Predictive analytics and machine learning company Univfy has closed a $6m Series A funding round led by Rethink Impact.
As part of the transaction, Rethink Impact partner Heidi Patel will join the company’s board of directors.
The platform, which launched in 2009, applies machine learning, AI, and FinTech to help couples make IVF treatment more accessible and affordable. The B2B platform predicts IVF success rates, which enables fertility centres to offer personalised prognostic reports and a customised financing and refund warranty program.
Through the refund program, consumers can get verification for refunding, as well as improving the chance of successfully receiving these funds back.
This capital will be used by the company to support expanding the use of its solution in the US, and forming new partnerships with IVF centres. Equity will also be used to hire more talent across both its data science and product teams, and its client services experts.
Rethink Impact partner Heidi Patel said, “We firmly believe that Univfy is poised to transform and dramatically expand the IVF space. Rethink Impact seeks to partner with innovative companies building novel solutions that address critical problems and inefficiencies in healthcare through the use of technology and meaningful data.”
There have been a couple of other FinTech solutions for the healthcare sector to complete deals this year. Last week, healthcare revenue management company MEDTranDirect was acquired by Mediware Information Systems, while SpendMend, which is a spend visibility and audit recovery for healthcare providers, nabbed funding from Sheridan Capital Partners.
Last year, Rethink led the $36.8m financing round in to female-focused investment platform Ellevest. The company offers women a personal finance platform where they can build up goal-based investment portfolio.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
