Cogitativo secures $18.5Mn from its Series B financing round
Date: 2019-12-19   Author: Pankaj Singh  Category: #market

Cogitativo secures $18.5Mn from its Series B financing round

Cogitativo Inc., a U.S.-based data-science-as-a-service (DSaaS) company focusing on healthcare organizations, has recently raised $18.5 million from a Series B funding round led by Wells Fargo & Company’s wholly-owned subsidiary Wells Fargo Strategic Capital (WFSC).

According to reliable sources, the capital would be used to support product advancement of AI-driven solutions to remediate and identify areas of inefficiency and waste in the arrangement of healthcare financing.

Apparently, Cogitativo's machine learning platform has the potential to develop the expanding market of healthcare by allowing providers and payers to recognize and challenge system intricacies. In addition to this, over the past couple of years, Cogitativo has managed to triple its expansion rate and has unveiled new DSaaS that is focused on areas of anomaly detection and payment integrity.

Speaking on the move, Gary Velasquez, CEO, Cogitativo, said that the company is delighted to see this support from its new investors. The firm believes that this funding would help validate its mission of positively impacting the U.S. healthcare system. It would also allow their firm to focus on creating faster and better solutions that are based on healthcare operational performance management.

Reportedly, earlier this year, Cogitativo had appointed Eric Schenk as the Executive Vice President for the organization. According to reports, Schenk will be responsible for leading the firm’s client relationship management, business development, customer service and sales organization. 

Commenting on the move, Velasquez said that their firm is pleased with the ongoing expansion of its team. As the healthcare industry continues to find new solutions to most the complex challenges, Cogitativo is growing as an organization to meet its customers’ demands to manage complexity and uncertainty.

Moreover, they are pleased to have Eric join their team who would help expand and formalizes the firm’s ongoing commitment to enhancing its clients' experience in the U.S. healthcare system.

Source Credit: https://www.prnewswire.com/news-releases/cogitativo-raises-18-5m-series-b-round-of-financing-300976543.html



About Author


Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More from Pankaj


Post Recommendents

Tartaric Acid Market Analysis Report, Regional Outlook, Growth Potential, Research Report, 2024
Author: Rahul Varpe

The report provides a detailed evaluation of the global tartaric acid market – this includes the major trends, basic market driving factors, main challenges, enabling technologies, regulatory landscape, standardi...


Fish Protein Hydrolysate Market Share, Size, Growth, Trends & Forecast 2026
Author: Rahul Sankrityayan

The rising preference for organic crops, growing environmental awareness and increasing focus on infant nutrition, should drive the fish protein hydrolysate market growth.The market demand for fish protein hydrolysates produced by autolytic hydrol...


Food Supplement Ingredients Market Is Predicted To Witness A Massive Growth Up To 2026
Author: Rahul Sankrityayan

Over the last few years, the benefits of healthy living followed by concerns surrounding animal safety have driven several millennials to pursue a vegetarian or vegan diet. Although the idea of a 100% meat-free diet sounds quite appealing, it can ...