Coral Raises $12.5M in Funding

Coral, a New York-based healthcare automation platform, has raised $12.5 million in a funding round to scale its administrative workflow technology. The company focuses on streamlining back-office operations for specialty healthcare providers, such as infusion centers and radiology practices, by automating tasks like patient intake and prior authorization without replacing existing infrastructure like fax machines.

Investors

This round was co-led by Lightspeed and Z47.

Coral Use of Funds

The company intends to use the capital to expand its engineering team and hire industry experts with deep healthcare operations experience. Product development will focus on scaling its new AI-powered voice and text workflows, as well as building an AI workflow builder that allows providers to design custom administrative processes.

About Coral

Founded in 2025 by Ajay Shrihari and Aniket Mohanty, Coral provides an automation platform that integrates with EHR systems, fax lines, and payer portals. Its mission is to reduce administrative bottlenecks in the US healthcare system, enabling staff to focus on patient care by automating document processing and communication tasks.

Funding Details

Company Website: https://www.trycoral.ai/

Company: Coral
Raised: $12.5M
Funding Date: April 20, 2026
Lead Investor: Lightspeed, Z47
Software Category: Healthcare Technology
Source: https://www.globenewswire.com/news-release/2026/04/20/3277033/0/en/coral-raises-12-5m-to-automate-healthcare-s-back-office-by-working-with-not-against-the-fax-machine.html