Existing investors Together Fund and Blume Ventures also participated in the round. Healthcare private equity veteran Justin Saks has joined the company as an investor and board adviser.
Founded in 2022 by Chetan Reddy and Vichar Shroff, Confido Health develops artificial intelligence (AI) agents that automate administrative tasks for healthcare providers, including patient calls, appointment scheduling, insurance verification, prescription refills and payment follow-ups.
The company plans to use the fresh capital to expand its CareOS platform across multi-location healthcare organisations and develop additional AI agents for different workflows and specialties.
“Confido is building AI staffing for healthcare. Every provider runs on a different patchwork of systems, and Confido’s platform CareOS along with forward-deployed engineers make deployment seamless, so its virtual employees become an integral part of the workforce,” said Vikram Vaidyanathan, Partner & Senior Managing Director, Z47, in a blog post.
Confido began with voice AI to automate patient calls but has since expanded into an integrated platform that can manage administrative processes across existing healthcare systems. Its software connects with more than 50 systems, including electronic health records, practice management, telephony and billing platforms, without requiring providers to replace their existing technology infrastructure.
The company serves 3,200 healthcare providers across more than 1,500 sites in 27 US states and has grown 15-fold since its previous funding round, the blog post said.
The company raised $10 million last year and $3 million in the year before that. Confido Health is initially targeting multi-location healthcare groups, particularly those backed by private equity investors. Its distribution strategy involves working with private equity firms and subsequently expanding into their portfolio companies.
Its AI agents have achieved handling rates of more than 95% across critical end-to-end office use cases, according to the post. The platform adds the equivalent of three to five full-time employees in operational capacity, on average, within three months of deployment.
The investment comes as healthtech companies increasingly explore AI applications for administrative automation. The startup is addressing administrative inefficiencies in the US healthcare system, where providers struggle with rising operating costs, staffing shortages, and fragmented software systems.