Nine months after announcing our Series A, I am thrilled to share that we raised a $30 million Series B round of funding, led by Dr. Krishna Yeshwant at GV (formerly Google Ventures). I am grateful to our Seed and Series A investors Kleiner Perkins and Coatue Management who set us up well to build a strong team and technology that has already transformed the operations of many of our early customers. This new injection of healthcare focused growth capital will enable us to meet the customer demand that we have been seeing since introducing VoiceRPA to the healthcare world and deliver on the vision of an end-to-end automation platform.
Shyam and I started Infinitus after realizing that almost every person involved in healthcare delivery is overwhelmed with routine and tedious voice processes that have little to do with serving patients other than delaying their care and adding to their bills. The 3.2 billion phone calls are a large part of the $1.1 trillion in administrative spend that burden our healthcare ecosystem every year. The staffing shortages that this sector has been hit with during the pandemic only exacerbate an already dreadful situation. In the last two years, our team has automated phone calls to understand benefits for over 250,000 patients in all 50 states, helped communities in 8 states understand near real time status of COVID-19 vaccine availability, and helped over 35,000 providers and pharmacies save millions of hours of phone call time, resulting in a better patient experience.
This announcement comes on the heels of a tremendous growth period for Infinitus, having grown enterprise revenue by over 300% in the past twelve months. In this period, we have been working with a number of customers and partners including three of the four Fortune 10 companies focused on healthcare. Seeing our customers adopt our platform in record times, win awards for using our service and ultimately serve patients better is a testament to the platform that we are building.
“Infinitus has helped us to support 50% more patients at current staff levels by freeing up tens of thousands of hours per week. Our existing staff is able to spend more time with patients and is seeing significant productivity gains in their back office processes. The fact that we could launch something like this in less than 30 days is an anomaly in healthcare.”
- Eric Willis, VP of Operations, TrialCard
Building technology that enables serving more patients, while reducing the time to therapy and the cost of healthcare has been, and will continue to be, the core focus for our team. With this latest round of funding, we’ll be investing in 3 key areas:
- Expanding the number of phone-call types we automate: Our long-term goal is to replace every phone call with an API call. While we started by automating benefit verifications through our DynamoBV offering, we will shortly support prior authorization status checks and patient refill confirmations.
- Delivering on our vision for end-to-end automation: The world today realizes process automation for tasks that happen on-the-computer. Infinitus automates phone calls, processes that happen off-the-computer. For the first time ever, we want to enable healthcare executives investing in process automation to realize the dream of combining traditional RPA with VoiceRPA to see the kinds of efficiency gains that could not have been dreamed of just a few years ago.
- Building an exceptional team: As excited as I am about the work our team has accomplished, I know that we are just scratching the surface of what is possible. If you are passionate about healthcare and are eager to make an impact, we are hiring across each and every function to power our continued growth.
And if you’re working within our healthcare ecosystem and are interested in learning more about the impact our platform can have for your organization, we’d be more than happy to arrange time to connect with our team.
To Infinitus And Beyond!
Read the coverage of this announcement on Forbes here