New York-based healthtech startup, Bonfire Analytics, has just become venture-backed as they close a pre-seed round with one million in investment. The company was recently founded in 2022 and has achieved tangible success for both itself and its clients.
Bonfire Analytics is a company that enables digital health, medical device, and biotech organizations to identify qualified leads through machine learning and analytics. By knowing which providers match ideal customers from the start, sales teams can triple sales efficiency.
The practice of ‘spraying and praying’ or sending thousands of emails to prospective clients and hoping for a response is no longer needed with Bonfire Analytics. The company’s proprietary platform leverages millions of data points involving demographics, disease prevalence, social risk factors, and claims information to equip sales representatives with the most accurate lead scores.
Utilizing Bonfire Analytics’ insights is much simpler than working with competing products since the platform is specifically designed to assist healthtech sales teams. Lead scores and claims-based targeting can also be accessed directly through commonly used CRMs since Bonfire Analytics has built-in integrations.
Funding within healthtech can be difficult due to the competitiveness of the industry. However, Bonfire Analytics was able to secure capital with the help of two experienced investors that understood the vision of the company. Bonfire Analytics plans to open its seed round within the next few weeks. The team expects its previous investment to be doubled during this time.
Bonfire Analytics has emerged as a disruptor within healthtech because of its novel solutions, acclaimed advisors, and its experience at a leading startup accelerator.
With its funding, Bonfire Analytics plans to perfect the product experience and acquire high value data sets that will make their predictions more accurate. The team will soon hire customer success, sales representatives, and data engineers to widen support the growing demand the company is encountering. The overall goal of Bonfire Analytics is to create a product that eliminates customer problems and fits the market needs.
Bonfire Analytics was founded by Vinay Nagaraj and Jaya Pokuri in 2022 to resolve the inefficient process of lead generation in healthtech. Vinay was inspired to create the company because of his personal experience working in healthtech. He shared this idea with his close friend Jaya because he specialized in data science, which would be the key to unlocking an optimized sales pipeline for any company in the industry.
SOURCE: GlobeNewswire