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Coral, a healthcare automation startup targeting administrative processes in the US healthcare system, has raised USD 12.5 million in a funding round led by Z47 (formerly Matrix Partners India) and Lightspeed. The company plans to use the funds to expand its engineering team and hire specialists in healthcare operations.
Founded by IIT Hyderabad alumni Ajay Shrihari and Aniket Mohanty, Coral focuses on automating back-office workflows that are often dependent on manual coordination and outdated tools such as fax machines.
Its platform integrates with existing Electronic Health Records (EHRs) and payer portals, enabling tasks like patient intake, prior authorizations, and insurance verification without requiring providers to change their current systems.
The startup initially operated in the durable medical equipment segment and has since expanded into infusion centers and specialty pharmacies. According to the company, its technology can process handwritten faxes and insurance documents with 99.7% accuracy, reducing intake times to less than five minutes.
Coral is also developing an AI-based workflow builder that allows healthcare providers to create custom automations, along with a co-pilot tool designed to analyse operational data such as claim denials and referral trends.
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