Nym Health, an Israel-based provider of autonomous medical coding technology, raised $16.5m on Tuesday in a series A round led by GV, a corporate venturing vehicle for internet and technology group Alphabet.
Bessemer Venture Partners, Dynamic Loop Capital, Lightspeed Ventures Partners, Tiger Global Management and angel investors including Zach Weinberg and Nat Turner from healthcare technology producer Flatiron Health also participated in the round.
Founded in 2018 by two former members of the Israel Defence Force’s 8200 cybersecurity unit, Adam Rimon and Amihai Neiderman, Nym has developed a software platform that helps healthcare providers manage their revenue cycles.
The startup had previously closed a $6m seed round in June 2019 that was led by Bessemer Venture Partners.
Ben Robbins, venture partner at GV, said: “The process of translating medical notes into billing codes is a cumbersome and manual process, and a top pain point for many health systems in the US.”
