Reveleer raises $65M for payer-focused data analytics platform, eyes acquisitions in interoperability, NLP tools
Reveleer is considering partnerships or acquisitions with nearly 160 companies in interoperability, analytics, and natural language processing. (metamorworks/Getty Images) Reveleer, a cloud-based platform helping payers analyze member and provider data, has landed $65 million in fresh capital.
The company allows government-sponsored payers to manage risk adjustment and quality improvement in-house, using machine learning to simplify the process of collecting member data and improving outcomes.
Oak HC/FT led the round, joined by previous investors Upfront Ventures and Boston Millenia Partners.
The process of payers collecting clinical data from providers, which often involves multiple payers all asking a single provider for the same member information, is “inefficient, redundant, and creates a lot of friction for providers,” said Jay Ackerman, president and CEO of Reveleer, in an interview with Fierce Healthcare.
“The solution set today doesn’t solve that, and there’s no impetus to solve it. We’re trying to take the opportunity to do that in-house and to do it faster, cheaper, and better, allowing more time to work on improving member outcomes,” he said.
Reveleer’s artificial-intelligence-enabled platform aims to simplify the process of capturing and reviewing member data, analyzing over 40 million pages of clinical data in 2020, Ackerman said.“We’re able to scan and identify 86% of […]