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Anterior, which offers generative AI to payers to assist with administrative workflow, has closed an oversubscribed $40 million funding round, bringing its total raise to $64 million.
Existing investors NEA and Sequoia Capital participated in the round, alongside new investors FPV and Kinnevik.
The company also added several advisors to its team, including Secretary Dr. David Shulkin, former Ninth Secretary of the U.S. Department of Veterans Affairs; Peter Long, former executive VP and chief strategy officer at Blue Shield of California and current board member at Blue Cross Blue Shield of Massachusetts; and William Golden, former CEO of employer and individual at UnitedHealthcare.
WHAT IT DOES
Anterior, formerly Co:Helm, offers genAI tools for health plans aimed at helping with clinical workflow and administrative tasks, including aggregating encounters and demographic data for reporting, retrieving missing provider information during claims adjudication, intaking clinical documentation for prior authorization requests and more.
The New York-based company will use the funds to expand its technology, scale its reach, and increase clinical and operational use cases.
"AI in health plans is not struggling because of a technology gap, but because implementation is treated as an afterthought," Dr. Abdel Mahmoud, physician, former Google product leader and CEO of Anterior, said in a statement.
"We built Anterior around a different premise: AI only works in healthcare when it's deployed by clinicians, alongside clinicians. We've invested as much in implementation as we have in technology, and the market response has validated that approach."
MARKET SNAPSHOT
In 2024, Co:Helm rebranded as Anterior and secured $20 million in Series A funding.
A year earlier, the company secured $3.2 million in seed funding led by Sequoia, along with AI and healthcare investors.
Another company offering AI tools for health plans is Softheon, which provides AI tools for care management, risk adjustment, and Medicaid, Medicare, and ACA Marketplace enrollment, billing and payments.
