WASHINGTON, DISTRICT OF COLUMBIA, UNITED STATES, December 28, 2020 — 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.'
DHS is a high-stakes advocacy, public strategy, and global public relations and communications firm. Our strategic insights and innovative programming build and sustain strong corporate and brand reputations. We provide our clients with counsel and program development across the spectrum of public relations, public affairs, reputation and crisis management, digital strategy, advertising and other communications services. Our clients are companies, industry associations, nonprofit organizations, professional services firms, and other large organizations.
We began as a unique grassroots and lobbying firm with customized services for an elite group of clients. Our work applies equally to regulatory issues as well as legislative ones, and we manage issues for our clients at the local, state, federal, and international levels of government.
We use our core competencies and reach to gain competitive advantage for clients. Our expertise comes from extensive must-win campaign experience and operating successfully at the highest rung of business, government, politics and media. Our reach is the ability to use strategic intelligence to mobilize the message and persuade the toughest audiences. We know what it takes to win in difficult situations. We have proven results for prominent figures, leading advocacy groups and the world's most successful companies. We leverage what others cannot.
Harriet Sandberg, Vice President of Communications