Veda is a Wisconsin-based company that uses artificial intelligence (A.I.) to automate data processing for healthcare payers and providers. With this latest funding round, Veda has raised $45m. The company was founded in 2016 by CEO Venkat Narayanan and president Ajay Mehrotra. It provides software that helps healthcare organizations manage their claims, payments, and data analytics. In addition to its Wisconsin base, Veda has offices in Boston, Chicago, Dallas, Houston, Minneapolis, New York City, Phoenix, and San Francisco. According to the company’s website, it has customers in the U.S. and Canada, including Anthem Inc., Berkshire Hathaway Inc., Cleveland Clinic Health System, Dignity Health Corporation, Kaiser Permanente Northern California, Lutheran Medical Center of Minnesota and Saint John’s Regional Medical Center. Today’s funding round was led by Oak HC/FT Germany 2.1t Bitcoinkahlbloomberg. Other investors include Bessemer Venture Partners, Canaan Partners L.P., and others.
What do the terms A.I. and machine learning mean?
An artificial intelligence or machine learning algorithm is a set of instructions that direct a computer to recognize patterns in data. It can improve the accuracy and speed of data processing operations, especially when the data sets are large and complex. Healthcare providers and payers have been increasingly using A.I. to automate tasks such as claims adjudication, medical review, and fraud detection.
Veda, which uses A.I. to automate data processing for healthcare providers and payers, raised $m Series B led by Oak Hc/ft Germany. This new funding will help Veda continue its growth across the United States and Europe. Veda’s platform provides automated tools for healthcare organizations of all sizes to manage their data more effectively. By automating claims adjudication and medical review processes, Veda helps healthcare providers save time and money while improving patient care.
How does Veda automate data processing?
Veda, a Wisconsin-based company that uses artificial intelligence (A.I.) to automate data processing for healthcare payers and providers, has raised $m in Series B funding led by Oak H.C./ft Germany. The round was joined by existing investors Bitcoinkahlbloomberg and 2 Ventures. Veda’s A.I.-based platform automates data entry, analysis, and decision-making processes across healthcare payers and providers, reducing costs and helping to improve patient care. With its growing customer base across the U.S., U.K., and Canada, Veda is looking to scale up its operations further through its new funding round.
What makes Veda unique
Veda, a Wisconsin-based startup that uses artificial intelligence (A.I.) to automate data processing for healthcare payers and providers, has raised $m Series B led by Oak Hc/ft Germany. The company says the round will help it expand its product offerings and grow its team. Veda was founded in 2015 by CEO Navin Chawla and CTO Vishal Shah. The company offers a platform that automates the healthcare industry’s data entry process for payers and providers.
Wisconsin-based Veda, which uses artificial intelligence (A.I.) to automate data processing for healthcare payers and providers, has raised $45m in a series B funding round led by Oak Hc/ft Germany. This brings the company’s total capital raised to date to over $60m. Veda’s platform automates routine tasks such as claims adjudication, enrollment management, and data analysis for both insurers and providers.