RapidClaims, the AI-powered revenue cycle management platform, today announced $11M in funding, which includes an $8M Series A led by Accel with participation from Together Fund, and $3M in previously unannounced seed. Their previous round was led by Together Fund with angel investors from prominent US healthcare organizations, including Oscar Benavidez (Executive Director, Massachusetts General Hospital, Matthew Zubiller (ex-CEO, e4health), Ankit Jain (founder & CEO, Infinitus), and Sachin Jain (healthcare leader), among others. 

The investment will accelerate the company’s go-to-market efforts and enhance its cutting-edge technology that helps healthcare providers prevent claim denials from the mid-revenue cycle—reducing costs by 70% and streamlining reimbursements.

The healthcare industry is facing a growing challenge in revenue cycle management, with claim denial rates rising from 7% to 13%, leading to billions in lost revenue for hospitals and physician groups. RapidClaims is addressing this problem, by revolutionizing the mid revenue cycle with its autonomous medical coding and clinical documentation improvement AI solution—ensuring accurate coding, addressing documentation gaps, verifying medical necessity, and preventing payor-related errors. This comprehensive approach has generated a multi-million-dollar impact for its clients, all while maintaining strict compliance.

“We are live with more than 25 specialties and have achieved high autonomous accuracy in over 20 of those—a level of performance that’s simply unheard of in the market," said Dushyant Mishra, CEO and Founder of RapidClaims. "Our client base spans the largest FQHCs and physician groups to the outpatient and ambulatory surgery arms of major health systems, and our multi-specialty, off-the-shelf AI solution sets us distinctly apart from narrow, specialty-focused tools.” RapidClaims initially focused on the mid-revenue cycle, and now plans to expand into claim adjudication and the end-revenue cycle, offering providers a comprehensive solution to maximize their revenue.

In just one year since its launch, RapidClaims has grown 6x in the past four months, now serving a double-digit client base. The company expects to grow another 5x in the coming quarters and is currently in discussions with multiple leading healthcare groups and institutions, with agreements expected to materialize soon.

Manasi Shah, Investor at Accel, said, “It’s remarkable to see how quickly RapidClaims has scaled in a market as complex as healthcare, reducing implementation timelines from months to mere weeks. We are thrilled by their vision to empower provider systems through deep disruption of RCM workflows and costs. The customer love we have seen is phenomenal, and we think it is just the beginning.”

Speed to Value, Highly Customizable Solutions

A key differentiator for RapidClaims is its speed to value. The platform seamlessly integrates with over 15 EHR systems, allowing hospitals to get started within just a few weeks—whether through a risk-free pilot or full-scale implementation. This rapid deployment significantly reduces the administrative burden, enabling providers to realize financial gains quickly.

“Revenue cycle inefficiencies cost the U.S. healthcare system over $250 billion annually, with claim denials forming a major share of that loss. RapidClaims has taken a truly differentiated approach to solving this problem in the mid-revenue cycle through their AI platform that stands out for its deep customizability and rapid time-to-value—traits that are exceptionally rare in healthcare technology,” said Shekhar Kirani, Partner at Accel. “The team’s agility reflects not just robust technical architecture, but a clear, nuanced understanding of provider workflows and bottlenecks. We are excited to support Dushyant and his team as they reimagine RCM for a smarter, more scalable future.”

Unlike incumbent solutions that require at least 50,000 charts to fine-tune the system, RapidClaims’ few-shot learning mode allows for rapid customization. With coverage across 20+ specialties, most customizations are completed within one week, offering hospitals a highly tailored solution without the high data thresholds of traditional tools. This adaptability has been critical to RapidClaims' rapid adoption and growth.

"We partnered with Dushyant and team as their first institutional check because we believed in the founder, the mission, and the massive opportunity to transform revenue cycle management with AI,” said Manav Garg, the co-founder and managing partner at Together Fund. “In a space riddled with inefficiencies and slow innovation, RapidClaims stood out with its deep empathy for healthcare providers and speed of execution. It’s been incredible to see them scale across specialties and systems so quickly—we believe this team is building something truly category-defining.”

AI-Powered Suite Driving Significant Outcomes

RapidCode

RapidClaims’ autonomous coding solution, RapidCode, is live in more than 20 specialties and processes millions of charts. It delivers 100% chart coverage—far exceeding the 60-80% achieved by incumbents—and consistently reaches 98% accuracy in specialties such as radiology, anesthesia, and labs, while maintaining 94%+ accuracy in more complex fields like surgeries.

RapidCDI

The Clinical Documentation Improvement solution, RapidCDI is engineered for both E&M/outpatient settings and value-based care. The tools scan over 50 patient documents—including MRI, CT scans, and progress reports—to ensure risk-adjusted coding and optimal documentation that meets the precise requirements of E&M levels.

RapidScrub

With its proprietary few-shot learning model, RapidScrub proactively scrubs claims before submission, identifying and correcting errors to reduce denials and prevent revenue leakage.

On average, the platform delivers a 1.7x boost in productivity, a 70% reduction in costs, and accelerates A/R recovery by five days. To encourage adoption, RapidClaims offers a risk-free trial, allowing providers to experience the platform’s impact without upfront investment.

With this new funding, RapidClaims will expand its sales and marketing teams to accelerate growth and continue enhancing its product capabilities. Looking ahead to 2025, it projects an eightfold increase from this already solid base, underscoring the strong market demand and performance of its platform.

If you’re grappling with rising denials, struggling to secure top-notch mid-revenue cycle talent, or facing CMS audits, schedule a risk-free pilot to see how it can transform your processes at rapidclaims.ai.