Bonfire Analytics, a startup offering AI-driven lead scoring and claims-based targeting, has closed its pre-seed funding round.
New York-based healthtech startup, Bonfire Analytics, has just become venture-backed as they close a pre-seed round. 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 maximize their 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.
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Utilizing Bonfire Analytics’ insights is much simpler than working with competing products since the platform is specifically designed to assist healthtech sales teams selling to providers & plans. 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 funding and has emerged as a disruptor within healthtech because of its novel solutions, acclaimed advisors, and its experience at a leading startup accelerator.
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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 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 had felt inspired to solve this problem because of his personal experience working in healthtech and joined forces 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.
“Current sales tools are failing to optimize efficiency especially in healthcare, which is causing representatives to feel frustrated and unmotivated. This problem is present in every sector of healthcare because the lead generation process is extremely expensive, time consuming, and ultimately cumbersome. With Bonfire Analytics, our proprietary technology ensures that sales teams have access to the most accurate and valuable leads, which helps companies grow and exceed their revenue goals rapidly,” says co-founder and CEO Vinay Nagaraj.