Plenful, a startup specializing in developing workflow automation tools for healthcare providers, has recently secured $9 million in a funding round led by Bessemer Venture Partners. The funding will be used to expand Plenful’s platform, grow their team, and scale their customer base.
Key Takeaway
Plenful, a healthcare workflow automation startup, has raised $9 million in funding to develop their platform and address burnout in the industry. By automating administrative tasks, Plenful allows healthcare providers to focus on more critical activities and combat employee burnout. With a strong position in the market and a focus on scalable solutions, Plenful aims to make a significant impact in the healthcare sector.
Addressing Burnout in the Healthcare Industry
According to CEO Joy Liu, the healthcare industry is currently facing technician burnout and high turnover rates due to the overwhelming workload and administrative tasks. Plenful aims to alleviate these challenges by automating administrative work and freeing up time for technicians and care teams to focus on more critical activities.
Liu, who previously worked as a health system specialty pharmacy operator, experienced firsthand the manual and time-consuming nature of pharmaceutical workflows. Plenful’s platform is designed to sit on top of a health system’s existing data sources, automating manual data entry and validation to prevent errors and provide actionable insights for clinical decision-making.
Benefits of Plenful’s Workflow Automation
Plenful’s customers utilize the platform for automating document data entry, onboarding and referring prescription orders, auditing, and identifying potential cost savings, among other use cases. By automating these tasks, Plenful allows pharmaceutical technicians to focus on more meaningful and human-centered processes, keeping pharmacies compliant and combating employee burnout.
Strong Position in the Market
While Plenful faces competition from other automation startups in the healthcare industry, Liu believes that their platform’s strength lies in its healthcare-centric, no-code, and highly configurable workflow automation solutions. Additionally, Plenful’s architecture reduces the implementation and maintenance burden on IT and engineering teams, setting them apart from their competitors.
Founded during the pandemic, Plenful is well-positioned to meet the urgent needs arising from COVID-19. The company’s rapid growth is driven by the industry’s increased interest in AI, rising healthcare spending, and persistent labor shortages. With a solid financial runway and a focus on scaling through proven use-cases, Plenful aims to expand its customer base and continue making a positive impact in the healthcare industry.
