Assured Raises $19 Million to Enhance Credentialing Services
Assured, a New York City-based company specializing in credentialing services, has announced the successful closing of a $19 million Series A funding round. The round was led by Insight Partners, with participation from First Round Capital and Kindred Ventures.
Company Overview
Assured accelerates the credentialing process, enabling providers to be in-network 30% faster while maintaining compliance across over 2,000 sources. The company is NCQA-certified, and its services can be operational in under 72 hours. This efficiency in credentialing is designed to streamline healthcare operations and improve provider network management.
Leadership and Vision
The company was co-founded by Varun Krishnamurthy, who serves as CEO, and Rahul Shivkumar. Krishnamurthy stated, "Our mission is to transform the credentialing landscape by making it faster and more reliable for healthcare providers and organizations." This funding round marks a significant milestone for Assured as it continues to expand its market presence and enhance its service offerings.
Strategic Investment
Insight Partners, known for its investment in technology-driven companies, led the Series A round. The involvement of First Round Capital and Kindred Ventures further underscores the confidence investors have in Assured's potential to innovate within the healthcare industry.
Planned Use of Funds
While specific plans for the newly acquired funds were not disclosed, it is anticipated that Assured will utilize the investment to enhance its technology platform, expand its team, and possibly explore new markets. These efforts are expected to bolster the company’s capability to offer even faster and more comprehensive credentialing solutions.
Looking Ahead
With this new influx of capital, Assured is well-positioned to continue its growth trajectory and further solidify its position as a leader in the credentialing sector. As healthcare providers increasingly seek efficient solutions to manage their networks, Assured’s services are likely to see heightened demand.
This funding round reflects a growing interest in healthcare technology solutions that streamline administrative processes, and Assured appears to be at the forefront of this movement.