Credo Health Announces Oversubscribed $5.25 Million Series Seed Funding
Credo Health Announces Oversubscribed $5.25 Million Series Seed Funding
Denver, Colorado - Jan. 4, 2024 - Credo Health, a leader in technology for value-based care, has successfully secured $5.25 million in series seed funding. FCA Venture Partners led the round with existing investors that include Hannah Grey VC, FirstMile Ventures, and SpringTime Ventures.
Credo Health is the only company that combines both digital and manual medical record retrieval with AI-driven analysis and human expertise to ensure providers have the complete clinical picture of every patient.
This substantial investment reinforces Credo Health’s mission to build the definitive platform for value-based care providers. Its core platform, PreDx, provides the complete clinical picture for every patient while supporting risk adjustment, quality and health equity.
"This investment is a testament to our commitment to fully support providers with the technology they need to succeed in value based care,” said Credo Founder and CEO Carm Huntress, expressing his excitement about the growth they’ve seen in PreDx since launching at the Vive Conference in March just 9 months ago. “It’s clear that value based care providers need a technology partner that not only empowers providers to deliver the highest quality patient care, but also one that ensures accurate, up to date risk adjustment and quality information that meets the latest regulatory guidelines."
Credo Health's forward momentum extends through strategic partnerships, including its recent collaboration with Vim, a middleware platform for healthcare that unlocks access to provider Electronic Health Record (EHR) workflow. This partnership enhances EHR workflow integration with AI-powered medical retrieval and analysis, connecting providers and patients for improved healthcare outcomes.
“We’ve been looking deeply at technology across the value based care market and it was clear to us the team and technology were far superior to anything else we evaluated. We could not be more excited about our investment in Credo and the timing as we continue to see significant growth in value based care,” said Tom Hearn, Partner at FCA Venture Partners and now Credo board member.
Currently working with leading value-based care organizations, Credo Health's PreDx product has yielded impressive results, with organizations achieving much more accurate risk adjustment and quality scores while supporting higher quality care and patient satisfaction scores. These funds will further strengthen Credo's technological infrastructure, expand its sales team and continue driving innovation within the value based care market.
Credo will be attending the JP Morgan Annual Healthcare Conference and is excited to meet with top VBC providers, payers and investors.
About Credo
Credo Health's PreDx product offers a pre-encounter risk analysis, clinical summaries and HEDIS Gap Closure through an AI-enabled analysis of digital medical records, allowing healthcare providers to make more informed clinical decisions and deliver more personalized care. Through its innovative solutions, Credo is transforming healthcare, facilitating better decision-making, and driving meaningful progress in the industry. For more information, visit credohealth.com.
About FCA Venture Partners
FCA Venture Partners is a venture capital firm investing in early-stage healthcare technology and technology-enabled healthcare services companies that improve patient care, reduce costs, or increase efficiency. FCA manages over $225 million and invests across the Series Seed to Series B stages. FCA brings portfolio companies valuable healthcare insights, connections, and board-level experience to accelerate growth and build disruptive and sustainable businesses. Based in Nashville, the epicenter of healthcare innovation, and Charlotte, the FCA team has a decades-long track record including more than 60 investments in the rapidly changing healthcare industry.