Press Release: GYANT Closes $13.6 Million Series A Funding Round Led by Wing Venture Capital
Investment will enable GYANT to scale up its product development to meet rapidly increasing market demand and support its exponential customer growth
San Francisco, CA, July 15, 2020 – GYANT, the care navigation company, today announced the close of a $13.6 million Series A financing round led by Wing Venture Capital. Wing VC is joined by Intermountain Ventures and existing investors Grazia Equity, Alpana Ventures, Techstars Ventures and Plug and Play Ventures.
Demand for GYANT’s 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, GYANT’s financing follows a period of remarkable growth, having expanded from 3 customers in July 2019 to 24 customers in July 2020.
The financing will enable GYANT to continue providing best in class support and services for its fast-growing and high-profile customer base, including Intermountain Healthcare and Geisinger. In addition, GYANT 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 Stefan Behrens, co-founder and chief executive officer, GYANT. “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 GYANT to continue growing and realize our vision of personalized patient experiences with digital navigation to the right, best possible care.”
Patient 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. GYANT’s technology keeps health systems ahead of these demands while lowering operational costs.
“Healthcare is primed to benefit from cutting-edge digital health technology. GYANT rises to the challenge, delivering a platform that bends cost curves for health systems while improving provider and patient experiences,” said Gaurav Garg, founding partner, Wing VC. “The phenomenal utilization and impact GYANT had in automating healthcare interactions during the pandemic speaks to the effectiveness of its platform and the multi-disciplinary team’s strength.”
“Intermountain Healthcare partnered with GYANT for screening and care navigation in the height of COVID-19 – and the results speak for themselves,” said Mike Phillips, MD, managing director and partner, Intermountain Ventures. “Using GYANT led to a 30 percent decrease in call center volume, alleviating hospital capacity constraints and improving patient engagement. Our first-hand experience with GYANT and the value its market leading care navigation solution delivers drove our decision to invest.”
For more information on GYANT’s innovative technology and healthcare solutions, visit gyant.com.
GYANT, the care navigation company, has built the leading virtual front door to help health systems improve care utilization, cut cost through automation and improve patient experience. GYANT’s Front Door appears on a hospital system’s website or mobile app to chat with patients and guide them to the care and digital health tools they need, 24-7. GYANT is customizable to any organization’s branding, EHR, digital tools and clinical endpoints. GYANT ties together all of the digital tools a health system needs in a single interface, creating a seamless patient experience — increasing engagement, trust and loyalty at each stage of the healthcare journey. GYANT’s unique combination of deep intelligence, physician oversight and a human-driven, empathetic approach allows health systems to solve for traditional complex care issues, ensuring that patients receive the right care, anytime and anywhere.
About Wing Venture Capital
Founded in 2013, Wing VC works with ambitious founders to enable the Modern Enterprise, an agile workplace built on data and powered by AI. Wing invests early, before it’s obvious, leading Seed and Series A financings in transformative enterprise technology companies. Wing engages deeply with founders to help lay the foundation for long-term greatness through signature company-building skills and resources. The body of work of Wing’s award-winning team spans more than two decades and dozens of successful early-stage companies, twenty-one of which have gone on to achieve billion-dollar-plus outcomes following IPOs or acquisitions. Recent exits include Shape Security’s acquisition by F5 and ThousandEyes’ acquisition by Cisco. The current Wing private portfolio includes some of today’s most important enterprise technology companies such as Snowflake, Cohesity and Gong.