In Revenue Capital, the first operator-immersive venture capital firm, announced its participation in a $3 million funding round for Helia Care, alongside Habanero Ventures. The round caps off a record growth year for Helia’s revolutionary network for bill-only medical device procurement within health systems, suppliers, and distributors. With this investment, Helia plans to continue expanding adoption across health systems and suppliers as healthcare organizations face increasing pressure to control costs while maintaining clinical efficiency.
Helia is an AI-enabled procurement platform initially deployed for bill-only transactions, which occur when hospitals must order critical, high-cost medical devices and supplies at the time of surgery or treatment rather than rely on existing inventory. Industry reporting shows that 50% of hospital supply chain spending occurs via bill-only transactions, which accounts for 60% of net patient revenues, further underscoring the criticality of this traditionally manual and error-prone process.
“For us, this investment was driven by more than growth; it was driven by results,” said Justin Gray, co-founder and managing partner of In Revenue Capital. “Helia saves hospitals an average of $1.85 million per location, turning its strategic vision into clear, measurable savings. The company has spent years building a true two-sided network that includes the world’s leading medical device suppliers. With the supplier ecosystem now in place, health systems and suppliers are seeing immediate value and expanding adoption across their organizations. The business fundamentals are very strong.”
Helia’s platform aligns clinical ordering with existing supplier contracts, reducing errors, off-contract purchasing, and pricing discrepancies that contribute to fraud, waste, and abuse. Because the software is embedded directly into hospital workflows, the financial impact is immediate and ongoing, making the solution incredibly scalable once deployed.
“The hardest part of building a true healthcare network is earning trust on both sides,” said Grant Siders, founder and chief executive officer of Helia Care. “By aligning clinical workflows with contracted supplier economics, we’ve created a platform where hospitals, suppliers, and distributors all win, and where expansion becomes a natural byproduct of delivered value.”
In Revenue Capital’s decision to participate in the round reflects its broader investment approach of backing companies that prove disciplined execution along with efficient operations, making them truly unique in an era where AI value is often fuzzy at best. After building strong fundamental technology, validating hospital workflows and needs, and converting early deployments into systemwide adoption, Helia represents the type of proven-value profile the firm looks for when pairing capital with the inherent power of embedded go-to-market support.
“What stood out to us is that Helia is not just solving a technical problem; it is solving an execution problem that hospitals and suppliers deal with every day,” said Craig Coppola, founder and manager, Habanero Ventures. “The team has built the supplier relationships, proven adoption across real health systems, and demonstrated measurable savings, which is exactly what you want to see before scaling go-to-market in a category this complex.”
Unlike traditional bill-only management approaches that rely on services offerings or business process outsourcing, Helia delivers this capability through software and a true two-sided network. This allows hospitals and major suppliers to operate on a shared platform built specifically for high-cost, time-sensitive medical device procurement, introducing a new model for managing one of the most complex segments of healthcare purchasing.
