Cylerity, a Madison-based healthcare FinTech using AI to accelerate payments to providers, has raised $4m in an oversubscribed seed round and secured a $24m debt facility from First Business Bank.
The round was led by HealthX Ventures, with support from C2 Ventures, Upstream Ventures, Wisconsin Investment Partners, and Tundra Angels. The funding aims to ease financial strain for healthcare providers facing long insurer reimbursement cycles.
Cylerity’s platform uses AI and machine learning to predict when claims will be paid and how much will be reimbursed, allowing funds to be advanced within 24 hours of claim submission.
The company plans to use the funding to expand its engineering and data science teams and strengthen partnerships with healthcare and financial institutions across the US.
Cylerity CEO Ryan Wheeler said, “Providers shouldn’t have to wait months to get paid for care they’ve already delivered. By valuing receivables in real time, we give practices the financial predictability they need to keep operations running smoothly and patients cared for without disruption.”
HealthX Ventures managing partner Mark Bakken said, “Cylerity is tackling one of healthcare’s biggest pain points—payment delays—by bridging the gap between care delivery and reimbursement. We’ve seen firsthand how their platform brings stability to providers and helps them stay focused on patients instead of paperwork by allowing them to get paid within a few days instead of potentially months.”
For more, visit InsurTech Analyst
Read the daily FinTech news
Copyright © 2025 FinTech Global
