Certify: $40M Funding for Healthcare Data Infrastructure
- Certify, a New York City-based provider data intelligence company, announced it has received $40 million in Series B funding.
- The company's AI platform aggregates provider data from various sources,including state boards and national clearinghouses.
- Anshul Rathi, founder and CEO of Certify, said provider data is a critical but often flawed component of healthcare.
Certify, a provider data intelligence company, has secured a $40 million series B funding round, propelling its mission to revolutionize healthcare data infrastructure. The investment will empower Certify’s AI platform to refine provider data management, aiming to solve intricate issues with directories, claims processing, and overall access to vital information. This notable funding will further Certify’s goals in product development and market expansion. News Directory 3 recognizes this pivotal moment.The firm’s current focus is on establishing a unified data system, tackling the $3 billion spent annually on outdated manual updates. This will ultimately improve experiences and ease administrative burdens for health plans,providers,and patients. Discover what’s next …
Certify Secures $40M to Streamline Healthcare Provider Data
Certify, a New York City-based provider data intelligence company, announced it has received $40 million in Series B funding. This latest round brings their total funding to $69 million.
The company’s AI platform aggregates provider data from various sources,including state boards and national clearinghouses. Certify aims to simplify access to accurate provider data for health plans and digital health organizations, addressing challenges with provider directories and medical claims processing.
Anshul Rathi, founder and CEO of Certify, said provider data is a critical but often flawed component of healthcare. He noted the current system leads to wasted spending, reduced access to care, and payment delays due to inaccurate details.
Transformation Capital led the $40 million funding round, with participation from General Catalyst, Upfront Ventures, and SemperVirens.
Scott Rosen, partner at Transformation Capital, said certify’s market presence and network effects distinguish it in the healthcare data infrastructure sector. He added that the funding will help modernize provider data management.
Rathi said the company plans to invest the new funds in product development, engineering, and expanding its market reach.
Certify currently serves 17 health plan clients, including Oscar, Carelon, University of Utah Health Plans, SelectHealth, Alignment Health, and Centene.
The funding comes as the healthcare system spends an estimated $3 billion annually on manual provider directory updates. Furthermore, about 43% of physicians report experiencing burnout. New NCQA credentialing standards taking effect July 1 will require more frequent verification of provider credentials, increasing the need for accurate provider data.
“Certify’s vision is to create a single source of truth for provider data - one that’s frictionless, accessible via one API, and only requires providers to update their information in one place rather than dozens of systems,” Rathi said.
What’s next
Certify aims to create a unified provider data system, reducing administrative costs and improving experiences for both providers and patients.