Total amount raised
$42.9 Millions
Latest funding date
Location
Apixio has successfully raised funds through multiple rounds, with its latest being a Private Equity round closed on May 3, 2023. The company has garnered support from notable investors, including New Mountain Capital and First Analysis.
Keep reading to explore the intricacies of Apixio's fundraising journey and the investors backing this innovative healthcare AI platform.
What Is Apixio?
Founded in 2009, Apixio is a pioneering company in the healthcare AI industry. Based in San Mateo, California, the company was established by Bob Rogers, Imran Chaudhri, Shahin Hedayat, and Shawn Dastmalchi.
Apixio specializes in providing AI-driven solutions that enhance the efficiency and accuracy of health plans and providers. With a workforce of 101-250 employees, the company leverages advanced technology to streamline risk adjustment, payment integrity, and health data management.
How Much Funding Has Apixio Raised?
- Series A
- Amount Raised: $501.3K
- Date: December 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop the core AI technology.
- Series A
- Amount Raised: $2.8M
- Date: March 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $5.8M
- Date: August 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the AI platform.
- Debt Financing
- Amount Raised: $980K
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational costs and product development.
- Series C
- Amount Raised: $13.5M
- Date: May 2014
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and further develop AI-driven solutions.
- Series D
- Amount Raised: $19.3M
- Date: May 2016
- Lead Investors: SSM Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development, operations, sales, and marketing.
- Private Equity
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: New Mountain Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance capabilities and expand market presence.
Total Amount Raised: $42.88M
Current Valuation: Not publicly disclosed
Key Investors
- SSM Partners
- Details: SSM Partners is a private equity firm that invests in high-growth companies in the healthcare and technology sectors. Casey West, managing partner at SSM Partners, joined Apixio's Board of Directors.
- Investment Focus Areas: Healthcare, technology, value-based healthcare solutions.
- Notable Investments: Apixio Inc.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in early to growth-stage companies. It is part of Bain Capital, a global private investment firm.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Apixio Inc., LinkedIn, DocuSign.
- First Analysis
- Details: First Analysis is a leading venture capital investor, providing capital and guidance to high-growth companies. They focus on sectors where they have deep domain expertise.
- Investment Focus Areas: Healthcare, technology, environmental technology.
- Notable Investments: Apixio Inc., Health Catalyst, Livongo.
- New Mountain Capital
- Details: New Mountain Capital is a private equity firm that focuses on building and growing businesses in defensive growth industries. They acquired Apixio in a private equity round.
- Investment Focus Areas: Healthcare, business services, technology.
- Notable Investments: Apixio Inc., Equian, Zep.
- First Analysis
- Details: First Analysis is a leading venture capital investor, providing capital and guidance to high-growth companies. They focus on sectors where they have deep domain expertise.
- Investment Focus Areas: Healthcare, technology, environmental technology.
- Notable Investments: Apixio Inc., Health Catalyst, Livongo.
What's Next for Apixio?
Apixio stands at the cusp of significant growth, driven by the increasing demand for personalized healthcare and the need to reduce costs. With the cognitive computing market projected to reach $5 billion by 2022, Apixio's advanced AI solutions are well-positioned to capture a substantial share. The company plans to expand its product development, operations, and market reach, leveraging its successful HCC Profiler Solution and the vast data it has already analyzed.
Future fundraising opportunities appear promising, given the strong backing from investors like SSM Partners, First Analysis, and Bain Capital Ventures. These funds will likely support further innovation and expansion, enabling Apixio to stay ahead in a competitive landscape. However, the company must navigate challenges such as data privacy, regulatory compliance, and competition from major players like IBM.
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