Charta Health, an AI-enabled platform that automates billing and coding workflows, has secured $22 million in Series A funding.
Bain Capital Ventures led the round, with participation from SV Angel, South Park Commons, Madrona Venture Group and Refract Ventures.
WHAT IT DOES
The San Francisco-based company's platform utilizes AI to review patient charts before submission, flagging missed codes in an effort to reduce administrative burden and prevent denials before they occur.
The company will use the funds to expand its engineering and go-to-market teams, accelerate product development and speed up enterprise integrations with payers and providers.
"Historically, the complexity and fragmentation of healthcare infrastructure made it nearly impossible to apply AI meaningfully at scale," Justin Liu, cofounder and CEO of Charta Health, said in a statement.
"Today, we can layer advanced AI directly onto any EMR, surfacing patient-level insights: clinical, financial and operational – in real time, and unlocking automation without disrupting workflows or overburdening clinicians."
MARKET SNAPSHOT
Earlier this year, Charta Health raised $8.1 million in seed funding.
Charta Health was founded by Liu and Scott Morris, who formerly worked as engineers at Rockset, a company that offered tools for real-time search and data analytics. Rockset was acquired by OpenAI last year.
