RAAPID Secures Series A Funding to Revolutionize Healthcare Risk Adjustment
RAAPID, a leading healthcare AI company based in Louisville, Kentucky, has secured a significant Series A investment from M12, Microsoft’s venture fund. This strategic funding positions RAAPID to expand its groundbreaking Neuro-symbolic AI platform that is reshaping healthcare risk adjustment.
RAAPID’s explosive growth, marked by a 300% revenue increase in 2024, demonstrates the market’s strong validation of its advanced technology platform. The company has quickly established itself as a trusted partner for major health plans and providers. At the core of RAAPID’s success is its pioneering VisionAI technology, which tackles one of healthcare’s most pressing challenges: making sense of unstructured medical data. While over 70% of medical records exist as unstructured data when shared outside Electronic Health Records (EHRs), RAAPID’s AI engine transforms this complex information into actionable insights, enabling unprecedented accuracy in risk capture and care gap identification.
Chetan Parikh, Founder and CEO of RAAPID, emphasized the company’s broader vision, stating, “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.”
RAAPID’s AI-powered solutions are becoming essential tools for healthcare organizations striving to improve the timeliness and quality of care that all patients expect. The company’s cloud-based risk adjustment platform uses neuro-symbolic AI to identify chronic conditions, determine Hierarchical Condition Category (HCC) codes, calculate risk scores, and analyze population health trends. RAAPID serves organizations that participate in Medicare Advantage, Affordable Care Act (ACA), Medicare Accountable Care Organization (ACO), and Medicaid programs.
The funding from M12 will enable RAAPID to further advance its technology and expand its positive impact on patients, providers, and payers. With this investment, RAAPID is poised to continue its rapid growth and solidify its position as a leader in the healthcare AI industry.
M12, Microsoft’s venture fund, invests in early-stage companies with a focus on AI, cloud infrastructure, cybersecurity, developer tools, vertical SaaS, and Web3/Gaming. Since 2016, M12 has invested in over 100 companies, helping startups accelerate growth through unparalleled access to Microsoft.
RAAPID’s commitment to diversity and inclusion is at the core of its operations. The company believes that diversity fuels innovation, fosters creativity, and drives success. With a team that reflects a wide range of backgrounds, perspectives, and talents, RAAPID is well-positioned to continue its mission to support the healthcare ecosystem with risk adjustment solutions and HCC coding services.
The investment from M12 marks a significant milestone in RAAPID’s journey to revolutionize healthcare risk adjustment. With its advanced AI technology and strong market validation, RAAPID is set to make a lasting impact on the healthcare industry.
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