It’s no secret that pre-AI era startups are generally getting little love from investors now.

Ariel Katz, co-founder and CEO of a nine-year-old healthcare data platform H1 , argues that not all SaaS companies should be painted with the same broad brush.

“If you’re a workflow SaaS company, you could vibe code that,” he told TechCrunch. What AI cannot easily replicate, according to Katz, is a company that is a data provider at its core.

That’s a self-serving viewpoint — H1’s entire business is built on selling detailed information about doctors to pharma companies, hospital systems, and health insurers — but it doesn’t mean he is wrong.

“I don’t worry about Claude ever doing what we do,” Katz said, referring to Anthropic’s popular AI model.…