Jacob Neidhardt
December 17, 2024
SAN FRANCISCO, CA—Anatomy Financial, an innovative fintech company specializing in AI-powered financial solutions for healthcare, has announced the close of a $19 million Series A funding round. Canapi Ventures led the investment, with participation from Lightspeed Venture Partners, further solidifying Anatomy’s mission to modernize healthcare financial workflows.
Bridging Physical and Digital Workflows
Anatomy’s flagship product, an AI-powered healthcare lockbox, simplifies billing and financial operations for medical and dental practices. By converting paper mail—including checks, denial letters, and Explanations of Benefits (EOBs)—into a digital format, the lockbox transforms cumbersome manual processes into efficient, email-like workflows.
Key features include:
• Automated EOB Conversion: Converts paper-based EOBs into electronic remittances (835s), enabling faster reconciliation.
• AI-Driven Classification: Automatically organizes correspondence, reducing time spent on manual sorting and data entry.
“For a healthcare practice to get financial clarity, all mail and payments need to be digitized,” said Sasha King, co-CEO of Anatomy Financial. “Our reimagined lockbox bridges the physical and digital worlds, providing purpose-built, AI-enabled tools for billers and healthcare providers.”
Addressing Inefficiencies in Healthcare Payments
The reliance on paper payments remains a significant bottleneck in U.S. healthcare:
• 27% of insurance payments to medical organizations are issued via paper checks.
• 79% of insurance payments to dental practices are still paper-based.
These manual processes consume valuable time and resources. Anatomy’s lockbox eliminates inefficiencies by automating mail handling, document scanning, and data entry into practice management systems.
Funding Utilization and Future Plans
The newly raised funds will support:
• Platform Enhancements: Adding advanced capabilities to Anatomy’s lockbox and EOB processing tools.
• Market Expansion: Scaling operations to onboard more healthcare providers across the U.S.
• Team Growth: Investing in product development and customer success teams.
Anatomy’s solutions have already gained traction among healthcare organizations, revenue cycle companies, and digital health providers.
Strategic Support from Industry Leaders
As part of the funding round, Neil Underwood, General Partner at Canapi Ventures, and Nicole Quinn of Lightspeed Venture Partners will join Anatomy’s board of directors.
“At Canapi Ventures, we are thrilled to partner with Anatomy Financial, a company driving efficiency and real-time insights for healthcare organizations,” said Underwood. “Their innovative approach integrates AI-powered automation with financial workflows to create lasting value.”
About Anatomy Financial
Founded by healthcare and technology experts, Anatomy Financial automates financial operations for medical and dental practices. Its offerings include EOB conversion, modern lockbox services, and smart reconciliation tools designed to save time and ensure no payment is overlooked.
For more information, visit Anatomy Financial.
