$10M in Series B funding closed by Madaket Health

By StartUp City | Thursday, July 26, 2018

Madaket Health led by co-founder and CEO Jim Dougherty implements could based healthcare SaaS platform solution that simplifies administrative data exchange between payers and providers. It automates the enrolment process which results in less paperwork and faster payment. The company's two offerings - EDI Enrolment and Payer Enrolment/Credentialing, automate the manual, error-prone and redundant processes in common payer-provider transactions. 

This Cambridge, MA-based company closed $10M in Series B funding. The round that was led by Qiming Venture Partners also had additional investor participation from Experian Ventures, The PNC Financial Services Group, and Salesforce Ventures. This funding will allow Madaket to extend its platform solution.

EDI Enrolment streamlines Electronic Funds Transfer (EFT), Electronic Remittance Advice (ERA) and Electronic Data Interchange for Claims (EDI) on behalf of providers. To the present day, the company has processed more than 1.5 million EDI enrolments for customers who have 1.3 million providers under contract to be enrolled on the platform.

Madaket’s Payer Enrolment solution automates and simplifies the process of credentialing providers with payers.