Anterior’s AI co-pilot assists in gathering necessary medical documentation. Credit: National Cancer Institute/Unsplash.

Anterior, a start-up leveraging AI to streamline health insurance approvals for medical procedures, has received $20m in a Series A funding round, reported TechCrunch, citing sources.  

The fundraise, at a post-money valuation of $95m, was led by New Enterprise Associates (NEA).  

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Existing investors Sequoia and Neo also contributed to the investment round, alongside angel investors such as Mustafa Suleyman from DeepMind and Inflection AI. 

Founded in September 2022, Anterior’s AI-driven platform assists healthcare professionals in speeding up the insurance approval process.  

This technology is designed to reduce the time spent on administrative tasks, enabling doctors and nurses to focus more on patient care.  

Anterior’s AI co-pilot assists in gathering necessary medical documentation, aiming to lower denial rates and hasten patient access to treatments. 

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Anterior, previously known as Co:helm, was co-founded by Abdel Mahmoud, who transitioned from medicine to technology after experiencing the administrative burdens first hand.  

The company’s current focus is on prior authorisation automation, with plans to expand into other areas of medical administration in the future.  

NEA managing general partner on the healthcare team and co-CEO Mohamad Makhzoumi has now become a member of the Anterior board. 

Cohere Health, another prior authorisation automation provider and Anterior’s competitor, raised $50m in February.  

In other insurtech investment news, last week, Sixfold, a start-up specialising in generative AI for insurance underwriting, raised $15m in Series A funding, led by Salesforce Ventures. 

With the infusion, Sixfold intends to strengthen its R&D programmes, product capabilities, and AI and machine learning engineering team.