by Musheer Ahmed, Founder & CEO of Codoxo
Today, I am excited to announce that Codoxo, a trusted provider of artificial intelligence solutions, has secured $20 Million in Series B funding.
Our Series B funding is led by QED Investors, who also participated in our Series A round in 2020 and have helped us grow tremendously since then. Additionally, we are thrilled to partner with new investors joining this round of funding, including Sands Capital Global Ventures and 111 West Capital. Other existing investors who participated in this round are Brewer Lane Ventures, Spider Capital, and GRA Venture Fund. This Series B round brings Codoxo’s total funding to about $30 million.
We’re at a critical moment in healthcare. Across the U.S., people are struggling to afford the care they need. We need new ways to contain costs and protect our precious healthcare dollars, which is why Codoxo exists. The investments from our partners will help us deliver upon our mission to re-envision the affordability and effectiveness of healthcare.
At Codoxo, we are proud to be leading a movement across the cost containment industry. A movement driven by the fact that our people, culture, and technology are fundamentally different from any other in the market today. This new round of funding will be used to further advance our long-term roadmap of products and services and support our current product line. It will also help meet the rapidly growing demand for our technology, particularly among government agencies and healthcare payers, along with expansion into the Pharmacy Benefit Managers (PBM) market. And because a movement cannot happen with technology alone, we will expand our team of deep domain experts in the coming months.
This is a momentous time not only for our team but for our customers who trust in our Healthcare Integrity Suite to eradicate fraud, waste, and abuse and ensure payment integrity. The impact we have shown at our healthcare payer and government agency clients by saving significant dollars and delivering rapid ROI in a very short amount of time gives investors an immense amount of confidence to support our mission.
That’s seeing tomorrow, today.
Read the accompanying press release.
