Banjo Health, a Washington, DC-based provider of an AI-powered healthcare technology solutions provider, raised $5M in Series A funding.
The round was led by Epsilon Health Investors, with participation from Spark Growth Ventures, Tau Ventures, General Partner, Gregory Epstein. In conjunction with the funding, Epsilon Health Investors Co-Founder and General Partner Gregory Epstein will be joining Banjo Health’s Board of Directors.
The company intends to use the funds to accelerate expansion into new customer segments including adding health plans to its customer base, and eventually provider clients.
Led by Saar Mahna, CEO, Banjo Health is focused on bringing transparency and automation to prior authorization (“PA”) through a suite of workflow tools and AI modules that offer decision support software to allow pharmacy benefit managers and payors to review PA requests. With its prior authorization solution, pharmacy benefit managers and payors can reduce turnaround time and improve transparency as to specifically why a PA is being approved or denied.
Harmony PA, Virtuoso AI, and Concerto Suite utilize AI and cloud-based technologies to meet all compliance regulations across all lines of business to provide a more accurate, streamlined, and transparent PA process.