Confido Health Raises $3 Million to Deploy AI-Powered Digital Workers in Healthcare

Healthtech startup Confido Health raises $3 million in round led by Together Fund

MedMountain Ventures, Rebellion VC, DeVC, and Operators Studio participated in the seed fund. Earlier in 2023, it raised $165,000 in a pre-seed funding round led by Momentum Capital. The New York-headquartered company plans to use the funds to enhance its tech capabilities and expand into new areas, including surgery, orthopaedics, dental, renal, and paediatric specialties.Healthcare technology startup Confido Health has raised $3 million in a seed funding round led by venture capital firm Together Fund. Other participants in the round included MedMountain Ventures, Rebellion VC, DeVC, and Operators Studio, among others. The New York-headquartered company plans to use the funds to enhance its technological capabilities and expand into new areas, including surgery, orthopaedics, dental, renal, and paediatric specialties. "The US healthcare industry spends roughly $1 trillion on staffing, yet there is a shortage of 30 million workers in the country. That is a sharp problem that we have identified, and we are building a software product, what we call artificial intelligence (AI) digital workers, to fill this staffing gap. Whenever there is a need for workers, we plug in our (digital) workers who will perform those tasks related to administrative activities efficiently," said Chetan Reddy, CEO of Confido Health. Founded in 2022 by Reddy and Vichar Shroff, Confido Health leverages AI to automate patient communication and administrative tasks for healthcare providers. Its specialised AI-powered digital workers perform functions such as appointment management, insurance verification, and data entry, among others. Also, the platform integrates with existing healthcare systems in under five minutes using no-code deployment, offering end-to-end task automation without requiring infrastructure overhauls. "Initially we started as an assistant to humans. But over the last one year of building this product, it has gotten to a point where 80% of tasks are done by our digital workers and the remaining 20% by humans," said Reddy. Confido Health is already serving over 20 customers across more than 75 locations in the US. Its engineering team, comprising seven members based in Bengaluru, focuses on product development and technology. The startup previously raised $165,000 in a pre-seed funding round in 2023, led by Momentum Capital. According to Fortune Business Insights, the global AI in the healthcare market was valued at $19.5 billion in 2023. It is projected to grow from $27.7 billion in 2024 to $491 billion by 2032. "By building healthcare AI Agents to tackle complex administrative workflows and deliver tangible results, they (Confido Health) are poised to solve the workforce shortages and cost pressures, and become the essential infrastructure for modern healthcare operations," said Shubham Gupta, cofounder and general partner at Together Fund. Together Fund was established by Girish Mathrubootham and Manav Garg, founders of Freshworks and Eka Software, respectively.

Healthtech Startup Confido Pockets $3 Mn To Fuel Its AI Stack

The platform enables AI workers to manage tasks such as appointment scheduling, insurance verification, and care coordination Healthtech startup Confido Health has secured $3 Mn (around INR 25.5 Cr) in its seed funding round led by Together Fund. The round also saw participation from MedMountain Ventures, Rebellion VC, DeVC, Operators Studio and a host of other healthcare operators. The startup plans to use the fresh capital to improve its AI tech stack and broaden its reach across specialties such as surgery, orthopedics, dental and pediatrics. Besides, it also plans to scale up growth by fostering enterprise partnerships. Founded in 2022, by Chetan Reddy and Vichar Shroff, Confido Health assists healthcare providers in minimising administrative tasks using AI-driven automation. The platform enables AI workers to manage tasks such as appointment scheduling, insurance verification, and care coordination. These digital workers integrate with existing healthcare systems in less than five minutes through no-code deployment, providing seamless end-to-end task automation. "When building Confido Health, we focused on what healthcare providers truly need: tools that don't just automate tasks but take on the operational burden entirely," said Reddy. It claims to serve customers in more than 50 locations reaching over 50,000 patients monthly. The development comes at a time when a number of healthtech startups have seen a host of funding activities lately. For instance, in October, Bengaluru-based healthtech startup Healthify (formerly HealthifyMe) raised an additional $20 Mn to close its Pre-Series D round at $45 Mn. In September, medtech startup Qure.ai reportedly raised $65 Mn (INR 543 Cr) in a Series D funding round co-led by Lightspeed Venture Partners and 360 ONE Asset Management. In August, medtech startup SigTuple raised $4 Mn (over INR 33.5 Cr) in an extended Series C funding round led by Sidbi Venture Capital to ramp up its product portfolio and expansion efforts. In the same month, online healthcare service provider Visit Health secured INR 250 Cr (nearly $29.8 Mn) from PB Fintech's arm, Docprime Technologies, through a mix of capital infusion and secondary share purchase. Meanwhile, healthtech unicorn Innovaccer was in talks with the US-based health and insurance major Kaiser Permanente to raise a funding in the range of $200 Mn-$250 Mn, in a mix of primary and secondary capital. According to Inc42's 'The State Of Indian Startup Ecosystem Report', healthtech startups raised a little over $7 Bn between 2014 and H1 2024 in 886 deals.

Confido Health secures $3M to put AI-powered digital workers on healthcare's front lines

New York, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Despite the rapid adoption of digital tools, healthcare practices still rely heavily on manual workflows, with staff spending countless hours on phone calls, paperwork, and fragmented systems. While most solutions focus on automating individual tasks, Confido Health today announced a $3 million funding round to tackle a more ambitious challenge: creating digital workers that manage end-to-end operations in specialty healthcare practices. Together Fund led the seed funding round, with participation from MedMountain Ventures, Rebellion VC, DeVC, Operators Studio and strategic healthcare operators. The company previously raised a pre-seed round led by Momentum Capital. Confido Health Founders: (L to R) Chetan Reddy and Vichar Shroff Founded by serial entrepreneurs Chetan Reddy and Vichar Shroff, Confido Health represents the culmination of their expertise in AI-driven automation. The founders' journey began with winning a prestigious Lockheed Martin grant for innovative technology, leading to their first venture, DroneNation. This AI infrastructure mapping company operated across India, Australia, and US markets, earning recognition in The New York Times before its successful acquisition. Now with Confido Health, they're joined by Simran Parikh, who brings extensive government healthcare department expertise to the team. "When building Confido Health, we focused on what healthcare providers truly need: tools that don't just automate tasks but take on the operational burden entirely," said Chetan Reddy, CEO of Confido Health. "Our digital workers are designed to integrate seamlessly with legacy systems like EHRs, IVRs, and even outdated communication tools. By automating and optimizing entire workflows, we're not just saving time; we're helping enterprises recover lost revenue and create sustainable growth." Confido Health's platform creates specialized AI workers that handle specific tasks like appointment management, insurance verification, and care coordination. These digital workers connect to existing healthcare systems in under five minutes through no-code deployment, delivering end-to-end task automation without requiring practices to overhaul their infrastructure. Unlike traditional software companies, Confido Health charges on an hourly basis similar to full-time employees, eliminating integration and training fees. "Confido Health's digital workforce represents a culmination of years of research, design, and development, addressing one of the most pressing challenges in healthcare today: operational inefficiencies that hinder patient care," said Vichar Shroff, Co-Founder and Chief Product Officer at Confido Health. "What sets us apart is our ability to create AI solutions that seamlessly integrate with legacy systems, turning fragmented and unstructured data into actionable workflows in real time. This is a transformative innovation that not only optimizes operational processes but fundamentally enhances patient outcomes. This innovation not only frees up clinicians to focus on patient care but also sets a new standard for efficiency and reliability in healthcare operations." The platform processes unstructured data across multiple systems in a HIPAA-compliant manner, enabling real-time task completion. Validated on real-world data rather than public datasets, Confido's digital workers can engage with patients in multiple languages and handle multiple tasks simultaneously -- even during off-hours. Early deployments show customers achieving three times higher patient encounters, with staff completing more tasks while experiencing reduced workload. The platform's development was informed by hundreds of interviews with US healthcare providers, from large systems to small rural practices. The company's most significant deployment is with a nephrology group practice with around 50 locations, where AI-driven workers have become as integral as human staff. Initially viewed as a potential threat, after just one month staff recognized the AI solutions were designed to make their lives easier, not replace them. One large renal group has nearly freed their nurses and medical assistants from patient-facing tasks, with staff only intervening for AI-triaged calls. Similarly, a surgery center client that previously made multiple patient calls over several days has reduced call frequency by 60%. Across deployments, 95% of patients report improved experiences. "Patient coordination is often overlooked, but Confido Health's workflows have transformed our approach by proactively communicating with patients, ensuring they feel cared for, listened to, and understood," said Jacob Zitterkopf DDS MSD, owner of a multi-location dental practice in Colorado. "This not only improves our clinic's efficiency and communication but also enhances the overall patient experience." "Confido Health is redefining the operational backbone of specialty healthcare with its AI-powered digital workforce," said Shubham Gupta, Co-Founder and General Partner at Together Fund. "By building healthcare AI Agents to tackle complex administrative workflows and deliver tangible results, they are poised to solve the workforce shortages and cost pressures, and become the essential infrastructure for modern healthcare operations." Jane Wang, Hospitalist at Stanford, Investor at MedMountain Ventures added "Provider staffing shortages are at an all-time high, fueled by burnout, declining reimbursement, and increased demands on the system. Confido's solution alleviates the burden of shortages of nursing and allied health professional personnel and allows clinical practices to continue serving patients in need that would otherwise not receive care due to lack of scheduling, follow-up, or education". The timing aligns with significant market opportunity. The global AI in healthcare market was valued at $19.5 billion in 2023 (North America dominated the AI in healthcare market with a market share of 44.93%). It is projected to grow from $27.7 billion in 2024 to $491 billion by 2032, setting the stage for Confido Health's expansion. Already serving 15+ customers across more than 50 locations and reaching 50,000+ patients monthly, the company will use this funding to enhance its AI technology and expand across surgery, orthopedics, dental, renal, and pediatric specialties. "The healthcare system desperately needs innovation to raise productivity, enhance staff experience, and improve responsiveness to patients' needs. Confido Health is positioned to revolutionize operations in specialty healthcare practices through its digital AI workers that can autonomously manage workflows, phone calls, and other interactions with patients" added Jukka Alanen. Managing Partner, Rebellion Ventures. Confido Health envisions a future where healthcare providers focus solely on patient care, while digital workers handle all operational tasks. By eliminating administrative inefficiencies through AI that adapts to real-world complexities, the company is building a new standard for healthcare operations - one that delivers both sustainable growth and enhanced patient experiences. Ends Notes to the editor Media images can be found here. About Confido Health Based in New York, Confido Health creates AI-powered digital workers to tackle the operational burdens that hold specialty healthcare providers back from focusing on patient care, increasing revenue, and growing their practices. Confido's digital workers are designed to fit seamlessly into a practice's existing tools and workflows, automating complex tasks like appointment scheduling, insurance verification, and data entry as effectively as a human would. This means practices can streamline their operations, recover lost revenue, and optimize patient engagement without increasing headcount or overhauling their systems. Learn more at www.confido.health. About Together Fund Together Fund is India's first operator-led venture capital firm established in 2021, investing out of their $250M Fund II. Together supports ambitious, purpose-driven teams building in AI across the US/India corridor. Together's investments range from the ideation stage to Series A, with cheque sizes between $1 million and $10 million. Led by founders Girish Mathrubootham, founder of Freshworks and Manav Garg, founder of Eka, Together provides not only capital but also operational expertise and a global network of over 200 operators and founders to help entrepreneurs build, scale, and win together. For further information please contact the Confido Health press office: Bilal Mahmood on [email protected] or +44 (0) 771 400 7257. Market News and Data brought to you by Benzinga APIs