Fundraising Fox

Handl Health

Techstars '23

Cerritos, US · Founded 2022 · Delaware corporation · 9 known investors

Handl Health is an AI platform that aggregates publicly available healthcare pricing data to help insurance brokers and benefits consultants optimize health plans and identify cost savings opportunities. The company serves benefits consultants and employers seeking transparency in healthcare pricing.

Also known as Handl · Handl Health Inc.

Founders & leadership

Handl Health was founded in 2022 by Ria, Aishwaria Shah, and Ahmed Marmoush.

RRia
RiainFounder
AS
Aishwaria ShahCo-founder
AMAhmed Marmoush
Ahmed MarmoushinCo-founder

Board

RKRyan Kruizenga
Ryan Kruizengain𝕏Board directorGeneral Partner at Arthur Ventures

Investors · 9

Also in the syndicate · 2

Digital Health Venture PartnersSyndra Capital Partners

Reported raises · per SEC filings

Form D private placements

$15.7M disclosed across 3 rounds · 2022–2025

$14.2MraisedJan 2026 · 23 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Ryan KruizengaDirector
  • Aishwaria ShahExecutive Officer, Director, Promoter
  • Ahmed MarmoushExecutive Officer, Director, Promoter
Offering amount
$14.2M
Amount sold
$14.2M
Proceeds to insiders
$520K
First sale
Dec 2025
Incorporated
Corporation, Delaware, 2022
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$1.4MraisedDec 2023 · 3 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Aishwaria ShahDirector, Executive Officer
  • Ahmed MarmoushDirector, Executive Officer
  • Karthik PalaniappanExecutive Officer
Offering amount
$2.5M
Amount sold
$1.4M
Proceeds to insiders
$350K
First sale
Nov 2023
Incorporated
Corporation, Delaware, 2022
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$120KraisedDec 2022 · 2 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Ahmed MarmoushExecutive Officer, Director
  • Aishwaria ShahDirector
Offering amount
$120K
Amount sold
$120K
Proceeds to insiders
$22.3K
First sale
Nov 2022
Incorporated
Corporation, Delaware, 2022
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Handl Health operates a software platform that unifies healthcare pricing, utilization, benefit and quality data into a single analytical and operational layer used to evaluate, design and manage employer-sponsored health plans. Its core data comes from publicly disclosed files mandated by U.S. Hospital Price Transparency and Transparency in Coverage rules — negotiated payer-provider rates, gross charges and cash prices — which the company combines with claims data, Medicare rates and provider quality measures.

The product set spans four areas: plan intelligence (network and provider-level rate benchmarking against plan, carrier and provider benchmarks, with scenario modeling, cost projections and network adequacy analysis); member intelligence (a member app plus custom provider tiering to steer members toward higher-quality, lower-cost providers); AI-led insights that convert pricing and plan analytics into specific switch-or-stay recommendations; and client deliverables, including presentation-ready savings and fiduciary reports that can be white-labeled. The platform also supports ongoing claims reconciliation and monthly network performance monitoring, flagging overpayments and contract compliance gaps. Users can upload a census or claims file to obtain benchmarks across more than 150 networks and over 6,000 hospitals.

The company positions itself around alternative health plan design — including variable copay plans that payers and TPAs can activate on their own networks — arguing that plan builders need provider-level cost and quality performance data rather than a simple carrier or network choice.

Founding story

Co-founders Ahmed Marmoush (CEO) and Ria Shah (Chief Product Officer) founded Handl Health in 2022 after being awarded a grant from the National Institute of Health, motivated by their experience of the U.S. healthcare system. Marmoush has described the company's timing as coinciding with healthcare transparency legislation, noting large cost variation without corresponding quality variation between providers — for example a colonoscopy priced at $350 or $3,500.

Business model

Handl Health provides an AI-driven, SaaS-based platform sold to businesses in the employer-sponsored insurance value chain: insurance brokers and benefits consultants, employers/plan sponsors, and carriers and third-party administrators. Reports can be white-labeled by consultants for presentation to their own clients, and the platform is designed to integrate with existing TPA or carrier systems.

Software platform sold to benefits consultants, employers, carriers and TPAs; company-reported revenue growth of nearly 300% over the 12 months preceding February 2026.

Traction

Company-reported figures: more than $1 billion in self-funded medical costs analyzed in 2025; a reported $113 million in savings identified across nearly $1 billion in healthcare spend over two years (the website cites $112 million in network and plan-design savings); 22% average savings on shoppable procedures for members of Handl-powered alternative health plans; 53% adoption of top-rated providers; and revenue growth of nearly 300% over the 12 months to February 2026. Benchmarking coverage spans 150+ networks and 6,000+ hospitals. Named customers/testimonials include Avant Health (a third-party administrator) and unnamed national brokerages and benefits brokers.

Latest developments

In February 2026 Handl Health announced a $14.2 million Series A led by Arthur Ventures, with follow-on investment from Syndra Capital Partners and increased participation from earlier investors Mucker Capital, Riverfront Ventures, Digital Health Venture Partners and Boutique Venture Partners; proceeds are earmarked for platform expansion, deeper plan analytics and development efforts. Arthur Ventures vice president Nick Goblisch joined the announcement as a supporting investor voice. The company is also hiring and promoting a Transparency in Coverage data webinar.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Handl Health positions itself as infrastructure for the next generation of alternative health plan design and network analytics, competing on the depth of transparency-derived rate data and the linkage from analytics to plan deployment and member steerage. Its lead investor characterizes AI and price transparency data as redefining how health plans are designed and managed.

Differentiation claims center on combining public price transparency files with claims, Medicare and quality data into one dataset independent of a customer's incumbent payer; producing analyst-free, presentation-ready and white-labelable deliverables; and closing the loop from benchmarking through plan design, member-facing steerage and ongoing claims reconciliation rather than reporting alone.

Technology

The platform parses millions of payer and provider machine-readable pricing files published under U.S. price transparency legislation and blends them with claims, Medicare rate and provider quality data to build a service-level national pricing dataset that is monitored for change. On top of this dataset it runs benchmarking, plan-scenario modeling with cost projections, network adequacy analysis, provider tiering, claims repricing and reconciliation, and AI-generated recommendations, plus consumer-facing cost comparison tools.

Go-to-market

Direct enterprise sales with demo requests booked from the website, supported by presale tools for brokers pitching new business, educational webinars (for example a Transparency in Coverage data webinar), and presence at industry events such as the Crumdale Specialty broker summit in Miami. Distribution leverages brokers, carriers and TPAs as the decision points for employer health plans.

Benefits consultants and insurance brokers, self-funded employers and plan sponsors, and payers and third-party administrators. The company frames its addressable market as employer-sponsored insurance, which covers roughly 60% of U.S. citizens under retirement age (more than 164.5 million people).

Geography

United States-focused, addressing employer-sponsored plans nationally with service-level national pricing data. The company is described as Los Angeles-based, with Culver City cited as its base in one account; customer references appear in Atlanta, Georgia and Dallas, Texas.

History

Founded in 2022 following a National Institute of Health grant, the company participated in the Cedars-Sinai Accelerator program in 2023, which provides a grant and mentorship to companies focused on healthcare delivery and patient care. Over the two years preceding early 2026 it worked with employers on network strategy and benefits design, and in February 2026 it announced a $14.2 million Series A led by Arthur Ventures with follow-on from existing investors.

Risks & controversies

Key performance claims — savings identified, consumer cost reduction on shoppable procedures and revenue growth — are company-reported and described as such in coverage; one article notes its information was sourced from Handl Health. The business depends on the continued availability and quality of publicly mandated price transparency data.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Adoption of top-rated providersJan 202653%
Average savings on shoppable proceduresFeb 202622%
Hospitals covered for benchmarkingJan 20266,000 hospitals
Network and plan-design savings identifiedJan 2026$112M
Networks covered for benchmarkingJan 2026150 networks
Revenue growth, trailing 12 monthsFeb 2026300%
Savings identified for employer partners over two yearsFeb 2026$113M
Self-funded medical costs analyzedJan 2025$1B

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 3

launches, deals, and filings
Feb 2026
Handl Health announces $14.2M Series A led by Arthur Ventures

Handl Health announced a $14.2 million Series A led by Arthur Ventures, with follow-on investment from Syndra Capital Partners and increased participation from Mucker Capital, Riverfront Ventures, Digital Health Venture Partners and Boutique Venture Partners. Funds are intended for platform expansion, deeper plan analytics and development efforts.

$14.2M source ↗

Jan 2023
Participation in Cedars-Sinai Accelerator

Handl Health participated in the Cedars-Sinai Accelerator program in 2023, which provides a grant and mentorship to companies focused on healthcare delivery and patient care.

source ↗

Jan 2022
National Institute of Health grant precedes founding

Ahmed Marmoush and Ria Shah founded Handl Health in 2022 after being awarded a grant from the National Institute of Health.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
Handl HealthDelaware

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Handl Health do?
Handl Health is an AI platform that turns healthcare price transparency data into health plan design and benchmarking tools.
Who founded Handl Health?
Handl Health was founded by Ria, Aishwaria Shah, Ahmed Marmoush in 2022.
Who are Handl Health's investors?
Handl Health's investors include Arthur Ventures, Boutique Venture Partners, Everywhere Ventures, Tau Ventures, Techstars, Mucker Capital, Riverfront Ventures, LLC.
How much funding has Handl Health raised?
Handl Health has disclosed $15.7M raised across 3 rounds.
Where is Handl Health headquartered?
Handl Health is headquartered in Cerritos, US.