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Along with the funding, Signifco also announced new additions to its executive team
As all of us have no doubt experienced at one time or another, the traditional healthcare system often treats people as numbers rather than as individuals with unique needs and potentials. That cookie cutter approach to care is limited, and doesn't serve the needs of the patients.
It was this realization that led Rick McCartney and Chris Koha to found Significo, a company dedicated to offering personalized health recommendations, which announced a $12 million Series A funding round earlier this week.
"Significo was born out of a desire to change the status quo and provide a more human and personalized approach to health. We understood that true well-being comes from nurturing not just the body, but also the mind and spirit," McCartney told VatorNews.
"Our team, many of whom have personal stories of the impact of a more human approach to health, came together to create a company that would make this vision a reality. We founded Significo to empower individuals to take control of their health, to inspire a proactive rather than reactive approach, and to make every person feel seen, heard, and valued in their healthcare journey."
Significo's tool integrates with existing ecosystems, drawing from various parameters, including health metrics, lifestyle, personal interests, and emotional well-being, to crafts personalized wellness advice, fostering active participation in one's health journey.
"We don't merely focus on physical health; we acknowledge the significance of mental and emotional well-being, providing recommendations for mindfulness, stress management, and fostering deeper relationships," said McCartney.
"In sum, Significo takes a distinct approach, treating healthcare as a personalized, proactive journey, not a standardized process. Leveraging technology and personalization, we enable individuals to take control of their health, nurture a culture of proactive care, and envision a future where health and humanity coalesce."
Significo's typical customers include employee engagement platforms, where employees receive personalized recommendations tailored to them and get access to simplified decision making. The benefit for the employer is that they receive better data insights, reduce HR workload, and increase higher satisfaction and retention rates.
The company also serves health insurance companies with a software platform, which receive personalized recommendations tailored to their individualized goals, faster decision-making ability by presenting relevant options for each individual, and increased user satisfaction. That personalized user experience can help increase customer loyalty and retention and a reduction in customer support costs, while data collection provides more insight into customer preferences and behaviors.
Currently, Signifco has several large healthcare and insurance customers in the US and Germany, and it has demonstrated a 9x increase in user engagement in people using a product that incorporates its personalized health recommendations versus those who have not.
The new funding round, which was led by Doug Blough, brings Signifco's total raised to $21 million; the company plans to use this funding to accelerate its revenue growth, and to improve its product management, marketing, and customer success capabilities.
"We have strong foundational customers and products and want to make sure we are taking good care of them and building infrastructure that enables us to grow while delivering excellent technology and customer experiences," McCartney explained.
Along with the funding, Signifco also announced new additions to its team, including Michael Robin as VP of Marketing. Prior to her role at Significo, she served as Marketing Leader for various organizations including MindBridge, Finastra, and Valkyrie Ai.
"Michael's focus at Significo is addressing the pertinent issues faced by marketing executives, particularly aligning marketing strategies with business value, a key aspect of our growth," McCartney said.
"Her innovative approach resonates with Significo's mission of personalized and effective healthcare solutions, and her leadership promises to steer our marketing endeavors to new heights. Michael's addition to the Significo team represents a significant step towards our continued growth and success in the personalized healthcare industry."
The company also brought on Gary Rust, a former Executive Vice President with experience across healthcare, SaaS, life sciences, and distribution, as Executive VP of Sales.
"Known for his knack for team building and driving operational efficiencies, Gary has a proven track record of fostering multimillion-dollar cost savings and bolstering profitable sales. His ability to align restructuring and reorganization strategies with corporate goals ensures we are on the path to realizing our vision," said McCartney.
Finally, Significo added Daniel Schuster, a financial analyst with experience in the global SaaS industry including Planful, as Director of Financial Planning and Analysis.
"Having served clients across various sectors such as software, manufacturing, and technology incubation, both public and non-public, Daniel brings a broad spectrum of industry knowledge to our team. As Daniel joins Significo, we look forward to leveraging his financial acumen to drive strategic decision-making and enhance our financial planning and analysis. His expertise will undoubtedly contribute to our continued growth in the personalized healthcare industry," McCartney said.
The ultimate goal for Significo is to become at the forefront of digital health by tackling health and wellness obstacles for the whole human, using skilled, innovative, and badass teams.
"In challenging the status quo, we're not just building a company, but reshaping the narrative of healthcare and fostering a community that embraces the humanity of health. We believe that every individual's journey is significant, and at Significo, we're committed to ensuring that healthcare recognizes and incorporates this individuality," McCartney said.
"We think the problems in health are too big to solve on our own, and we want to work with anyone else who is passionate about using technology to make healthcare human."
(Image source: significo.com)
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