Healthcare AI company RAAPID announced a significant Series A investment from M12, which is Microsoft’s venture fund. And this strategic funding positions RAAPID to expand its groundbreaking Neuro-symbolic AI platform that reshapes healthcare risk adjustment.
RAAPID’s explosive growth – which is marked by a 300% revenue increase in 2024 – showed the market’s strong validation of its advanced technology platform. And the company has quickly established itself as a trusted partner for major health plans and providers. At the center of RAAPID’s success is its advancing VisionAI technology, which tackles one of healthcare’s most pressing challenges: making sense of unstructured medical data.
Even though over 70% of medical records exist as unstructured data when shared outside EHRs, RAAPID’s AI engine transforms this complex information into actionable insights, enabling unprecedented accuracy in risk capture and care gap identification.
RAAPID’s purpose-built Risk Adjustment platform has achieved remarkable results:
— Slashing chart review time by 60-80%
— Surpassing industry standards with 95%+ coding accuracy
— Generating additional appropriate and compliant revenue per member
— Improving risk capture accuracy by 25%
The HITRUST-certified platform stands out for the unique Neuro-symbolic AI approach, combining neural networks with an extensive medical knowledge graph containing over 4 million clinical entities and 50 million relationships. And this technology enables both retrospective analysis and prospective risk adjustment, helping organizations identify and address care gaps to impact patient health positively.
Headed by a team with over 25 years of healthcare technology expertise, RAAPID has collaborated with experts from the top 4 tech giants in developing its clinical AI solutions. RAAPID continues to push the safe boundaries of what’s possible in healthcare AI. The company’s selection as an M12 portfolio company validates its position as a leader in healthcare technology innovation.
As value-based care becomes increasingly important, RAAPID’s AI-based solutions are becoming essential tools for healthcare organizations striving to improve the timeliness and quality of care all patients expect. With this new funding, RAAPID is poised to advance its technology further and expand its positive impact on patients, providers and payers.
KEY QUOTES:
“Our vision extends beyond traditional risk adjustment. We’re creating a future where AI augments healthcare professionals’ capabilities, leading to better patient outcomes and more accurate appropriate reimbursements. This investment from M12 accelerates our mission to transform healthcare through advanced AI.”
– Chetan Parikh, Founder and CEO of RAAPID
“Healthcare organizations are increasingly seeking innovative solutions to manage risk and improve care delivery in value-based arrangements. RAAPID’s AI-driven risk adjustment platform aligns perfectly with our investment strategy. Through M12, we are committed to providing our portfolio companies with access to Microsoft’s resources and expertise to drive significant impact in the healthcare sector.”
– Todd Graham, Managing Partner at M12
