A young New York company that is seeking to improve medical billing announced a $12 million Series A round.
Anomaly aims to utilize the funds to expand its team and scale up its business. The Series A round brought the company’s total funding up to $17 million, following a previously unannounced $5 million seed round, which closed earlier this year.
“Our overall goal in our work with insurance companies and providers is to really use technology and deep health care domain expertise to remove that friction between providers and payers, so that we can pay the right amount the first time,” Jacob Shiff, cofounder, president and COO of Anomaly, told TechCrunch. “Imagine that, with your credit card, every month you got your statement and 10% of your charges were just incorrect. That’s the status quo in health care.”
A study on health care spending says that the U.S. spent about 8% of its gross domestic product on “administration and governance," according to TechCrunch.
TechCrunch also reported that 54 publications indicated that more than $300 billion is lost each year on inefficiencies associated with medical billing.
Anomaly was founded in 2020 and currently has fewer than 15 employees. The Series A round was led by RRE Ventures and participated by Link Ventures.
