Kode Health, a provider of an AI-driven medical coding platform that connects healthcare systems with certified medical coding professionals, raised $27 million in Series B funding.
Noro-Moseley Partners led the investment round with participation from Mercury, FCA Venture Partners, Epsilon Innovation Fund, and 111 West Capital.
Kode Health intends to use the new equity funds to expand its network of certified medical coding professionals and further, the development of AI-driven coding tools that are already used by many hospitals and providers in the U.S. The company has a growing customer base of over 5,500 certified coding professionals who have coded over 8 million medical records to date.
“KODE was born out of the healthcare industry’s fundamental need for more efficiencies and cost savings across the coding ecosystem, and ultimately, bring together medical coding professionals, and hospital systems through a dynamic, easy-to-use marketplace,” said Brian Dessoy, Co-Founder of KODE Health. “We’re thankful to our investors and partners for their ongoing support of our mission and look forward to continuing to scale.”
“As we enter our next phase of development, KODE is looking to grow beyond our core focus on staffing to develop technology-first solutions leveraging AI and predictive analytics aimed at further transforming revenue cycle management,” said Brad Sawdon, Co-Founder of KODE Health. “This latest capital infusion will allow us to further invest in product development, enhance our existing platform, and scale our world-class team of Koders.”