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HBox raises $2.1M to transform virtual healthcare

Updated: Apr 24

HBox raises $2.1M to transform healthcare with its integrated virtual-first care platform

When done right, virtual-first care benefits both patients and clinicians, creating better patient experiences while improving workflows within clinics and hospitals. It’s patient-centric and problem-oriented, and that’s starkly different from the telehealth experiences that are standard for most virtual healthcare today.

The pandemic caused a seismic shift in the need for virtual in-home healthcare — HBox, founded in 2021, quickly stepped up to meet this demand and solve a tough problem with their easy-to-use, HIPAA-compliant platform that elevates virtual patient care.

The U.S.-based startup is led by an experienced 5-founder team with unique expertise in digital health and wearable technology. They share a mutual goal to virtualize and improve in-home healthcare.

HBox showed incredible growth over the last year by doubling its customer base and increasing revenue more than 300%. The company’s momentum continues following the recent announcement of a new partnership with The Heart and Vascular Institute, a top-ranked cardiac and vascular care center in Michigan.

HBox has raised $2.1M in a mix of equity and debt financing. In April 2022, HBox raised a $700,000 seed funding round, led by Arali Ventures; another $1M in equity and debt in August of 2022, and, most recently, $400,000 in non-dilutive financing from Lighter Capital in early 2023.

Blending venture capital and revenue-based financing to extend their runway and scale quickly, the company plans to use their capital investments to purchase additional inventory of customer tablets, which then will enable HBox to engage in new relationships with healthcare providers across the country that are looking to improve patient outcomes with virtual solutions.

Tablets deliver an optimized at-home patient experience in a simple one-window UI and connect easily to integrated medical devices — they’re a critical component of The HBox Health Pod, which enables a higher level of virtual care.

"We have been highly capital-efficient in building HBox, which has led us to achieve minimal equity dilution and establish a sustainable and profitable growth company. We are thrilled to partner with Lighter Capital, as they share our vision of creating a sustainable growth-focused company.— BanuPrasad Dhanakoti, Founder and CEO

We are thrilled that HBox is now a part of Lighter Capital’s portfolio and look forward to seeing how their innovations will transform healthcare in the future.

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