Atlas Health, a software startup that works with providers, has announced a $40 million series A funding round.
The round was led by Felicis Ventures with participation from GreatPoint Ventures, Tribe Capital, Global Founders Capital and MBX Capital.
The company reportedly plans to use the latest capital to expand its software and sales team. Atlas’ total funding to date is now $44.5 million.
“Many organizations provide financial aid to patients, but hospitals and health systems are not equipped to navigate the programs’ complexities at scale,” said Ethan Davidoff, CEO and founder of Atlas Health, in the announcement. “Atlas Health expands healthcare access and affordability by solving this challenge.”
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The company offers a software solution that relies on an AI-powered database of more than 20,000 medical financial aid programs that is used to match patients with financial aid opportunities before receiving a service. The database is continuously updated, according to the company.
The software, which integrates with EHR data, automatically matches patient accounts with program opportunities; enrollment and reimbursement are both also automated. The solution is equipped with advocates who help navigate the process. Last year, the company refined integrations with EHRs like Epic, Cerner and Allscripts.
“Atlas provides an efficient way to tap into the private philanthropic market to solve a critical need for both patients and providers,” said Sundeep Peechu, general partner at Felicis Ventures, in the announcement.
“Through automation, Atlas enabled us to make a larger impact by further reaching the vulnerable populations in our community,” added John Jurczyk, president of St. Joseph Hospital and senior vice president of Covenant Health, in the press release.