Please welcome Pangea Health, the software-driven sales platform for healthcare
Meet Pangea Health, the latest addition to Lerer Hippeau’s portfolio.
HQ: New York
Founder: Lenny Roth
The problem: For healthcare and pharmaceutical companies, recruiting, training, and managing sales representatives can be expensive, time consuming, and difficult to scale. Plus, it’s nearly impossible to ensure consistency and quality among representatives. For those reasons, among others, the healthcare sales model has traditionally relied on full-time employees to sell into doctors’ offices. To date, current, W-2-oriented systems have been inflexible and antiquated. As healthcare changes, the systems that support it need to as well.
Pangea Health’s solution: Pangea Health is a turnkey, software-enabled sales marketplace that allows healthcare companies to sell directly into provider offices via the company’s network of sales reps. Full-time employees are no longer required — sales reps have flexibility and partner companies can pay per performance (so working harder and smarter gets rewarded). Plus, Pangea’s software pairs healthcare companies with the sales reps best positioned to promote their products and monitors progress along the way. The platform is straightforward to use and sophisticated in capabilities for sales reps and healthcare companies alike.
Origin story: Founder Lenny Roth spent over a decade in pharmaceutical and healthcare sales. During that time, he built two of the largest sales rep networks in the United States. Plus, Lenny’s connection to healthcare is personal: he was diagnosed with cancer at age 13 and spent many formative years in and out of doctors’ offices. He knows the space through and through, and knows the difference an effective healthcare solution can make for patient care and operational success. We’re glad to support him as he modernizes our healthcare system for the betterment of all.
Why we’re betting on it: Pangea Health is making one of the most challenging (and important) parts of the healthcare go-to-market easy: meeting and educating providers at the point of care. It makes all the difference that the conversation happens in the setting where it matters most. Sales reps complete company-specific training and find provider offices that they can sell to using proprietary data so visits are efficient and substantive. They can work when they want to, choose companies to promote based on values and personal preferences, and get compensated for their work immediately.
Our take: Nearly $30B of investment poured into digital health companies in 2021, and despite the thousands of startups being formed over the past few years, we believe we’re still in the early innings of modernizing the $4.3 trillion U.S. healthcare industry. There is tremendous opportunity for further innovation and as solutions evolve to better meet patient needs, the channels by which companies reach patients will evolve as well. Providers will continue to play the critical role of gatekeeper to the patient, and the cost of their time and attention will only rise as new products and services enter the market. At the same time, providers will seek to filter through the growing number of options in order to find the companies that best serve their patients’ needs. By building out the largest, data-driven network of trusted sales reps, Pangea Health will provide the digital and physical infrastructure that enables the best new products and services to reach the right providers. We believe the efficiency of Pangea Health’s marketplace model at scale has the potential to augment and eventually replace the traditional methods of selling to providers.
Further reading: “Why I Started Pangea Health” via Lenny Roth