Health Startup Verifiable Receives $27 Million Investment

It may seem simple to know that a doctor on your hospital team is who they say they are. However, poor access to real-time authentication data is causing headaches for healthcare organizations. That's why Verifiable, which automates the authentication process in the healthcare industry, has raised $27 million in funding. Craft Ventures led the round. It was also joined by Highland Capital Partners, 137 Ventures, Cooley and existing investors The Altman Fund and Struck Capital.

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Health Startup Verifiable

First of all, the company has raised a total of $47 million since it was founded in 2020. What do we know about Verifiable? Verifiable helps healthcare organizations reduce the time it takes to reach credential providers from weeks to days by integrating APIs with real-time verification technology. In addition, it automates provider network operations for both providers and payers. This maintains regulatory compliance and operational efficiency. Costs are also reduced.

How has Verfiable progressed over the past 12 months? It has shifted its focus to enterprise customers, winning Humana as a customer. It also has a partnership with Salesforce. Macario said the company has also launched a number of enterprise network management products and modules on the Salesforce platform. It has also expanded its validation and provider data products, he said. In addition, Verifiable has nearly doubled both its headcount and its customer base, which now includes Lifestance, Zelis, Lyra Health, Modern Health, Wheel and Grow Therapy. During the same period, Macario said the company also tripled its revenue. He plans to grow his team, especially in go-to-market. It will expand both the Salesforce partnership and Verfiable's product range.