Drug-discovery platform TandemAI, sleep-care platform BetterNight, health-monitoring system Xandar Kardian and AR/VR platform Healium also announced funding rounds.
CodaMetrix, an AI-powered platform for healthcare revenue cycle management, secured $55 million in Series A funding led by SignalFire.
Yale Medicine, Frist Cressey Ventures, CU Healthcare Innovation Fund and Martin Ventures participated in the round. Physician organizations from Mass General Brigham, where CodaMetrix was spun out of, also participated.
The company utilizes machine learning, natural language processing and deep learning to analyze electronic health records for autonomous medical coding.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
The funds will be used to speed up CodaMetrix’s go-to-market efforts with provider organizations and health systems, and Chris Scoggins, partner at SignalFire, will join the company’s board of directors.
“As a company born out of one of the largest and most innovative health systems in the country, our team experienced firsthand the pain points caused by medical billing challenges, including delayed payments, claim denials, coder shortages, high costs, and the time they take time away from patient care,” Hamid Tabatabaie, CodaMetrix president and CEO, said in a statement. “To address these challenges, medical coding, as the proxy for evidence of care provided, has to become largely autonomous.”
AI-powered preclinical drug discovery platform TandemAI scored $35 million in Series A funding led by Qiming Venture Partners with participation from Eight Roads Ventures, OrbiMed and F Prime Capital.
The company will use the funds to expand its platform, which integrates computational tools with medicinal chemistry, wet lab biophysics and biology to aid in drug discovery.
“TandemAI has developed a compelling vision for drug discovery that leverages both best-in-class experimental and computational technologies,” Jarlon Tsang, managing partner and head of China for Eight Roads, said in a statement. “Significantly, their integrated approach streamlines the discovery workflow and enables access to state-of-the-art computational tools for biotechnology companies at any stage and any scale. They have assembled a world-class team that is executing on that vision.”
Source: Mobihealth News