Healthcare data and analytics company Reveleer announced it secured more than $65 million in a funding round led by Hercules Capital.

WHAT IT DOES

Reveleer offers a payer-focused, AI-enabled workflow, data and analytics platform with offerings pertaining to risk adjustment, quality improvement and member management with the objective of advancing value-based care. The company also provides medical record retrieval and review services. 

The Glendale-based company will use the funds to scale its offerings for payers and providers. 

"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," Jay Ackerman, CEO and president at Reveleer, said in a statement. 

"With this infusion of capital, we can swiftly seize market opportunities and further our mission. We are excited to have Hercules Capital, Inc. as a new financial partner."

THE LARGER TREND

Last year, Reveleer, formerly Health Data Vision, acquired the risk adjustment platform MDPortals. Reveleer combined its offerings with MDPortals' platform, which aggregates patient data from various sources across the continuum of care into one longitudinal health record.

The company purchased Dynamic Healthcare Systems a year before, offering an integrated workflow platform for member management, revenue optimization and risk management. Dynamic worked with health plans participating in Medicare standalone plans, Medicare Advantage, and Medicaid and Exchange programs. 

In 2021, Reveleer secured $65 million in a funding round led by Oak HC/FT with participation from previous investors, including Upfront Ventures and Boston Millennia Partners.