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NEW YORK–(BUSINESS WIRE)–Capitol, an AI solution that helps healthcare insurers make critical decisions by visually unlocking data and bypassing decision-making bottlenecks, announced the closing of its $10 million funding round dollars with funding from 468 Capital, Designer Fund, Fuel Capital, Tokyo Black (Founder of Looker), Brian Chesky (Founder/CEO, Airbnb), Chase Coleman III (Founder, Tiger Global), Nomad Capital, AirAngels, Sanno Capital and John McCormick (formerly Blackstone). The company’s Data Stories platform uses artificial intelligence to generate insights that give healthcare users new access to data to instantly fight fraud, spot cost savings and improve quality of care health.
The funding round was led by 468 Capital. The company will use the funds to advance the platform, move out of stealth, and continue its adoption in healthcare. The platform will initially be used to help insurance executives find cost savings, improve member engagement and improve quality of care.
Most healthcare users are not data scientists but live in a data-intensive, sensitive, complex and ever-changing industry. A key feature of the Capitol Data Stories platform is the creation of an interface that builds on existing data analytics investments, but is geared toward business users. Data Stories give sales teams unprecedented access to data insights to make better decisions faster and stay ahead of customer demand. Already one of the top three US health insurers will deploy the technology as a customer this year.
“Most healthcare analytics tools aren’t designed for professional users, which means generating insights is extremely slow and relies on cumbersome legacy products,” said Capitol CEO Shaun Modi. “We solve this by letting our platform do the work and let the AI find the information. We create a visual story for our users that gives them a guided analysis experience without being a data or design expert. »
“Hiring data scientists and analysts to solve every data question has proven time and time again that it doesn’t scale effectively,” says Keenan Rice, investor and founding team member of Looker. “However, the need for analytics and actionable insights in organizations is only growing. With Capitol’s approach, users face problems and opportunities in their data, in real time, without a data team needing to perform the analysis. Capitol will fundamentally change the way anyone in an organization makes decisions.
“Capitol has assembled a proven team with expertise in design, healthcare analytics, and advanced data systems; that, combined with experience building healthcare startups and businesses, is a winning combination,” says Florian Leibert, 468 Capitol.
About the Capitol
Capitol helps health insurers make critical decisions by eliminating the need for data scientists. The company’s Data Stories platform creates visual tools that bypass decision-making bottlenecks and give users instant tools to fight fraud, spot cost savings and countless other business decisions. Its founding team includes healthcare, data science and product design experts from Airbnb and Signify Health. The company is headquartered in New York and its investors are 468 Capital, Designer Fund, Fuel Capital, Tokyo Black (founder of Looker), Brian Chesky (founder/CEO, Airbnb), Chase Coleman III (founder, Tiger Global), Nomad Capital, AirAngels, Sanno Capital and John McCormick (formerly Blackstone).
