RapidClaims Secures USD 11 Mn to Revolutionise AI-Powered Revenue Cycle Management The fresh capital will accelerate RapidClaims' go-to-market initiatives and enhance its AI-powered claim denial prevention technology, helping healthcare providers reduce costs by up to 70% and streamline reimbursements.
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RapidClaims, an AI-driven revenue cycle management (RCM) platform, has raised USD 11 million to enhance its technology and expand its market reach.
The funding includes USD 8 million Series A led by Accel, with participation from Together Fund, and a previously unannounced USD 3 million seed round. The company's earlier funding was led by Together Fund, with backing from angel investors such as Oscar Benavidez (Massachusetts General Hospital), Matthew Zubiller (ex-CEO, e4health), Ankit Jain (CEO, Infinitus), and Sachin Jain (healthcare leader).
The fresh capital will accelerate RapidClaims' go-to-market initiatives and enhance its AI-powered claim denial prevention technology, helping healthcare providers reduce costs by up to 70% and streamline reimbursements.
"We are live with more than 25 specialties and have achieved high autonomous accuracy in over 20 of those—a performance level unheard of in the industry," said Dushyant Mishra, Founder and CEO of RapidClaims. "Our multi-specialty AI solution offers a distinct advantage over narrow, specialty-focused tools, and we plan to expand into claim adjudication and the end-revenue cycle."
Founded by Dushyant Mishra, RapidClaims leverages AI to address claim denials, optimise reimbursements, and enhance financial efficiency for healthcare providers. The platform integrates seamlessly with over 15 electronic health record (EHR) systems, ensuring rapid deployment and customisation.
Key AI-powered offerings include:
- RapidCode – An autonomous medical coding solution that processes millions of charts across 20+ specialties, achieving 98% accuracy in fields like radiology and anesthesia.
- RapidCDI – A clinical documentation improvement tool for outpatient and value-based care, optimising risk-adjusted coding by scanning over 50 patient documents.
- RapidScrub – A proprietary AI model that pre-scrubs claims before submission, reducing denials and revenue leakage.
In just one year, RapidClaims claims to have grown sixfold, serving a double-digit client base, including major physician groups and federally qualified health centers (FQHCs). The company expects fivefold growth in the coming quarters and is in discussions with leading healthcare organisations.
"RapidClaims has rapidly scaled in one of the most complex markets," said Manasi Shah, Investor at Accel. "Their AI-driven RCM workflows drastically cut costs and implementation timelines from months to weeks. The customer feedback has been phenomenal."
Shekhar Kirani, Partner at Accel, highlighted RapidClaims' differentiation: "Revenue cycle inefficiencies cost US healthcare over USD 250 billion annually. RapidClaims' AI-first approach is solving this problem with unmatched speed and customisation."
With this funding, RapidClaims plans to expand its sales and marketing efforts and enhance product capabilities, projecting an eightfold increase in 2025. The company offers a risk-free pilot for healthcare providers to experience its transformative AI platform.
