H1Ribbon, a healthcare data analytics platform that serves the pharmaceutical industry with data for more than 10 million healthcare professionals, has acquired Ribbon, a startup that helps patients find doctors covered by their insurance.
Financial terms of the deal were not disclosed. The last time Ribbon – founded in 2016 by a Y Combinator alum – raised money was in 2021. $43.5 million The value of Series B is 283.5 million dollars. PitchBook data.
Many startups that haven't secured funding in more than three years have become acquisition targets. Facing imminent closure.. But H1 co-founder and CEO Arial Katz told TechCrunch that Ribbon is “not a failing company.” H1 is offering a combination of stock and cash to acquire Ribbon, which he added is “more than tens of millions in revenue.”
Bond is Andreessen Horowitz; It raised a total of $55 million from investors including General Catalyst and Rock Health.
For its part, H1 fetched around $200 million and was the final value. $773 million by 2022. PitchBook notes that it also raised an undisclosed amount in 2024.
Katz told TechCrunch that H1 has been looking forward to integrating with Ribbon for years. The two companies collect similar data but serve different sets of customers, he said.
“I've been trying to buy Ribbon for three years,” Katz said, adding that there were a lot of synergies because the two companies were collecting similar data.
The ribbon is the skill of the doctors; Serves patients by providing detailed information on cost and quality. Ribbon's data is purchased by healthcare navigation companies. Break through and available through health insurance sites for patients after Rightway. H1 often works with other companies in the pharmaceutical and healthcare industries, providing data and other insights to help them in the meantime.
Ribbon isn't a fire sale, though. We will see many startups this year struggling to raise follow-on funding and reach the end of their runways. If not shut down completely, they will become acquisition targets.