ikaSystems Raises Funding

ikaSystems, a Southborough, MA-based provider of business process and automation solutions for payers, raised funding from existing investors.

The round reportedly amounted to $15m.

The company intends to use the capital to continue to expand operations.

Led by Joe Marabito, CEO, ikaSystems provides cloud-based solutions for health plans to enter new markets, compete on Federal, state, and private health exchanges, and simplify adherence to Centers for Medicare & Medicaid Services (CMS) regulations.
It offers:
– ikaExchange, a solution supporting payers’ participation in the Federal and state health insurance exchanges, offering exchange connectivity, membership, claims, billing, data management, workflow management, and reporting capabilities
– ikaClaims for Medicare, a claims processing solution for Medicare Advantage and other Medicare lines of business that eases benefit configuration and simplifies adherence to CMS regulations, and
– ikaMedicareGateway Fundamentals, a solution for health plans that streamlines essential business functions and increases enrollment speed and accuracy.



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15/01/2010: ikaSystems Receives Private Equity Financing

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