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Conversation
Highlights
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Elad Ferber, CEO & Co-Founder of Synthpop, a healthcare technology company that’s raised over $8 Million in funding.
Here are the most interesting points from our conversation:
- Synthpop’s Vision: Synthpop is leveraging AI to revolutionize healthcare administration by streamlining back-office functions, which Elad sees as the biggest opportunity to transform the industry.
- Prior Experience with Spry Health: After leading Spry Health, Elad learned that healthcare systems are slow to adopt change, even with great products. This drove him to build a faster-growing healthcare company.
- Fast GTM Traction: Synthpop achieved impressive growth, reaching nationwide scale and processing over one million administrative tasks in just 17 months, a milestone that took them less than six months to reach with their first paying customer.
- Category Focus: Synthpop operates in highly consolidated verticals such as durable medical equipment and diagnostic testing. This focus has enabled rapid adoption and clear value delivery in less traditional healthcare settings.
- Positioning as “Labor, Not Software”: Synthpop positions itself as a labor solution, not a SaaS product, differentiating by automating repetitive administrative tasks such as insurance verification, reducing labor costs for healthcare providers.
- Composable Intelligence as the Future: Elad believes that in the next five years, AI will simply be viewed as scalable intelligence, with Synthpop at the forefront as a composable intelligence platform for healthcare providers.
Actionable
Takeaways
Speed Over Perfection in Early Stages
Elad emphasizes optimizing for speed when building a new company. By focusing on rapid execution, Synthpop was able to get its first paying customer before taking investor money. This approach allowed them to prove value quickly and align their priorities around what was important for growth. Founders should focus on getting early customer traction before scaling too quickly.
Leverage Vertical-Specific Insights for GTM Success
Synthpop's focus on specific healthcare verticals, such as durable medical equipment and diagnostic testing, allowed them to target less saturated markets that are more open to innovation. For B2B founders, narrowing focus to high-opportunity niches can help accelerate adoption and make the GTM process more effective.
Position as a Labor Solution, Not Just Software
Instead of positioning Synthpop as a SaaS tool, Elad and his team framed their offering as a labor-saving solution. By focusing on how their AI agents perform tasks typically done by employees, they created a unique value proposition that made it easier for customers to adopt their product. Founders should think about positioning their product in terms that solve their customers' immediate operational pain points.
Pre-sell and Validate Before Fundraising
Before taking investment, Elad validated his idea by securing commitments from paying customers. This not only reduced the risk for investors but also ensured they were building something with real demand. Early-stage founders can learn from this approach by ensuring there's tangible market demand before fundraising or scaling operations.
AI is a Tool, Not the Story
Elad sees AI as a means to an end, not the end itself. He predicts that in five years, the term “AI” will no longer be a selling point; instead, the focus will be on the intelligence and efficiency it enables. For founders, this means emphasizing outcomes and value over the technology itself when crafting messaging and positioning.
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