Nirvana, a pioneering health tech company, today announced a significant boost to its mission of bringing transparency to health insurance processes.
The firm has successfully secured $24.2 million in Series A funding led by Northzone, with contributions from Inspired Capital, Eniac Ventures, and Surface Ventures.
Specializing in eligibility and insurance verification, Nirvana harnesses artificial intelligence to illuminate the often opaque world of healthcare benefits. Their technology offers real-time insurance verification and precise cost estimates, empowering patients and providers alike. This breakthrough approach enables a more transparent healthcare experience, mitigating the risk of unexpected costs for patients and streamlining operations for providers.
The fresh capital will fuel Nirvana’s expansion into new healthcare specialties, enhancing their AI-driven platform to cater to a broader array of medical fields. The founders, Akshay Venkitasubramanian, Urvish Parikh, and Kelvin Chan, envision this funding as a key driver in scaling their operations and broadening the reach of their innovative solutions.
Their technology not only simplifies insurance verification but also integrates seamlessly with existing healthcare management systems through APIs, EHR/EMR integrations, or the universally accessible web/mobile application, OneVerify.
Akshay Venkitasubramanian, CEO of Nirvana, said, “Healthcare providers and patients alike have suffered from the opaque and inefficient insurance verification process for far too long.
“With this new funding, we’re poised to supercharge our expansion into more specialties, helping more providers streamline their operations and offer patients the cost transparency they deserve. We’re building the eligibility management platform that will transform how payments are made in the healthcare industry.”
Wendy Xiao, Partner at Northzone, also expressed enthusiasm about Nirvana’s trajectory. “Nirvana is addressing a critical pain point in healthcare administration with a truly innovative approach. Their AI-powered solution not only improves operational efficiency for providers but also enhances the patient experience through greater transparency. We believe Nirvana has the potential to become a category-defining company in the healthtech space, and we’re excited to support their mission to transform healthcare administration.”
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