Notable Notches New $100M Round To Help Eliminate Administrative Headaches In Health Care
Summary
Notable’s platform attempts to eliminate much of the repetitive, manual administrative work that accounts for over $1 trillion in costs per year, Kapadia said. The company now works with a few dozen large health care providers and has increased revenue 4x just through the first 10 months of this year compared to 2020, riding a ripple effect from COVID-19, Kapadia said. The pandemic has caused the health care industry to meet a few trends–such as digitization and the staffing crisis–head on, which has led to an increased need to alleviate workflow issues. Caroline Xie, general partner at ICONIQ Growth, said Notable has a large market in front of it as the administrative burden continues to compound in health care, and the COVID-19 pandemic only has exacerbated the industry’s ongoing staffing crisis. “We are excited for Notable to further scale its team to serve more health care providers while they enhance the platform’s capabilities to meet the present and future needs of the sector and improve people’s lives,” she said.
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