AI-Powered Provider Credentialing Startup Assured Secures $6M in Seed Funding

Assured, a startup leveraging artificial intelligence to streamline provider credentialing, has raised $6 million in seed funding. The investment round, led by First Round Capital with participation from Kindred Ventures, Bragiel Brothers, and the founders of Atria and Grow Therapy, aims to accelerate the company's AI capabilities and expand its team.

Revolutionizing Provider Credentialing

Assured's AI-powered platform is designed to dramatically reduce the time required for provider credentialing, a process that typically takes between 90 to 120 days. The company claims its technology can fully credential a provider in just two business days, potentially saving healthcare organizations thousands of dollars in lost revenue per provider each month.

"Inherently, Assured exists to enable providers to see patients faster," said Rahul Shivkumar, co-founder and director of Assured. "Today what we've seen with a lot of the organizations we work with is that provider credentialing piece is done extremely manually. People are using spreadsheets and they're doing everything sequentially."

The startup's platform automatically verifies credentials across more than 2,000 primary sources in parallel, significantly reducing the time and effort required for the credentialing process. This efficiency has led to impressive growth, with Assured processing tens of thousands of enrollments and saving its customers hundreds of hours each month. The company reports a 30% month-over-month growth rate.

Industry Impact and Customer Base

Assured's innovative approach to provider credentialing has attracted a diverse customer base, including major health systems like Houston Methodist and digital health companies such as Blossom Health, Summer Health, and Tono Health. The platform's ability to compress months of manual processes into days of automated workflows has garnered attention from various healthcare sectors.

Bill Trenchard, partner at First Round Capital, emphasized the significance of Assured's technology: "Provider operations are healthcare's most overlooked infrastructure problem. Assured built the intelligence layer that healthcare needs to scale. Their combination of deep domain expertise and AI automation doesn't just solve today's bottlenecks. It fundamentally rewrites how provider networks grow."

The startup's success in the healthcare industry highlights the growing demand for efficient, AI-driven solutions in administrative processes. As Assured continues to develop its technology and expand its reach, it has the potential to reshape provider network management across the healthcare landscape.