Atlas scores $40M for financial assistant tool and more digital health funding

Atlas, an AI-powered, patient-centered financial-navigator company, announced a $40 million Series A funding round. Felicis Ventures led the round with participation from GreatPoint Ventures, Tribe Capital, Global Founders Capital and MBX Capital. 

The company’s platform is designed to match patients to medical financial aid programs and advocates. The tool was created to integrate with a healthcare provider’s systems in order to match patient accounts and prescriptions to potential programs. The company’s patient advocates are able to submit claims and track payment. The company pitches its tool as a way to build reimbursement from philanthropic funds. 

The Seattle-based company plans to use the new funds to propel its go-to-market strategy, according to its release. 

Patient-triage company Infermedica scored $30 million in Series B funding. One Peak led the funding round with participation from Karma Ventures, European Bank for Reconstruction and Development, Heal Capital and Inovo Venture Partners. The startup plans to use the money to boost its global commercial presence and expand its global footprint. 

The company closed a $10.2 million Series A funding round in August 2020. To date, the company boasts of $44 million in capital. 

Infermedica’s products include a symptom-checking, AI-enabled chatbot that guides patients through their care journey, an AI-backed call center and an API that helps developers build their own products. 

“We are incredibly excited to back the Infermedica team as we share their vision of making healthcare more accessible and affordable by automating primary care,” Humbert de Liedekerke, managing partner of One Peak, said in a statement. “We have been particularly impressed with Infermedica’s clinical safety and accuracy, best-in-class user experience, ease of deployment and customer service.

“We believe the company has all the ingredients in place to become the global standard for using AI to support patients and healthcare providers in all steps of the primary care journey, and we look forward to supporting Infermedica in its next phase of explosive growth.”

This morning DigitalOwl, a startup that uses natural language processing to help analyze and summarize EHRs, landed $20 million in Series A funding. Insight Partners led the round, with participation from Ibex and Fusion VC. 

The company works with health insurance companies and legal entities to analyze medical records for the purpose of building legal cases, finding fraud, executing claims and underwriting new plans, according to the release. 

The company plans to use the new cash to add to its tech development, sales, marketing and customer service teams. 

“Medical record reading and analysis for insurance and legal industries has long needed to be modernized. The need only grew through COVID-19, as it became nearly impossible for insurers and law firms to hire nurses, doctors or other claims analysts to manually read medical records,” said Ryan Hinkle, managing director at Insight Partners.

“DigitalOwl’s impressive founding team has addressed this need with cutting-edge technology that uses AI to digitize an antiquated industry. We look forward to partnering with DigitalOwl as they continue to grow.”