You may have the impression that coworking environments in the suburbs are stodgy and quiet, with solo-preneurs anxious to get out of their kitchens and few interactions among members and staff. Based on what has happened to Insightin Health while a member at Launch Workplaces in Gaithersburg, MD nothing is further from the truth!
Insightin Health, led by CEO Enam Noor, developed an artificial intelligence engine to improve health plan member acquisition and preventative actions. He joined Launch in late 2016, occupying a small interior office. As a start-up, he was looking for a flexible, affordable solution for his health IT company. And Launch Workplaces delivered, by helping him easily move into larger and larger space as his needs changed. Today, Enam has arguably the best location in the suite, occupying a large custom built office with a span of glass and a view of the Rio lake that is the envy of visitors and members. When asked what helped his success, Enam will say enthusiastically it was because of the people that he met at Launch and the introductions that were made. “We’ve come a long way since our beginning,” he admits. “We could not have built the business without Launch.” By being part of the community at Launch, he has met key players for his firm including a CFO, a board member, employees, and vendor partners, and received business support from TEDCO.
Insightin Health helps health plans attract better quality members and keep them longer. Enam is most excited to share the results its client’s experience when utilizing the company’s patent-protected data-driven platform–$2 million of net profit was generated over the last two open enrollment health plan periods for one client. Other results to be proud of: the company’s sales have grown four times and the number of employees has grown five times since 2016.
All of this success has attracted the attention of investors. Through an introduction made by Launch to TEDCO, Insightin Health received (I do not want to announce the amount) $200,000 through the Seed Investment Fund. That success attracted additional investment from other investors plus an additional advisory board member. The seed round has now almost closed and Insightin is looking ahead to its series A raise later this year. “The staff at Launch provided credible connections to the investment community. These kinds of introductions matter” said Enam.
With 75 percent of Americans facing a chronic illness, preventative actions can help our population get healthy. The Insightin Health platform can be a game-changer for both consumers and health plans to lower the cost of care. “We are especially proud of Enam and his company,” says Director of Operations Mark McMahon. “Launch Workplaces works hard to develop a supportive community for our members and it’s gratifying to see them grow.” Launch Workplaces provides entrepreneurial programming and was recognized by being the first coworking company to be admitted into the Maryland Business Incubator Association.
There’s excitement in the suburbs and it’s happening at Launch Workplaces!