AI Automation company, Akasa secured $60M in Series B funding round

Akasa, a San Francisco-based Artificial Intelligence-powered automation company focused on healthcare, has now secured $60 million in a Series B funding round.

Akasa is founded by the Varun Ganapathi and Malinka Walaliyadde. It offers labs and hospitals with Unified Automation, a flexible Artificial Intelligence-based solution that automates tough and complex operational tasks such as those related to revenue cycle management.

Varun Ganapathi, Ph.D., co-founder, and CTO of AKASA, said, "Unified Automation™ can be deployed entirely remotely, and our proprietary expert-in-the-loop interface with AKASA’s team of revenue cycle specialists ensures exceptions and edge cases are resolved while the system learns in real-time from the actions they take. With continuous machine-learning built-in, the need for costly or time-consuming upgrades and maintenance is eliminated."

Malinka Walaliyadde, co-founder and CEO of AKASA, said, "The company has seen tremendous response to our unique approach to automation. We are incredibly optimistic about the coming year and our long-term opportunity to serve as a catalyst for improving efficiency in our healthcare system at scale. We remain focused on our mission to remedy financial complexity in order to reduce healthcare costs for everyone."

The round was backed by the BOND with participation from the existing investors, which includes the Costanoa Ventures and Andreessen Horowitz. Post funding, Noah Knauf, the General Partner at the BOND, will join the Akasa Board of Director’s team.

The company, as of now, has plans to use the new funds to invest in talent across the organization. News funds will be also leveraged to accelerate the delivery of products to customers, scale the company's operations to meet customer demand. Also plan is to expand sales and marketing efforts to grow its market presence, notes the announcement.