This roundup will be published monthly. It is meant to highlight some of the most notable funding rounds of the month and is not intended to be comprehensive.
Here is a list of some of the most notable funding round announcements that took place this March in the provider technology space.
Zephyr AI’s $111M Series A round
Zephyr AI announced the close of a $111 million Series A funding round. The Virginia-based healthcare AI startup, which was founded in 2021, is developing a precision medicine platform to improve oncology and cardiometabolic disease care.
The startup’s technology combines patient data and AI to “extract novel insights to better define patient stratification and response predictions as well as improve federation of real-world data,” Grant Verstandig, co-founder and executive chair, said in a statement.
Nalu Medical’s $85M Series E round
Carlsbad, California-based Nalu Medical completed its $85 million Series E financing round. The company, founded in 2014, received $20 million from B Capital this month, with the remaining $65 million having been raised in late December.
Nalu is using the funds to advance the development and commercialization of its neurostimulation system, which treats chronic pain by delivering targeted electrical pulses to disrupt pain signals in the nervous system.
Hippocratic AI’s $53M Series A round
Hippocratic AI closed a $53 million Series A funding round. The Palo Alto-based startup was founded roughly 10 months ago with a mission to develop the healthcare industry’s “first safety-focused large language model.”
The company is developing a healthcare LLM with a focus on patient-facing applications — such as a model that provides patients with tailored diet planning or a generative AI-powered lactation consultant to help mothers after childbirth.
CodaMetrix’s $40M Series B round
CodaMetrix, an AI platform for hospital revenue cycle management, raked in $40 million in Series B funds.
The Boston-based company, which was launched out of Mass General Brigham in 2019, aims to simplify the complicated process of translating patient records into codes for billing and clinical research. To alleviate the problem, CodaMetrix has developed machine learning software designed to automate the medical coding process.
Nourish’s $35M Series A round
New York-based telenutrition platform Nourish raised $35 million in a Series A financing round. The startup, founded in 2021, seeks to connect people to insurance-covered dietician visits.
Nourish aims to give people access to personalized nutrition care “that has historically been limited to a subset that can afford to spend thousands of dollars out-of-pocket,” COO Sam Perkins said in a statement.
Pi Health’s $30M Series A round
Pi Health, which was founded in 2021, closed a $30 million Series A funding round. The Massachusetts-based company’s technology connects life science sponsors to trial sites to advance clinical research.
The startup’s software seeks remove bottlenecks from today’s clinical trials infrastructure — which is “a maze of Excel spreadsheets, paper binders and manual data entry into various point-solutions,” according to a statement from Brenton Fargnoli, a partner at AlleyCorp who invested in Pi Health.
InStride Health’s $30M Series B round
InStride Health, a virtual care provider for pediatric patients with anxiety and OCD, received $30 million in Series B funds.
The Boston-based startup delivers insurance-covered pediatric mental health treatment using a care model developed by two of its co-founders, who are Mass General Brigham clinicians.
Photo: Nicolas Mero, Getty Images
