Secure Funding: Healthcare Provider's Data Infrastructure Receives $40 Million in Series B Financing
In a significant move to transform the healthcare sector, data intelligence company Certify has secured a $40 million Series B funding round, led by Transformation Capital. The funding will be used to accelerate product, engineering, and go-to-market efforts to meet the growing market demand.
Certify, initially a credentialing platform, has expanded its services to cater to health plans and digital health companies with end-to-end provider data needs. The company's AI-powered platform addresses the core issues of data fragmentation and inefficiency in healthcare by providing a unified, accurate, and accessible source of provider data.
Anshul Rathi, Founder and CEO of Certify, states that the latest funding is a marker in Certify's dramatic growth trajectory. Rathi further explains that Certify is building a single, intelligent source of truth for provider data that transforms fragmented, error-prone processes into a strategic asset.
The platform unifies provider data from thousands of primary sources, using AI and machine learning to maintain a real-time source of truth. It improves provider data accuracy by 30% and ensures 99.8% field-level accuracy, which is crucial for reducing delays in care and claims processing.
General Catalyst and Upfront Ventures also contributed to the funding, with new support from SemperVirens. Scott Rosen, Partner at Transformation Capital, points out Certify's health plan market penetration and powerful network effects as factors that set it apart in the healthcare data infrastructure space.
Rosen suggests that the opportunity ahead for Certify - to unify, simplify, and scale provider operations across the industry - is massive. He explains that Certify's team is modernizing provider data administration by rearchitecting the foundational layer that healthcare runs on.
The funding will also help reduce administrative costs by up to 40%. Anshul Rathi mentions that without addressing this foundational issue, patients won't find needed care, and provider burnout will reach a breaking point. He further emphasizes that provider data chaos is one of the most overlooked drivers of cost, delay, and abrasion in healthcare today.
The automation capabilities of Certify's platform cut provider onboarding time from months to days, significantly improving operational efficiency. This streamlined approach not only reduces costs but also supports better patient care by reducing administrative burdens and improving data-driven decision-making.
In conclusion, Certify's AI-powered platform is set to revolutionize healthcare data infrastructure, providing a unified, accurate, and accessible source of provider data. This not only streamlines operations but also supports better patient care by reducing administrative burdens and improving data-driven decision-making.
Technology plays a crucial role in Certify's platform, as AI and machine learning are used to unify and maintain a real-time source of provider data, thereby improving data accuracy and reducing delays in care and claims processing.
With its technology, Certify aims to modernize provider data administration, rearchitecting the foundational layer that healthcare runs on, ultimately reducing administrative costs by up to 40% and addressing the overlooked driver of cost, delay, and abrasion in healthcare - provider data chaos.
