Patient billing and communications platform, Inbox Health, has raised $22.5m in Series B financing, led by Ten Coves Capital, with participation from existing investors. The funds will be used to further the growth of the company’s AI-enabled tool that automates billing and payments, and provides patients with additional insights into their charges. In other funding news, Hygieia raised $22m for its d-Nav Insulin Guidance Service, and Autonomize AI closed a $4m seed round led by Asset Management Ventures, which will be used to enhance its commercial efforts and research and development of its software products for healthcare and life sciences.
Patient billing and communications platform Inbox Health has completed its $22.5 million Series B financing round, bringing its total raise to more than $43 million.
Ten Coves Capital led the round with participation from existing investors Vertical Venture Partners, CT Innovations, Healthy Ventures, Commerce Ventures and Fairview Capital.
Steven Piaker, managing partner at Ten Coves Capital, will join Inbox Health’s board of directors.
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The company offers an AI-enabled tool that automates billing and payments. The technology was designed to give patients additional insights into their charges. Patients can pay their medical bills via text, email or paper and receive support for billing questions via text, email and live chat.
The funds will be used to further the company’s strategic growth.
“We believe that Inbox Health’s leading solution delivers tangible value to all key players in the patient care process and are excited to partner with the Inbox Health team during its next phase of growth,” Piaker said in a statement.
Hygieia, maker of the d-Nav Insulin Guidance Service, extended its Series B round to $22 million with a lead investment from continued investor Firstime Ventures and investments from two strategic partners.
The company closed its initial $17 million Series B investment round in 2021.
The d-Nav Insulin Guidance Service includes an app that recommends insulin doses for individuals with Type 2 diabetes. The app received FDA 510(k) clearance in 2019.
The cloud-based service utilizes proprietary algorithms, users’ blood glucose data and a small team of health professionals to generate and deliver insulin dosage recommendations. Users enter their glucose data and receive guidance for dosage directly through the company’s app.
Autonomize AI, an AI company for healthcare and life sciences, closed a $4 million seed round led by Asset Management Ventures.
Loop Ventures, ATX Venture Partners and the Next Practices Group also participated in the round.
The company offers software products like Autonomize Pixel, a clinical trial workflow platform; Autonomize Wizard, a multi-modal chart analysis offering; and Generative AI, which helps providers summarize, contextualize and visualize complex information based on internal datasets.
Autonomize AI will use the funds to enhance its commercial efforts and research and development.
“We believe that Autonomize AI holds the key to unlocking the vast potential of artificial intelligence in revolutionizing healthcare,” Skip Fleshman, general partner at Asset Management Ventures, said in a statement.
“While there is a lot of talk about AI in healthcare, extracting the insights buried within unstructured medical data in various silos is essential for fostering breakthroughs in patient care and overall health outcomes. We are thrilled to partner with this seasoned team as they lead the charge in harnessing the power of AI to create a healthier future for all.”
Source: MobihealthNews
