HANDLE announced a fundraising round of $8.5 million in debt and equity investment led by Dallas-based Cypress Growth Capital. In addition to Cypress, the raise included new and existing investors from HANDLE’s prior seed funding round.
Prospect, KY - October 3, 2023 – HANDLE Global today announced a fundraising round of $8.5 million in debt and equity investment led by Dallas-based Cypress Growth Capital. In addition to Cypress, the raise included new and existing investors from HANDLE’s prior seed funding round.
HANDLE is a leading healthcare supply chain analytics and fulfillment solutions provider focused on improving data quality, enhancing transparency, and empowering strategic decision-making. The company is renowned for defining the capital cycle management category with its innovative Capital Cycle Management (CCM®) platform. This AI-driven software solution revolutionizes the capital equipment cycle, from planning to procurement, management, and disposition.
CCM® serves as the essential operating system and the capital “source of truth” for many of the world’s most progressive health systems. CCM® bridges the gap between existing capital point solutions, offering health systems a comprehensive, multi-year view of their fleet. It also provides a framework to customize, standardize, and manage capital requests in one simple, user-friendly system. This provides unprecedented transparency and alignment across business functions involved in every stage of the capital equipment lifecycle and allows health systems to optimize their ability to aggregate requests and more effectively engage with OEMs. The platform enhances customer data by leveraging insights from more than $15B in previously analyzed capital spend, allowing health systems to visualize their capital assets by product category, age, location, cost, and customized risk scores. Through CCM®, HANDLE has already helped leading health systems of all sizes spend up to 80% less time on capital budgeting and sourcing, resulting in millions of dollars of annual savings.
In addition to the CCM® platform, HANDLE Global offers its Marketplace, a connected commerce ecosystem that provides procurement and end-of-life options, including equipment renewal, asset trade-ins, and active stockpiling. HANDLE Global's solutions play a pivotal role in addressing critical challenges within the healthcare supply chain, leading to more efficient operations and cost savings for healthcare providers.
Cypress Growth Capital's investment will provide HANDLE Global with the necessary capital to bolster its go-to-market strategy, accelerating the deployment of CCM® to health systems worldwide. HANDLE maintains a customer-centric approach and is committed to providing existing and future customers with industry-leading intelligence and data insights. Furthermore, this investment will fuel HANDLE Global's product teams to enhance the CCM® platform, improving the customer experience and ensuring that healthcare supply chain, finance, clinical engineering, clinical teams, IT, and facilities/construction teams are connected and have access to the critical information they need to make informed decisions about capital asset planning and budgeting.
Speaking about the investment, Kyle Green, CEO of HANDLE Global, expressed enthusiasm: "Cypress Growth Capital's investment marks a significant milestone in our journey to transform the healthcare supply chain. Their operating experience and support will empower us to expand our reach, enhance our product offerings, and continue delivering exceptional value and service to our customers."
“We are excited to be able to provide HANDLE the right balance of equity and non-dilutive debt capital to fuel their growth,” said Cypress Managing Director and HANDLE board member Vik Thapar. “With this funding, HANDLE can fully realize the market potential of CCM®, delivering their proven hospital capital supply chain expertise to a segment of the healthcare market in need of innovative solutions,” added Thapar.
HANDLE is already hiring for multiple roles to support its rapid growth. Open jobs can be found here.
About HANDLE Global
HANDLE Global is a leading healthcare supply chain analytics and fulfillment solutions provider focused on improving data quality, enhancing transparency, and empowering strategic decision-making. The company designed the CCM® (Capital Cycle Management) platform, an AI-driven software solution that optimizes the entire capital cycle from planning to procurement, management, and disposition of capital equipment. Additionally, HANDLE’s Marketplace, which is connected to CCM®, provides procurement and end-of-life options, including equipment renewal, asset trade-ins, and active stockpiling. Learn more at: http://handleglobal.com.
About Cypress Growth Capital
For an entrepreneur considering growth funding, Cypress Growth Capital provides an innovative alternative to equity and traditional debt. Our firm invests in emerging companies using a royalty-based approach that preserves an entrepreneur's equity and control. With more than 50 investments in premier software and technology-enabled services companies since 2011, Cypress offers a flexible, patient form of debt capital that is well-suited to the unique financing needs of fast-growing companies.
In addition, as both a debt and equity investor, Cypress partners with entrepreneurs through multiple stages of growth, providing select equity capital alongside our non-dilutive royalty financing, allowing companies to access the funding they need now, but with far less dilution.
Providing more than just capital, our partners have extensive operating and entrepreneurial experience and bring useful, practical assistance to our portfolio companies. Learn more at: https://cypressgrowthcapital.com/.
For media inquiries, please contact:
Taylor Jackson
Director of Marketing, HANDLE Global
taylor.jackson@handleglobal.com
Vik Thapar
Managing Director, Cypress Growth Capital
vthapar@cypressgrowthcapital.com
214-459-8118