Bonfire Analytics is disrupting the healthcare industry by launching its AI-driven lead scoring platform powered by population health and claims based targeting. This platform has allowed the company to secure funding quickly and multiply sales efficiency for its customers.
The AI-driven sales intelligence platform enables healthtech companies (eg. digital health, medical device, and biotech companies) to sell much more effectively to healthcare providers (eg. physicians, physician groups, hospitals, etc) and health plans. By offering easy-to-understand lead scoring, Bonfire Analytics empowers sales leaders at mid-market & enterprise healthtech companies to quickly identify high-value sales territories and ensures sales reps won’t waste their time reaching out to customers who aren’t interested in buying.
With Bonfire Analytics, sales representatives can gain valuable insights at the provider, plan, or geographic level on population health trends and claims patterns. They can access this data directly within the Bonfire Analytics platform or via supported CRM integrations like Hubspot or Salesforce. The platform is completely HIPAA compliant, as the data is anonymized.
This platform comes at an opportune time. Healthtech is a new niche within the healthcare industry, but it has rapidly risen in value. In 2019, it was already worth $350 billion and is expected to increase given the increase in total healthcare spend, our rapidly aging population, and the advent of new digital tools, devices, and therapeutics that can drive better patient outcomes.
However, a major bottleneck for the industry is the inability to sell effectively into the healthcare provider and plan markets. Whether they are digital health, medical device, or biotech companies, healthtech has costly and inefficient sales processes that often stem from a lack of market data & prospecting tools. To solve for this, founders Vinay Nagaraj and Jaya Pokuri - who met in college at Duke University as fellow engineers - decided to utilize advances in AI and data analytics to create an innovative and meaningful solution that ultimately serves to accelerate the adoption of life-saving healthtech products to benefit the patients that need them the most.
Vinay Nagaraj, who is now CEO of Bonfire Analytics, first noticed that healthtech companies constantly face uphill sales battles from his prior years of sales experience. As the first growth hire at a healthtech startup, Vinay helped grow revenue 30x from $100K to $3M+, though was frequently frustrated by the lack of sales enablement and intelligence tools in healthcare. In parallel, Jaya Pokuri — the CTO of Bonfire Analytics — had worked at several early-stage and multi-billion dollar tech companies as a data scientist building out AI/ML infrastructure and developing an expertise in predictive lead scoring. When both Vinay and Jaya reconnected during COVID, their shared vision and complementary domain knowledge in healthcare and data led to the creation of Bonfire Analytics.
Having already landed several paying customers, and secured funding from VCs, Bonfire Analytics is on track to generate millions in revenue within the next few years and transform how companies sell into healthcare.
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