Healthcare technology company basys.ai has successfully raised $2.4 million in an oversubscribed pre-seed funding round to further its mission of empowering payers to streamline processes such as prior authorization and utilization management. The company was co-founded in 2022 at Harvard University by Amber Nigam and Jie Sun, both Harvard alumni.
The funding round was led by Nina Capital, a specialized venture capital firm with expertise at the intersection of healthcare and technology. Notable participants in the round include Eli Lilly & Co., Mayo Clinic, Two Lanterns Venture Fund, Asset Management Ventures, and Chaac Ventures.
basys.ai’s platform engine utilizes generative AI and is trained on over 10 million patient records and claims. It automates payer policy encoding, allowing for personalized care approvals and expediting prior authorization requests. The company’s solution aims to reduce administrative burdens and expenditures for health plans while improving transparency for both members and providers. Additionally, the platform features a generative AI chat feature to automate responses to member and provider queries.
Amber Nigam, co-founder of basys.ai, emphasized the importance of streamlining prior authorization for optimal care delivery and stated that the funding round positions the company to facilitate positive change for health plans across the nation. basys.ai plans to use the funding to expand strategic partnerships with health plans and continue its efforts in healthcare innovation.
For more information about basys.ai and its healthcare technology solutions, please refer to the official company announcements and website.