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Wednesday, Dec 6, 2023

Glendale Firm Raises $6 Million

Reveleer, a cloud-based medical data platform in Glendale, this week announced $6 million in Series C financing. The company will use the money to extend its risk adjustment products, advance artificial intelligence initiatives and accelerate bringing its product to market. Last year, the company made more than $10 million in revenue and signed a $16 million multi-year agreement with an undisclosed national health plan, which agreed to use the Reveleer platform for medical record retrieval, review and submission. “We’ve been believers in Reveleer since the start and are excited to double down and continue backing the team,” Kevin Zhang, partner at Upfront Ventures, said in a statement. “As managed care health plans undergo an unprecedented shift towards value-based care, they need, now more than ever, access to and data-driven insights on their patient medical records. Reveleer’s cloud platform gives plans that transparent and compliant access, empowering them to take back control of their quality and risk initiatives.” “This has been a pivotal year for Reveleer, and we are fortunate to have strong investors to support our long-term objectives,” Jay Ackerman, chief executive of Reveleer, said in a statement. “Reveleer is now uniquely equipped to deploy software to more efficiently acquire, manage and govern data in accordance with an ever-changing regulatory environment.”

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