Infinitus Systems raises $51.5 million Series C funding on the strength of AI guardrails
Industry-leading AI system with guardrails announces new investors including Andreessen Horowitz, and general availability of healthcare AI copilot FastTrack™
SAN FRANCISCO, Oct. 23, 2024 /PRNewswire/ — Infinitus Systems, Inc., provider of the first AI platform specifically built to automate manual healthcare phone calls, has raised its Series C financing led by Andreessen Horowitz.
Andreessen Horowitz and Memorial Hermann Health System joined existing investors Kleiner Perkins, Coatue, and GV (Google Ventures) in investing an additional $51.5 million to accelerate the Infinitus mission of transforming healthcare operations with AI. This brings the company’s total funding raised to $102.9 million.
The healthcare experience for patients and employees is falling short. Inefficiencies in back-office operations lead to delays in access to treatment and contribute to employee burnout from tedious manual processes. Infinitus solves this fundamental problem by enabling payors, providers, and drug manufacturers to automate one of the most time-consuming aspects of healthcare operations — manual phone calls.
“We have an enormous opportunity to transform how the healthcare ecosystem exchanges administrative data,” said Ankit Jain, CEO and co-founder of Infinitus. “We are grateful for the support from our new and existing investors, as this funding will allow us to further scale our impact, continuing to innovate and deliver solutions that meaningfully improve the experience of patients with chronic conditions.”
Infinitus is setting the standard for how AI is used within patient services, much of this due to the strength of its industry-leading AI guardrails, safeguards designed to ensure AI systems operate within ethical, legal, and technical boundaries. The ability to combine guardrails at every level of the Infinitus AI system means the company’s AI products can handle long phone conversations with high accuracy, ensuring customers get the reliable data they need. The AI agent, for example, can navigate hundreds of conversational turns and long context windows, something even the most modern LLMs can’t do.
Unlike other solutions on the market, Infinitus has the ability to use LLMs for their reasoning and extraction capabilities through a coordination layer that restricts conversations to an approved set of topics. This discrete knowledge and action space puts to rest any concerns that the AI might hallucinate.
In addition, the phone calls on which these conversations occur stay secure and compliant, as all Infinitus solutions are HIPAA and SOC 2 Type 2 compliant and run on a HITRUST Certified Cloud.
“Our comprehensive guardrails enable us to create a secure and precise environment for these interactions. This not only minimizes errors but also ensures compliance and trust, which are paramount in healthcare,” said Shyam Rajagopalan, co-founder and CTO of Infinitus. “In addition to enabling our full-call automation, our guardrails play a major role in other products we have developed, including FastTrack™, the Infinitus AI copilot, which is built on many of these same components.”
The purpose-built AI copilot for healthcare, FastTrack enters general availability today. It enables call center staff contacting payors to bypass tedious IVR systems and hold times, reducing administrative task turnaround time and improving patient support.
“The potential for AI to revolutionize the healthcare industry is immense, and Infinitus is well positioned to help customers navigate this time of change,” said Scott Kupor, managing partner at Andreessen Horowitz, who also joined the Infinitus board as part of this investment. “We believe in Infinitus’s vision and are confident that their innovative solutions, like FastTrack, will continue to disrupt the industry and deliver significant value to both their customers and the broader healthcare ecosystem, safely and securely driving efficiency and enabling healthcare providers to focus more on patient care.”
FastTrack is powered by lnfinitus’s purpose-built AI system for healthcare, which draws from a vast knowledge graph of payor intelligence gathered from over 4 million calls and counting. It knows the right numbers to call, can navigate complex IVR systems, and waits on hold on behalf of reimbursement specialists or other call center staff – dropping callers in once a live payor agent answers. Use cases for FastTrack include claims processing, prior authorizations, and benefit verifications, among others.
“We believe this technology can help with workforce shortages by taking on some of the tasks that help support workflow,” said Feby Abraham, PhD, executive vice president and chief strategy officer for Memorial Hermann. “We are always looking for new ways to engage our employees and make them feel better supported. The unique challenges of the past few years have only heightened the need for support in this area.”
FastTrack does not require an integration to get started; API integrations are available, as well as integrations to popular systems of record such as Salesforce. Users of the system get back significant time they would have otherwise spent navigating IVRs, waiting on hold, or composing summary notes – another feature auto-generated by the solution.
FastTrack is the latest achievement for Infinitus, which also announced the launches of its AI electronic benefit verification solutions for patients covered by commercial insurance and Medicare earlier this year. Access to FastTrack can be requested via this link.
About Infinitus
Infinitus automates phone call conversations for leading healthcare companies. Through a combination of a multimodal and multi-modal AI system, human-in-the-loop guardrails, and an extensive knowledge graph, Infinitus automates the collection of data that would traditionally be gathered via human-made phone calls. With Infinitus, customers see a 10% increase in data accuracy often coupled with a 50% ROI over manual approaches. Infinitus supports 44% of the Fortune 50 and 27% of the Fortune 100 healthcare companies. Learn more at https://www.infinitus.ai/
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SOURCE Infinitus Systems, Inc.
