Verata Health
Latest round
- Series A
Last raised
- Mar 2019
Total raised
- Undisclosed
Investors
- 4
About Verata Health
Verata Health, Inc.Founded in 2017 and headquartered in Orlando, US, Verata Health specializes in automating prior authorization workflows. The company has undergone strategic pivots to enhance its technology offerings. Verata Health was acquired by Olive AI, Inc. in December 2020, with financial terms undisclosed.Verata Health specializes in automating the prior authorization process for healthcare providers and payers, utilizing advanced artificial intelligence (AI) technology. Their core offerings streamline the requirements for prior authorization, including medical necessity determinations, statusing, and denial prevention. Moreover, their platform automates clinical documentation to enhance first-pass approval rates, enabling direct submissions via API from electronic health records (EHRs), which alleviates the need for cumbersome portal submissions. Verata Health’s solutions are designed for healthcare entities across various specialties and payer types, effectively serving hospitals, specialty clinics, and health plans.Verata Health operates on a B2B model, engaging primarily with healthcare providers and payers through partnerships and subscriptions. Their revenue structure is based on service agreements that facilitate automated prior authorization submissions, which include a tiered pricing model based on the volume of transactions processed or the number of users integrated into their system. The company's flagship offerings, which include their proprietary AI-driven prior authorization platform, are positioned to provide value through operational efficiency and cost reduction for healthcare organizations.Verata Health plans to enhance its offerings by developing new products aimed at further streamlining healthcare processes. The company seeks to expand its services into new geographical markets, particularly targeting additional states within the US by the end of 2023. The recent acquisition by Olive AI, Inc. is expected to provide the necessary resources and support for these initiatives.
Who invested in Verata Health
4 investors across 1 round
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Funding rounds
Series A
Mar 30, 2019
Amount
Undisclosed
Investors
Questions about Verata Health
Who invested in Verata Health?
Verata Health has 4 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Verata Health raised?
Verata Health has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Verata Health last raise money?
Verata Health's most recent round on record is a Series A, in Mar 2019.
What does Verata Health do?
Verata Health is a software company.
Where is Verata Health headquartered?
Verata Health is headquartered in Orlando, US.
Which VCs invest in companies like Verata Health?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Verata Health's stage. Their profiles are linked below.
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