FinTech News
Insurance Payment FinTech Camber Raises $30 Million
A startup looking to make insurance reimbursement payments more efficient has raised a new round of funding.
About the round:
This week, Camber has announced that its raised $30 million. The Series B was led by Andreessen Horowitz while ACME and Craft also participated. To date, the company has now raised a total of $50 million.
Camber is a platform built for improving healthcare reimbursement, including reducing administrative friction for both clinics and patients. Specifically, to date, the service has focused on behavioral health clinics. However, with this new funding, the company intends to expand into supporting home health, long-term care, substance use disorder treatments, and more. It also intends to grow its geographic reach in order to help more patients.
According to Camber, its platform now serves more than 90,000 patients in 40 states. Moreover, the service has managed more than $2 billion in claims over the past two years.
What they’re saying:
Discussing the importance of Camber, co-founder and CEO Christophe Rimann said, “The healthcare system is plagued by inefficiencies, fraud, and delayed reimbursements. It’s unacceptable that small clinics—the backbone of our healthcare system—are shutting down due to cash flow challenges despite delivering high-quality care. At Camber, we believe that by building better software, we can build a future that ensures providers can focus on patients without sacrificing financial stability.”
As for the funding, Rimann noted, “Today is an important milestone and we’re grateful to our providers and investors for supporting our long-term vision to redefine healthcare.”
On the other end of the transaction, Andreessen Horowitz general partner David Haber said, “We invested in Camber because they’re tackling one of the biggest problems in healthcare: the broken reimbursement system. With deep FinTech expertise and knowledge of how data and automation can reduce administrative burdens in healthcare, Camber is redefining how claims are processed—getting providers paid faster and improving patient access to quality care. We’re proud to double down on our investment in Camber as they take on this critical challenge.”
My thoughts:
Looking at Camber’s pitch, it’s easy to see why their platform would be attractive to investors. More importantly, it does seem as though their service could be beneficial to healthcare providers, insurance companies, and — at the top of the list — patients in need of care.
In terms of funding, a $30 million Series B is undoubtedly impressive. Moreover, with the likes of Andreessen Horowitz in their corner, I expect to be hearing much more about Camber following this injection of capital
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