Coral Raises $12.5M Seed Round

NEW YORK—Coral, a health care automation company, announced a $12.5 million investment led by Lightspeed and Z47. 

“Every person in the health care system is being slowed down by the same thing: administrative work that was never built to scale,” said Ajay Shrihari, founder and CEO of Coral. “The coordinator chasing faxes. The patient waiting on a referral. The clinician buried in prior authorizations. When you automate the right things, all of them win at once. That is what Coral is building, and we are just getting started.”

Coral says it is based on one principle: Do not replace the fax, automate around it. Instead of asking providers to rebuild their infrastructure, Coral connects to existing electronic health record systems, fax lines and payer portals and automates end-to-end administrative workflows for specialty healthcare providers, including durable medical equipment (DME) suppliers and infusion centers. The platform handles intake, prior authorization, fax processing and patient communications without requiring providers to change how they work.

Coral began by serving DME providers, proving the model in one of the most fax-intensive corners of outpatient care. As it scaled, the same pattern appeared across every new specialty it entered. The administrative bottleneck was not a DME problem—it was a health care problem, the company found. 

“Health care is one of the hardest environments to automate, given legacy systems and fragmented workflows, yet Coral is delivering real outcomes at scale,” said Rohil Bagga, investor at Lightspeed. “Their product is already being used by some of the largest customers in the U.S. to dramatically reduce patient intake times and first-pass denials. At Lightspeed, we’ve had the privilege of being part of Coral’s journey since day one, and we’re excited to continue supporting the team as they transform the health care industry”.