Anterior, a company utilizing AI to streamline the approval process of health insurance for medical procedures, has successfully completed a $20 million Series A round at a $95 million post-money valuation. The funding was spearheaded by NEA, with participation from existing investors Sequoia and Neo, as well as contributions from angel investors including Mustafa Suleyman, a co-founder of DeepMind and Inflection AI.
Founded by Abdel Mahmoud, a former doctor turned computer science master’s graduate, Anterior was initially known as Co:helm before undergoing a rebrand. The company’s focus lies in developing an AI-driven co-pilot that assists nurses and doctors in efficiently gathering necessary medical documentation for insurance purposes, ultimately aiming to reduce denial rates and expedite patient access to care.
Anterior’s immediate focus is on improving prior authorization processes, but the company has plans to expand into other areas within medical administration. Along with the recent funding round, NEA’s Mohamad Makhzoumi has joined Anterior’s board, bringing with him a wealth of experience in healthcare investing.
In a competitive landscape, Anterior faces competition from Cohere Health, another provider of prior authorization automation. Cohere Health recently secured a $50 million funding round led by Deerfield Management, further highlighting the growing interest in companies streamlining administrative functions within the healthcare industry.
