Auxa Health, an AI-powered benefit navigation technology solution partnering with payers and providers to enable more efficient and effective care, announced a $5.2 million seed round led by Zeal Capital Partners with participation from existing investor AlleyCorp and new investors K50 Ventures, Laconia Capital Group, and Chaac Ventures.
NEW YORK, April 22, 2024 /PRNewswire-PRWeb/ -- Auxa Health (Auxa), an AI-powered benefit navigation technology solution working with payers and providers to enable consumers to access care more efficiently and effectively, announced today a $5.2 million seed round led by Zeal Capital Partners with participation from existing investor AlleyCorp and new investors K50 Ventures, Laconia Capital Group, and Chaac Ventures. Auxa has emerged as a leading care management co-pilot uniquely positioned to serve as a dedicated partner to healthcare organizations. The funding will be utilized to further develop Auxa's technology, expand benefit coverage, and grow the team.
Auxa was born out of the lived experiences of the founding team who struggled to navigate the complicated health and social care landscape for their own loved ones. The challenge of benefit navigation is so acute that nearly $100 billion in health and social care benefits go unused each year, despite 70% of Americans reporting at least one unmet need. The disconnect is even starker for older adults, patients with multiple chronic conditions, and those experiencing social determinants of health challenges.
Auxa addresses this head-on by offering an end-to-end solution that demystifies benefit and drug coverage details, surfaces eligibility and prior authorization requirements, and efficiently enrolls patients into high-value health benefits.
"We are thrilled to partner with the Auxa team to streamline benefits navigation," said Emily Zhen, Principal investor at Zeal Capital Partners. "One of our key focus areas at Zeal is improving access and affordability of care. Auxa makes it more efficient for patients, caregivers, and care navigators to enroll in and utilize clinical and social benefits to proactively manage their health."
Improving health outcomes and the patient experience is at the heart of Auxa's mission. "We know that not everyone has a caregiver to navigate their needs," said Monica Chopra, CEO and Co-founder of Auxa. "That's why we started Auxa. To make holistic, patient-centered care accessible to everyone across the healthcare ecosystem."
Co-founded by Monica Chopra, former Vice President of East Markets at Oscar Health and a healthcare leader with over 24 years of experience; Samantha Adelberg, a seasoned operator with 10+ years working at the intersection of health and social care; and Dr. Jeffrey De Flavio, a Co-Founder of Pearl Health and founding CEO of Groups Recover Together, Auxa's team has the expertise needed to simplify this complex landscape.
"Auxa's integration products transform the healthcare experience," says Chairman and Co-founder Jeffrey De Flavio, MD. "Patients and care teams get the information they need, instantly."
Auxa supports value-based care providers and enablement organizations and expects rapid growth in the provider and payer space this next year. Visit www.auxahealth.com to explore opportunities to partner with Auxa and discover how you can join a dynamic and growing team.
About Auxa Health
Co-founded by healthcare industry leaders Monica Chopra, Samantha Adelberg, and Dr. Jeffrey De Flavio, Auxa Health is a care management co-pilot that supports seamless benefit navigation. Auxa's payer-agnostic platform demystifies benefit and drug coverage details, surfaces eligibility and prior authorization requirements, and efficiently enrolls patients into high-value health benefits across health plans, state and federal programs, and community organizations. The result is significantly reduced admin burden, improved health outcomes, and increased patient and employee satisfaction.
About Zeal Capital Partners
Zeal Capital Partners is a leading venture capital firm based in Washington, DC that invests in diverse management teams building enduring companies to generate above-market rate returns and impact. Zeal partners with founders who are building high-growth, early-stage businesses across the financial technology, employment pathways, and health equity verticals. Founded in 2020 by Nasir Qadree, Zeal leverages its market-backed Inclusive Investing™ strategy to narrow wealth, skills, and healthcare gaps in the United States, and at scale globally.
Media Contact
Auxa Health, [email protected], https://www.auxahealth.com/
SOURCE Auxa Health
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