Coral, a healthcare automation startup focused on the US administrative market, has raised $12.5 million from Z47 (formerly Matrix Partners India) and Lightspeed.
The proceeds will be used to scale the engineering team and hire domain experts in healthcare operations.
Founded by IIT Hyderabad alumni Ajay Shrihari and Aniket Mohanty, who were previously founding engineers at LimeChat, the firm automates back-office workflows that typically rely on manual coordination and fax machines.
The platform integrates directly with existing Electronic Health Records (EHRs) and payer portals to handle patient intake, prior authorizations, and insurance verification without requiring providers to change their existing software.
Coral initially launched in the durable medical equipment sector and has since expanded into infusion centers and specialty pharmacies. The firm’s technology handles document processing for handwritten faxes and insurance cards with a reported 99.7% accuracy, reducing complex intake times to under five minutes.
Current product development is focused on an AI workflow builder that allows providers to design custom automations and a co-pilot layer to analyze operational data such as claim denial rates and referral patterns. This investment adds to Z47’s portfolio of AI-driven enterprise companies, which includes firms like Rocketlane and Krutrim.
