Capitol, a New York-based AI solution that helps healthcare insurers make critical decisions by visually unlocking data and bypassing decision bottlenecks, announced that it closed a $10 million seed funding.
The round was led by 468 Capital, with participation from Designer Fund, Fuel Capital, Tokyo Black (Looker founder), Brian Chesky (founder/CEO, Airbnb), Chase Coleman III (founder, Tiger Global), Nomad Capital, AirAngels, Sanno Capital, and John McCormick (formerly Blackstone).
The company will use the funds to advance the platform, transition out of stealth, and further its adoption in healthcare. The platform will initially be used to help empower insurance executives to find cost savings, improve member engagement and improve quality of care.
”Most healthcare analytic tools are not built for business users, which means insight generation is painstakingly slow and built on clunky legacy products,” says Shaun Modi, CEO of Capitol. “We solve that by letting our platform do the work and letting AI find the insights. We create a visual story for our users that provides them with a guided analytics experience without being a data or design expert.”
The company’s Data Stories Platform uses artificial intelligence to generate insights that give healthcare users new access to data to instantly combat fraud, spot cost savings, and improve the quality of healthcare.
Company: Capitol AI, Inc.
Round: Seed Round
Funding Month: November 2022
Lead Investors: 468 Capital
Additional Investors: Designer Fund, Fuel Capital, Tokyo Black, Brian Chesky, Chase Coleman III, Nomad Capital, AirAngels, Sanno Capital, and John McCormick
Company Website: https://capitol.ai/
Software Category: Data Stories Platform
About the Company: Led by former Airbnb design lead Shaun Modi, Capitol is a healthcare data AI startup that helps healthcare insurers make critical decisions by eliminating the need for data scientists. The company’s Data Stories Platform creates visually driven tools that bypass decision bottlenecks and gives users instant tools to combat fraud, spot cost savings, and countless other business decisions. Its founding team includes experts in healthcare, data science, and product design from Airbnb and Signify Health.