Apixio provides a cognitive computing platform that mines unstructured medical records, such as medical charts and Medicare-reported chronic condition data. The platform extracts an accurate view of a patient’s chronic conditions to help payers and providers deliver more targeted care. Led by CEO Darren Schulte, MD, the company has analyzed data from more than six million patients to date. Apixio raised $19.3m in a Series D venture round and intends to use the funds to develop new applications that create insights for appropriate care and quality measurement. The company’s product focus is on improving care delivery and quality measurement through analytics on unstructured clinical data. The business is headquartered in San Mateo, California. Apixio is a pioneer in applying big data technology, natural language processing, and machine learning to extract and analyze unstructured and coded clinical data. Its solutions enable health plans and large provider groups to more accurately and efficiently determine member risk scores and secure appropriate value‑based reimbursement. The company reports strong growth and customer traction in its Risk Adjustment business. Proceeds from the recent financing will be used to ramp up sales and operations and to further develop its Big Data technology. Apixio positions its products to meet rising demand driven by Medicare Advantage enrollment growth, CMS audit pressure, and ACA requirements. The company is based in San Mateo, California (Silicon Valley). Apixio develops cloud-based healthcare data and analytics platforms that ingest and reconcile coded and unstructured clinical data to create longitudinal patient records. Its core products include the Clinical Knowledge Exchange, Apixio Patient Analyzer, the Population Analyzer, and an HCC Optimizer for Medicare Advantage reimbursement. The platforms present integrated patient information via web-enabled devices and include search tools to surface relevant data for physicians, care managers, and billers. The company positions its technology to reduce clinical and staff burnout through AI automation and to support accountable care organizations, health systems, Medicare Advantage providers, and independent clinics. Apixio is based in San Mateo, California. Financially, the company has raised $5.8M so far toward a $7.8M fundraising goal from private investors.

Total raised

$39M

Funding rounds

3

Latest round

Series D

Latest activity

May 2016