Rivet is a Salt Lake City-based provider of a revenue cycle operating platform for healthcare billing. Its platform offers tools for estimates, underpayments and denials to give patients cost transparency and enable providers to hold payers accountable to contracts. The company currently operates largely in outpatient facilities but aims to elevate the healthcare billing experience across all settings, regardless of size or specialty. Led by CEO Ted Ferrin, Rivet intends to use recent funding to accelerate growth and expand operations. It raised $20.5M in a Series B round. Management is focused on improving the end-to-end billing process from payer to provider to patient. Rivet provides an intelligent healthcare revenue cycle management platform that brings price transparency to patients by enabling providers to give upfront pricing estimates. The platform lets patients pay prior to or shortly after receiving care through convenient channels such as email or text. Rivet leverages machine learning to help providers navigate the complex process of obtaining in-network status with insurers. Its reimbursement contract management tool allows providers to track, audit and benchmark payer contracts across plans. The company plans to use its Series A proceeds to enhance its cost transparency capabilities and grow its team. Rivet was founded in 2018 and is led by CEO Ted Ferrin.

Total raised

$29M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2022