The Venture Codex

Led · Seed · May 2026

XCaliber Health offers an agentic operating system that connects EHRs and other healthcare systems to orchestrate semi-autonomous workflows with human oversight. The platform delivers pre-built agents for interoperability, analytics, scheduling, prescription refills, referral coordination, and care gap management. XCaliber reports processing more than eight million chart updates and generating over 160,000 EHR updates daily across more than 700,000 unique patients, and its prescription refill agent saves providers an average of six hours of manual work per day. Customers include health systems, provider groups, and digital health partners, and the company emphasizes a human-in-the-loop structure and varying levels of autonomy for different agent functions. With the newly announced seed funding, XCaliber plans to accelerate product development and scale the platform nationwide.

Led · Seed · Apr 2026

Flora offers individually-owned fertility insurance policies that cover diagnostics, medications, intrauterine insemination (IUI) and in vitro fertilization (IVF). Policies are available in the U.S. starting at about $20 per month and the platform already reaches over 10 million prospective policyholders across North America. Flora combines proprietary underwriting, individualized risk modeling, AI and omnichannel distribution, and is backed by A-rated insurance partners and a global reinsurance panel. The company plans to expand distribution and underwriting capabilities to grow access to proactive family-planning coverage in the U.S. and then Canada. Financially, Flora has just completed a $5M seed round to fund that expansion and category creation efforts.

Led · Series A · Feb 2026

When, founded by Andy Hamilton and Dan Wertheimer and based in Chicago, offers a software platform that guides organizations and their employees through healthcare and benefits changes triggered by events such as early retirements, career pivots, involuntary exits, Medicare eligibility, and other coverage transitions. The solution aims to reduce employer costs while delivering personalized support to transitioning workers. Since its launch in 2024, more than 6,000 companies have adopted the platform, giving over 1 million employees access to its tools. Current functionality centers on simplifying benefits navigation, but the company plans to broaden its coverage to additional transition scenarios, including Medicare and early retirement pathways. Proceeds from its recent Series A will be used to expand the team and enhance product capabilities to serve a wider array of workforce transitions. The company’s traction across thousands of employers demonstrates early product-market fit and provides a growing revenue base, although specific revenue figures were not disclosed.

Led · Series A · Jan 2026

Salvo Health offers brick-and-mortar gastrointestinal (GI) clinics a continuous virtual care platform that connects patients with a specialized, gut-focused care team. Users gain direct, ongoing access to registered dietitians, behavioral-health professionals, and nurses, helping clinics save time, boost revenue, and improve outcomes. In 2025 the company reported 800% year-over-year growth in both patients and revenue and expanded enterprise agreements with GI doctors by more than 1,000%, reaching 801 signed GI partners. Led by CEO Jeffrey Glueck, COO Marin Rothenberg, and CMO Dr. Erin Hendriks, the company is now building an AI-driven product roadmap. The new funding will finance engineering expansion and nationwide hiring of additional clinical staff to meet rising demand. Salvo Health positions itself at the intersection of virtual specialty care and chronic condition management, with ambitions to scale its platform nationally.

Participated · Series A · Sep 2025

Penguin Ai’s flagship platform combines task-specific Small Language Models (SLMs), proprietary language models, APIs and out-of-the-box Digital Workers and Agents to automate back-office healthcare workflows such as medical coding, prior authorizations, claims adjudication, appeals management, risk adjustment, chart summarization and payment integrity. The company emphasizes a full-service platform approach rather than point solutions, including tooling to prepare data for AI, pre-built healthcare LLMs, and governance and bias-correction capabilities for security and fairness. Penguin Ai says it has secured key partnerships with health plans, providers and technology organizations and is collaborating with customers to accelerate development of its enterprise-grade platform. Leadership is led by founder and CEO Fawad Butt, the former chief data officer of UnitedHealthcare, Kaiser Permanente and Optum, and the team brings collective experience from major payer, provider and tech organizations. The company positions its technology to reduce the industry’s estimated $1 trillion administrative burden and to lower operational costs while improving accuracy and efficiency. Penguin Ai plans to use recent funding to support hiring, product development, and scaling deployments with payers and providers.