Sift Medical Data, a Milwaukee-based healthcare technology startup, closed a $665k seed funding round.
The round was led by The Winnebago Seed Fund with participation from Jeff DeAngelis, President of Northwest Passage Capital. In conjunction with the funding, Mr. DeAngelis, along with two directors appointed by the Winnebago Seed Fund, will join Sift MD’s Board of Directors.
The company intends to use the funds to expand its data science team and will allow for further investment in its proprietary healthcare analytics platform.
Led by Justin Nicols, Founder and CEO, Sift MD provides an artificial-intelligence driven and vertically integrated platform for Revenue Cycle Management (RCM). The company’s healthcare analytics platform holistically leverages medical data from both structured and unstructured sources, and applies machine learning and proprietary text mining technology to uncover key data points that enable revenue cycle management companies to reduce insurance claim denials and increase patient collection rates.