Arvo, the Brazilian AI-powered platform designed to identify errors and fraud in healthcare transactions, raised $4.5M in a funding round led by Canary and K50. Latitud, Prefaced, and Endeavor Scale-Up Ventures also participated in the round.
The funds will be used to expand Arvo’s tech solutions to cover all stages of healthcare transactions from pre-authorization to final payment. “The main goal is to expand the database and improve the algorithms to handle large volumes of transactions, which currently exceed 80% efficiency”, said the CEO and co-founder Fabricio Valadão.
Arvo AI-powered platform analyzes medical claims data to detect anomalies and inaccuracies. This helps healthcare organizations process claims more accurately, reducing costs associated with fraud and mistakes.
Today, Arvo has already processed $15B in health claims and its portfolio includes clients like Porto Saúde, Saúde Petrobras, Athena, and Unimed Nacional.
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