Nym Health, a Tel Aviv, Israel-based autonomous medical coding technology provider, raised $16.5m in Series A funding.
The round was led by GV (formerly Google Ventures), with participation from Bessemer Venture Partners, Dynamic Loop Capital, Lightspeed, Tiger Global, and angel investors including Zach Weinberg and Nat Turner from Flatiron Health.
The company intends to use the funds to accelerate sales and marketing activities while scaling product deployment and development.
Founded in 2018 by Amihai Neiderman and Adam Rimon, Nym Health is an autonomous medical coding technology provider that enables fully automated revenue cycle management for healthcare providers. Deployed in 40 hospitals nationwide, Nym’s Clinical Language Understanding technology combines computational linguistics with Medical and Clinical Knowledge to create Clinical Intelligence –– which provides healthcare systems with explainable medical coding and high-quality clinical documentation.
The Nym engine integrates directly with the clients’ Electronic Medical Records systems, processes patient charts, and captures patient visits’ true clinical picture. Once the full understanding of charts is achieved, relevant medical codes are assigned based on the physician documentation, and the coded charts are sent back to clients.