Led · Seed · Nov 2025

Arbiter is building an AI-driven “operating spine” that pulls patient information from disparate electronic medical records, assesses risk, and triggers automated actions like scheduling, referrals, and post-visit follow-ups. The technology originated from a recently acquired data platform from SecondWave Delivery Systems, giving Arbiter an immediate customer base and multi-year contracted revenue. Today the software is already live with more than 1,000 clinicians and several health plans, despite the company being only about six months old. Beyond the current patient-engagement use case, Arbiter plans to add capabilities that handle prior authorizations, home-based care support, and predictive modeling to forecast disease onset or hospital stays. Founder and CEO Michelle Carnahan, formerly president of Thirty Madison and a 26-year Eli Lilly veteran, has assembled a board and advisory roster that includes VillageMD co-founder Dr. Clive Fields and former Kaiser Permanente CMIO Dr. Ainsley MacLean. Future growth may be accelerated through additional acquisitions targeting data-rich healthcare tools that Arbiter can make more AI-forward. The company’s seed financing provides runway for product expansion and the planned 2024 launch of its unified operating spine with a major national payer-provider network.