San Francisco-based Arintra, an autonomous medical coding platform, announced it garnered $21 million in Series A funding in a round led by Peak XV Partners.
Y Combinator, Endeavor Health Ventures, Ten13, Spider Capital, Counterpart Ventures and other strategic investors also participated in the round.
WHAT IT DOES
Arintra offers a genAI-powered platform for autonomous medical coding, from chart review to claim submission. The company says its platform analyzes patient charts and generates direct-to-billing charges and codes, including CPT, HCC, E/M levels, ICD-10 and HCPCS codes.
It also offers an audit trail, which it says can reduce compliance risks, improve provider communication and, in turn, improve documentation.
The company will use the funds for continued growth, including speeding up product development, expanding its workforce and opening a new headquarters in the Bay Area.
"The disruption of the $150 billion healthcare reimbursements industry will be one of AI's defining impacts. Arintra's autonomous system tackles one of the hardest challenges for providers: translating clinical documentation into accurate insurance codes so they get paid fairly and fast," Dr. Mohit Bhatnagar, managing director at Peak XV, said in a statement.
"After backing [cofounders Nitesh Shroff and Preeti Bhargava] at seed through our Surge Program, Peak XV Partners is excited to double down and lead Arintra's Series A round."
MARKET SNAPSHOT
Arintra touts that its clients include multiregional health system Mercyhealth in northern Illinois and southern Wisconsin and healthcare system Reid Health, located throughout Indiana and Ohio.
In December, the company announced its inclusion in the Epic Toolbox for Fully Autonomous Coding.
Other players in the space include CodaMetrix, an AI-powered platform for healthcare revenue cycle management, and Nym Health, an autonomous medical coding company.
CodaMetrix garnered $40 million last year in Series B funding and scored $55 million in Series A funding in 2023.
Last year, Nym Health secured a $47 million growth investment led by PSG. The company raised $25 million in funding in 2021 and $16.5 million in 2020.
