Revena, an artificial intelligence platform focused on automating the hospital revenue cycle, has raised a US$8 million seed round backed by Canary, Flourish Ventures, and Caravela Capital. The company said the financing comes after deployment across more than 60 hospitals and a 20x growth in 2025, as providers seek ways to reduce revenue leakage and administrative burden associated with complex billing processes.
Hospital billing remains heavily manual across many systems, despite the scale of healthcare in both the United States and Brazil. Revena is positioning its software as an operating layer for hospital finance teams, using AI agents to read clinical data, interpret payer contract rules, and generate medical bills faster and with fewer errors. The company said a single medical bill can include more than 500 distinct items and depend on the correct application of dozens of contractual rules, work that can require over 18 hours of manual validation by physicians, nurses, and analysts.
Revena was founded by technology entrepreneurs Mateus Noronha and Diogo Freitas. The platform integrates with major hospital management systems and is designed to reduce billing issues, such as incorrect coding or unbilled services, which can lead to cash-flow delays and operational rework. In its current deployments, Revena reported preventing 6% to 12% of revenue losses, reducing financial operations workload by 65% to 75%, and accelerating medical billing submission by 23%. Based on measured results in client hospitals, the company estimated its approach could help prevent roughly US$4 billion in annual losses across the sector as it scales.
The company is also emphasizing speed of implementation and a performance-based commercial model. Revena said it can demonstrate effectiveness in two weeks, contrasting with technology rollouts in the sector that can take 6 to 12 months. Under its pricing structure, hospitals pay only when the product proves it prevented revenue losses and increased operational efficiency, an approach meant to align with budget constraints and demand for measurable returns.
With the new capital, Revena said it now supports the full revenue cycle, from patient intake to medical billing and collections, expanding automation beyond billing generation.
KEY QUOTES
“The healthcare sector has growing demand, inflation above the market average, and already represents almost 10% of Brazil’s GDP. The market needs solutions that generate returns from day zero, are easy to implement, and adapt to existing processes. Revena was built around these principles.”
“Our clients want to focus on excellence in patient care and reduce administrative and financial headaches. Revena makes that possible.”
Revena’s CEO
“Revena is building the AI-native financial infrastructure healthcare has been missing. By turning revenue cycle into a modern operating layer, the platform is showing how intelligent automation can recover material revenue while simplifying hospital workflows. What impressed us most is the speed at which the team turns complexity into deployable, scalable infrastructure. This is foundational technology for how hospitals will operate financially in the next decade. At Flourish, we are drawn to founders rebuilding core infrastructure, and we believe Revena is helping define the next operating layer for healthcare finance”,
Diana Narvaez, Principal at Flourish Ventures
“We believe that AI enables the solving of complex, large-scale problems, and the pain points in the revenue cycle of healthcare providers fit perfectly within that context. Revena’s impressive growth over the past year, together with the extremely positive feedback from its clients, proves the accuracy of the value proposition and the team’s ability to execute. We are excited to formalize the partnership with Mateus, Diogo and the entire Revena team, and to take part in the company’s journey of building and growth, contributing to a more efficient healthcare industry,”
Izabel Gallera, partner at Canary
