HBox Secures Major Investment to Scale AI-Powered Virtual Chronic Care

BOSTON, MA – December 19, 2025 – HBox, a virtual care platform specializing in chronic disease management, has secured a significant growth investment from Charlesbank Capital Partners. The funding, from Charlesbank's recently closed $1.275 billion Technology Opportunities Fund II, signals a major vote of confidence in HBox's mission to transform how specialty medical practices monitor and treat high-risk patients outside the clinic walls. The deal, which closed on December 17, provides HBox with the capital to accelerate its expansion and further develop its innovative care delivery model.

This investment arrives at a critical juncture for the healthcare industry, which is grappling with a rising prevalence of chronic diseases and a pressing need for more scalable, efficient care solutions. HBox aims to meet this challenge by enabling cardiology, pulmonology, nephrology, and other specialty clinics to extend their services beyond traditional in-person visits, creating a continuous and connected care experience for patients with complex conditions.

The 'Clinic Within a Clinic' Model Takes Center Stage

At the core of HBox's strategy is its integrated, AI-powered platform, which the company describes as a “virtual clinic within a clinic.” This model provides specialty practices with a comprehensive, end-to-end solution that combines software, connected medical devices, and patient engagement tools. The platform aggregates real-time patient data—including vitals from connected devices like blood pressure cuffs, weight scales, and pulse oximeters—along with patient-reported actions and clinical documentation into a single, unified system. This allows physicians and their staff to efficiently manage large patient populations while maintaining a high level of personalized care.

"Today marks an important step forward for HBox and for the patients and clinicians we support,” said Banu Dhanakoti, Co-founder and Chief Executive Officer of HBox. “For cardiac patients in particular, timely monitoring and personalized care plans can help prevent hospitalizations and provide families with greater confidence in day-to-day condition management.”

By leveraging artificial intelligence, the platform helps clinicians identify at-risk patients and intervene proactively, shifting the paradigm from reactive, episodic treatment to preventative, continuous care. This approach is designed to improve patient outcomes, reduce costly hospital readmissions, and enhance the overall quality of life for individuals managing long-term illnesses.

A Strategic Bet in a Booming Market

The decision by Charlesbank, a private investment firm with approximately $24 billion in assets under management, to back HBox underscores powerful trends reshaping the healthcare landscape. The global virtual care market, valued at over $30 billion in 2023, is projected to soar to nearly $286 billion by 2030, driven by technological advancements and evolving patient expectations. This investment is a clear bet on the durability of that growth.

"Preventative, virtual and continuous care is the future of healthcare for both improving outcomes and managing costs,” said Michael Zirngibl, a Principal at Charlesbank, highlighting the firm's thesis. “We are excited to back Banu, Sandeep, Mo and the team as they continue to expand HBox’s innovative virtual ‘clinic within a clinic’ offering.”

The investment also reflects a keen understanding of the operational challenges facing specialty practices. Many clinics lack the internal resources to build and manage comprehensive remote monitoring programs on their own. Hiren Mankodi, Co-Head of Charlesbank’s Technology Opportunities team, noted this gap, stating, “Remote monitoring and virtual care are becoming standard in many specialties, yet most practices lack the technology and staff to run these programs on their own. HBox’s combination of software, services and specialty focus positions the Company to be that infrastructure at scale.”

This market need is further amplified by an increasingly favorable reimbursement environment. Regulatory bodies like the Centers for Medicare & Medicaid Services (CMS) have progressively expanded coverage for remote patient monitoring (RPM) and other virtual care services, creating stable revenue streams for providers and encouraging the adoption of platforms like HBox.

Navigating a Competitive Digital Health Landscape

HBox operates in a dynamic and increasingly crowded digital health market. It faces competition from a range of players, including other specialty-focused RPM platforms like HealthFlow RPM, broader integrated care systems such as Rimidi, and companies with advanced AI-driven diagnostic tools like Eko Health. Even large, generalized telehealth providers like Teladoc and Amwell are expanding their chronic care management capabilities.

However, HBox's key differentiator lies in its deeply integrated, specialty-specific approach. Rather than offering a one-size-fits-all solution, the platform is tailored to the unique workflows of cardiology, pulmonology, and nephrology practices. By bundling its AI-powered software with a pre-configured kit of connected devices and offering services like Revenue Cycle Management (RCM), HBox provides a turnkey solution that minimizes the implementation and operational burden on clinic staff.

This focus has allowed the company, led by co-founders Dhanakoti, Sandeep Subramanya (COO), and Mohammed Ali (CRO), to establish itself as a mission-critical partner for independent specialty practices across the country, boasting rapid customer growth and high patient compliance rates.

Bridging Gaps for Patients and Providers

The ultimate promise of HBox's platform is its dual benefit for both patients and healthcare providers. For patients managing high-risk conditions, the system offers a sense of security and empowerment. Continuous monitoring from the comfort of home, coupled with proactive outreach from their care team, can lead to better disease management and fewer emergency situations. For their families, it provides peace of mind.

For specialty clinics, the platform is a powerful efficiency engine. It allows them to scale their services and manage a larger panel of chronic care patients without a proportional increase in administrative staff. By automating data collection and using AI to flag concerning trends, clinicians can focus their time and expertise where it is needed most. This enhanced operational efficiency, combined with the new revenue opportunities from virtual care reimbursement codes, makes a compelling business case for adoption.

With the new capital from Charlesbank, HBox is poised to enhance these capabilities, expand its reach, and solidify its position as a foundational technology partner for the specialty practice of the future. The partnership represents a pivotal move in the ongoing shift from reactive, episodic treatment to a proactive, continuous, and technology-driven model of healthcare delivery, setting a new standard for managing chronic disease across the country.