Codoxo, an Atlanta, Georgia-based trusted provider of healthcare artificial intelligence solutions, announced it closed a $20 million oversubscribed Series B funding round was led by QED Investor.
New investors joining this round of funding are Sands Capital Management and 111 West Capital. Existing investors that also participated in this round are Brewer Lane Ventures, Spider Capital, and GRA Venture Fund. This Series B round brings Codoxo’s total funding to about $30 million.
The Series B round will use to support explosive demand for its Healthcare Integrity Suite of solutions that leverage the company’s Forensic AI Platform to address fraud and payment integrity issues for healthcare payers and government agencies.
Company: FraudScope, Inc.
Raised: $20.0M
Round: Series B
Funding Month: February 2022
Lead Investors: QED Investors
Additional Investors: Sands Capital Management, 111 West Capital, Brewer Lane Ventures, Spider Capital, and GRA Venture Fund
Company Website: https://www.codoxo.com/
Software Category: Healthcare AI solutions
About the Company: Codoxo’s mission is to make healthcare more affordable and effective for everyone and serves as the premier provider of artificial intelligence-driven solutions and services that help healthcare companies and agencies proactively detect and reduce risks from fraud, waste, and abuse. The Codoxo Healthcare Integrity Suite helps clients manage costs and improve collaboration across payment integrity, special investigation units, provider coding, and billing, network management, and clinical care teams. Codoxo software-as-a-service applications are built on a proven Forensic AI Platform, which uses patented AI-based technology to identify problems and suspicious behavior faster and earlier than other AI and rule-based techniques. Our solutions are HIPAA- compliant and operate in a HITRUST-certified environment.
Source: https://www.codoxo.com/press-release/healthcare-ai-solution-provider-codoxo-raises-20-million-in-oversubscribed-series-b-funding-round-to-meet-explosive-demand-for-its-healthcare-integrity-suite/