NEA Leads Basalt Health’s $20M Series A for Post-Acute Admissions
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Basalt Health has raised a $20 million Series A led by returning investor NEA. Existing backers Frist Cressey Ventures and 25m Health also put money in, bringing the company’s total capital raised to about $24.5 million.
The company is headquartered in Nashville. The Tennessee startup runs an AI platform built to get patients into post-acute care faster.
Around 14 million patients enter post-acute care every year, and the way they get placed has barely changed. Case managers typically fax long clinical packets to an average of 6.6 facilities per placement and then wait for a suitable bed to come back. Those delays and mismatches feed into an estimated $17 billion in avoidable readmission costs each year.
Basalt reads each referral the moment it lands, whether it comes by fax, through a portal or via a direct EMR integration, and checks it against a facility’s clinical criteria. From there it supports the steps that follow, including admissions, benefits checks and prior authorizations. The point is to help healthcare teams land on fast, consistent and defensible placement decisions rather than just shuffling documents around.
The platform has been live with Lifepoint Health since Basalt’s seed round in 2025, cutting median chart processing time from 8.5 minutes to 1.2 minutes, an 86% drop. Basalt is being rolled out to 49 more Lifepoint markets by the end of 2026. It is also scaling to 62 ScionHealth hospitals in the same timeframe, where it will handle every incoming referral across a network of more than 6,000 practitioners. Together that puts Basalt in 111 markets by year end.
Founder and CEO Ben Hackett started Basalt in 2024 after nearly a decade at Accolade. His mother and grandmother were both nurses, which gave him an early look at the demands of clinical work.
Basalt will use the funding to extend its platform from admissions into discharge and payer workflows. It also plans to grow its sales, marketing, implementation and engineering teams.
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