Total amount raised
$205 Millions
Latest funding date
6/1/2024
Location
AKASA has successfully raised over $200 million across multiple funding rounds, with the latest being a Series C round. The company specializes in leveraging generative AI to optimize the healthcare revenue cycle.
Keep reading to explore the intricacies of AKASA's fundraising journey and the investors backing this innovative platform.
What Is AKASA?
Founded in 2018, AKASA is an AI-powered automation company based in San Francisco, California. The company specializes in optimizing the healthcare revenue cycle through advanced generative AI solutions.
AKASA was founded by Andy Atwal, Benjamin Beadle-Ryby, Malinka Walaliyadde, and Varun Ganapathi. Their platform aims to improve revenue outcomes, efficiency, and resource allocation for healthcare providers.
With a team of 101-250 employees, AKASA continues to innovate in the field of healthcare automation, making complex workflows more efficient and effective.
How Much Funding Has AKASA Raised?
- Seed Round
- Amount Raised: $5M
- Date: January 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI-powered healthcare automation platform.
- Series A
- Amount Raised: $20M
- Date: June 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A (Additional)
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support early-stage growth and product refinement.
- Series B
- Amount Raised: $60M
- Date: March 2021
- Lead Investors: Bond, Nancy Xiao
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in talent, scale operations, and expand market presence.
- Series C
- Amount Raised: $120M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance AI capabilities.
Total Amount Raised: $205M. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a prominent venture capital firm based in Silicon Valley. They are known for their investments in early-stage and growth-stage technology companies.
- Investment Focus Areas: Technology, AI, Healthcare
- Notable Investments: Facebook, Airbnb, Slack
- BOND
- Details: BOND is a global technology investment firm that focuses on high-growth companies. They led AKASA's Series B funding round.
- Investment Focus Areas: Technology, Consumer, Enterprise
- Notable Investments: Stripe, Canva, Revolut
- Costanoa Ventures
- Details: Costanoa Ventures is an early-stage venture capital firm that invests in technology companies. They have been involved in multiple funding rounds for AKASA.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Alation, Intacct, Quizlet
- Rancilio Cube Sicaf
- Details: Rancilio Cube Sicaf is an investment firm with a diverse portfolio across various sectors. They participated in AKASA's Series C funding round.
- Investment Focus Areas: Diverse sectors
- Notable Investments: Not specified
What's Next for AKASA?
AKASA stands at the cusp of a significant opportunity in the healthcare sector. With the increasing adoption of AI and automation, the company is well-positioned to reduce administrative costs and improve operational efficiencies. The $60 million Series B funding will enable AKASA to invest in talent, scale operations, and expand its market presence, addressing a substantial market need.
Future fundraising opportunities seem promising, given the successful Series B round and the involvement of high-profile investors. However, challenges such as integrating AI solutions with existing healthcare systems and maintaining data security could pose hurdles. As AKASA continues to grow, potential acquisitions may also be on the horizon to enhance its product offerings.
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