Sift Healthcare, a Milwaukee, WI-based provider of AI-powered healthcare payment solutions, raised $20M in Series B funding.
The round was led by B Capital, with continued support from existing investors, including Allos Ventures, First Trust Capital Partners and Rock River Capital.
The company intends to use the funds to prioritize team expansion and technology investments in artificial intelligence as it grows its platform.
Led by Justin Nicols, Founder and CEO, Sift Healthcare is a healthcare payments analytics and data science company providing a payments intelligence platform, AI solutions and advanced analytics that enable healthcare providers to fully leverage their payments data to reduce write-offs, accelerate insurance reimbursement, improve patient payment strategies and optimize revenue cycle efficiency.
The Series B funding round followed the launch of Sift’s Payments Intelligence Co-Pilot, RevProtect. Built with collaboration from clinical workflow and service companies, RevProtect provides real-time guidance within clinical workflows that enables utilization review (UR), clinical documentation improvement (CDI) and coding professionals to take proactive and meaningful steps to improve accuracy, prevent clinical denials and reduce avoidable write-offs.
Commenting on the news, Justin Nicols said: “With the support of B Capital, Sift is well-positioned to scale our Payments Intelligence Platform in new and existing markets and expand our impact within the revenue cycle, transforming how providers use their data to optimize payment outcomes.“
