Participated · Series B · Jun 2023

Helium Health provides a core EMR and hospital-management product (HeliumOS), a telemedicine/revenue-cycle product (HeliumDoc) and an embedded finance product (HeliumCredit) that leverages operational data to underwrite loans. The company says HeliumOS is used across more than 1,000 facilities by over 10,000 health workers to care for more than 1 million patients, and the team of about 150 operates in eight countries. HeliumCredit, launched in 2020, has grown lending from $250,000 to over $3.5 million across 200+ facilities and is used to finance equipment, inventory and expansions. Helium Health has received grant funding from the Bill & Melinda Gates Foundation and MSD for Mothers to support maternal health projects. The startup plans to roll out HeliumOS in GCC markets and expand HeliumDoc in East Africa while concentrating new capital on expanding HeliumCredit. Helium Health provides a suite of products that digitize data, formalize monetization and enable telemedicine for hospitals and health systems in Nigeria, Liberia and Ghana. Its offerings include administrative tools, electronic medical records, financial management, digital payment and credit products for hospitals and insurers, plus developer resources. The company recently launched the MyHelium Patient app to facilitate appointments and information sharing and rapidly rolled out a telemedicine platform that onboarded roughly 360 hospitals in three weeks and generated thousands of online visits. Helium generates revenues by charging percentages and fees on its products, services and transactions; the CEO says the startup is profitable and generates revenues in the millions of dollars. Founded in 2016 and based in Lagos, the team says it has declined acquisition offers and aims to scale independently. It plans to use new funding to hire and expand into North and East Africa, including Kenya, Rwanda, Uganda and Morocco. Helium Health builds holistic hospital management software to digitize hospital operations and patient records, reduce wait times, and improve patient confidence. The company uses a customized subscription model where hospitals buy credits (one credit = one patient for 365 days) and often subsidizes hardware purchases for clients. Since piloting in 2016 it has deployed its system across West Africa, with client counts reported above 60–70 hospitals and teams in multiple cities and countries. The startup has grown its headcount to over 60 employees and has invested funding into product development, sales/marketing, and hiring. Its commercial traction includes deals with state governments (Akwa Ibom) and deployments across Lagos, Akwa Ibom, Abuja and Liberia. Financially, the company raised early prize funding and accelerator capital and has raised in excess of $2 million within its first two years of operations.