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Anterior secures $20M from NEA to use AI to speed up health insurance approvals

fronta company that uses AI to speed up health insurance approvals for medical procedures, raised $20 million in a Series A round led by NEA. Sequoia, an existing investor that led Anteria’s investment, said in a statement. It raised $3.2 million in seed funding last September.and Neo, the accelerator that helped launch the company in the summer of 2022, also participated in the Series A funding.

The round also included a number of angel investors, including Mustafa Suleiman, the co-founder of DeepMind and Inflection AI who was hired by Microsoft in March to lead the company’s consumer AI division.

NEA and Anterior did not immediately respond to requests for comment.

Anterior, formerly known as Co:helm, was co-founded by Abdel Mahmoud, a former physician who, frustrated with the amount of time spent on administrative tasks rather than his patience, left the medical profession to get a master’s degree in computer science and embark on a career in tech.

The company developed an LLM-powered co-pilot that can save nurses and doctors time spent gathering medical documentation required by insurance. Anterior’s solution aims to reduce denial rates and speed up patient access to care.

Anterior’s initial service will be prior authorization automation, but the company plans to eventually expand into other medical management functions.

Mohammad Mahzoumi, managing general partner of NEA’s healthcare team and co-CEO of the firm, has joined Anteria’s board of directors. Mahzoumi’s investments include Tempus, a genomic testing and data analytics company founded by Groupon founder Eric Lefkofsky, which is set to IPO next week at a $10 million valuation. Up to $6.1 billionMakzoimi also invested in Xaira, an AI drug discovery startup that was founded with $1 billion in funding this year.

Antelia competes with Cohere Health, another provider of prior authorization automation, which raised $50 million in a funding round in February. Deerfield ManagementParticipation: Definition of venture, Flare Capital Partners, Longitude Capital and Polaris PartnersThis brings the five-year-old company’s total funding to $106 million.


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