Seattle startup Atlas Well being raises $40M to attach well being techniques with philanthropic support for sufferers
Atlas Well being, a Seattle-based startup that helps healthcare suppliers hook up with sources of philanthropic medical support, has raised $40 million.
Atlas Well being’s software program is constructed on a proprietary database of greater than 20,000 medical monetary support applications. Its Atlas Navigator instrument integrates the database with buyer scientific and monetary techniques, and aids in enrollment and reimbursement. As well as, the corporate’s advocates additionally work remotely and on-site to handle the method.
“Many organizations present monetary support to sufferers, however hospitals and well being techniques should not outfitted to navigate the applications’ complexities at scale. Atlas Well being expands healthcare entry and affordability by fixing this problem,” mentioned Atlas CEO Ethan Davidoff in a press release. “Nobody ought to have to fret about funds whereas battling a life-threatening illness or persistent situation.”
The corporate notes that out-of-pocket medical bills within the U.S. tallied $388 billion in 2020, in accordance with the Facilities for Medicare & Medicaid Companies. Many individuals forgo care as a result of they’ll’t afford it.
Atlas hyperlinks clients with organizations that may alleviate a few of these bills, corresponding to nonprofits that assist most cancers sufferers afford expensive medication.
“Atlas offers an environment friendly method to faucet into the non-public philanthropic market to resolve a important want for each sufferers and suppliers,” mentioned Sundeep Peechu, basic accomplice at Felicis Ventures, which led the financing spherical.
Davidoff based Atlas in 2019. He was beforehand VP of cybersecurity startup RiskIQ, which was acquired by Microsoft final summer season. Software program engineer Bryan Andrade is a co-founder and serves as CTO.
Atlas is now working with 40 hospitals throughout 12 well being techniques and has 49 workers, in accordance with a spokesperson. The worth of its contracts with hospitals and well being techniques grew by 450% in 2021.
The brand new financing brings Atlas’ complete funding to $44.5 million. The Collection A spherical consists of participation from GreatPoint Ventures and Tribe Capital, and from present buyers International Founders Capital and MBX Capital.
