Serif Health Receives Significant Growth Investment From SEVA

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Investment Will Enable Serif to Expand Customer Footprint and Data Platform

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Shalin Mehta, SEVA Founder and Managing Partner, to Join Serif’s Board of Directors

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SAN FRANCISCO — Serif Health (“Serif” or the “Company”), the leading provider of healthcare price transparency data and intelligence, today announced a significant minority investment from SEVA Growth LP (“SEVA”).

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The proceeds from the transaction will be used to accelerate Serif’s sales and growth initiatives, and its pipeline of new product functionality and data APIs.

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Shalin Mehta, SEVA Founder and Managing Partner, will also join Serif’s Board of Directors as part of the agreement. The investment was made through SEVA I LP and is the first outside institutional capital raised by Serif. The terms of the transaction were not disclosed.

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“Our clients have an acute need for individual rates, network strategy, and market intelligence. Since our launch in 2020, Serif has met this need through our intuitive data and intelligence platform,” said Rafiq Ahmed, Serif Health Co-Founder and CEO. “SEVA’s investment will allow us to expand the company’s footprint and product offerings to help our customers maintain a clear view on healthcare pricing. We are excited to partner with the SEVA team on the next stage of our growth.”

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Starting in 2021, federal regulators began requiring hospitals and payers to disclose negotiated rates for healthcare services to improve transparency around pricing. A lack of standardization, validation, and numerous errors rendered the information provided unusable for most purposes. Serif offers its clients an easy-to-use solution with its Signal platform.

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Each month, Serif cleans, validates, and standardizes the information provided by hundreds of payers, thousands of hospitals, and billions of rate records for its clients on its platform. Over the past three years, more than 250 organizations have relied on the data provided by Serif to benchmark, evaluate networks, and understand market dynamics with the most up-to-date healthcare pricing information in a format that they can actually use.

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Earlier this year, Serif took the next step in its development with the launch of Signal Ask – an artificial intelligence application that transforms Serif’s core offering into a scalable, deployment-ready enterprise solution. Signal Ask, the first step in Serif’s AI roadmap, allows users to query pricing data in plain language, without needing to know billing codes, data structures, or which dataset to search.

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“Serif has become the gold standard in healthcare pricing transparency and innovation by providing a critical platform that enables its blue-chip healthcare clients to make fully informed decisions,” said SEVA’s Shalin Mehta. “SEVA is excited to support Rafiq and his team as they continue to build upon Serif’s momentum.”

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ABOUT SERIF HEALTH

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Serif Health is the leading provider of healthcare price transparency data and intelligence powering rate search, analytics, and network intelligence for providers, payers, employers, and third-party administrators. Serif Health cleans, validates, and enhances hundreds of billions of healthcare reimbursement data points each month.

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Serif is based in San Francisco, California. For more information visit https://www.serifhealth.com/ABOUT SEVA SEVA is a growth equity firm exclusively focused on serving customer-centric founders building fast-growing, profitable, founder-led, internet, software, data, marketplace, and technology-enabled services companies.

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Contacts

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Media:

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August Strategic Communications

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Scott Deveau

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