, encompassing level of care and customer service. Medorion has showcased the potential to influence these critical parameters and increase star count for insurers, leading to better patient results and economic gains. We are happy to support Medorion again since it affects the health domain significantly.”- Nimrod Cohen, Managing Partner of TAU Ventures.
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