California-based healthcare data and analytics firm, Reveleer, has successfully raised over $65 million in a recent funding round led by Hercules Capital. This investment marks a significant milestone for the company, coming two years after its last $65 million funding round.
Reveleer specializes in AI-enabled workflow, data, and analytics platforms tailored for payers, focusing on risk adjustment, quality improvement, and member management to advance value-based care. The company is also known for its medical record retrieval and review services.
The funding infusion will be instrumental in scaling Reveleer’s offerings for both payers and providers, supporting the company’s mission to enhance value-based care. Jay Ackerman, CEO, and President at Reveleer expressed the impact of the funding, stating, “This funding will have a tremendous impact as it positions us to strategically pursue inorganic growth opportunities in value-based-care technology, accelerating innovation and enhancing patient care through healthcare AI technology.”
Reveleer plans to utilize the capital to swiftly capture market opportunities, further its mission, and pursue strategic growth in the value-based care technology landscape. Ackerman expressed enthusiasm about the new financial partnership with Hercules Capital, Inc.
In recent years, Reveleer has made strategic acquisitions to strengthen its position in the healthcare data sector. In 2021, the company, formerly known as Health Data Vision, acquired the risk adjustment platform MDPortals. The integration of MDPortals’ platform, which consolidates patient data from various sources into one longitudinal health record, complemented Reveleer’s existing offerings.
A year prior, Reveleer acquired Dynamic Healthcare Systems, an integrated workflow platform specializing in member management, revenue optimization, and risk management. Dynamic Healthcare Systems collaborated with health plans participating in Medicare standalone plans, Medicare Advantage, and Medicaid and Exchange programs.
Reveleer’s previous funding round in 2021, which secured $65 million, was led by Oak HC/FT, with participation from existing investors such as Upfront Ventures and Boston Millennia Partners. The continuous support from investors underscores the industry’s confidence in Reveleer’s commitment to advancing healthcare through innovative AI-driven solutions.
