• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

3v.org

Venture Capital Matters

  • Pitch a Startup
    • Make a Contribution
  • Market Reports
  • Technologies
    • Technology Events
  • Domain Names for Startups
  • About
  • Contact

Rivet Raises $20.5 Million Series B Led by Catalyst Investors

June 21, 2022 By admin Leave a Comment

Modern healthcare billing platform provides greater transparency for patients and healthcare providers

SALT LAKE CITY and NEW YORK, June 21, 2022 – Rivet, the modern healthcare billing platform, raised $20.5 million in a Series B funding round led by growth equity firm Catalyst Investors with participation from co-investor Ankona Capital and existing investors Menlo Ventures, Pelion Venture Partners and Lux Capital. Tyler Newton, Partner with Catalyst Investors, will join Rivet’s Board of Directors.

Founded in 2018, Rivet’s revenue cycle operating platform is used by healthcare providers across the country to collect what they are owed from payers and bring greater price transparency to patients. Using Rivet, customers have modeled more than one billion payer contracted rates, created over 400,000 patient cost estimates, and detected denials and underpayments in over 100 million claims, reducing the administrative burden felt by providers while increasing their total income as well.

“Medical payer contracts are often very complicated, resulting in reduced transparency from payer to provider to patient. Rivet deciphers contracts for providers so they can offer patients transparent pricing with our Estimates product while also ensuring proper insurance payments with our Underpayments and Denials products,” said Ted Ferrin, CEO and Co-Founder of Rivet. “Rivet shines light on some of the most complex but important data in all of healthcare so that providers, patients, and payers can all be on the same page and have a much more efficient financial experience.”

“Rivet has a keen ability to identify pain points in the market, execute on a product vision, deliver a high-quality product and achieve product-market fit in rapid succession,” said Newton. “The team has a compelling blend of revenue cycle management, technology and sales experience that allows them to identify issues that have plagued the healthcare industry for decades and make great strides towards solving it. We look forward to working with the Rivet team to increase market penetration in the outpatient segment and expand into larger facilities, hospitals and health systems.”

Rivet currently offers three software products: Patient Cost Estimates, Underpayment Detection Workflow and Denials Appeal Management. The company has historically focused exclusively on outpatient practices, offering a level of sophistication and automation typically reserved for larger health systems and inpatient facilities. Capital from the new funding round will be used to build out the Rivet team and continue investing in the platform, allowing the company to continue delivering unparalleled products to a market that is in dire need of innovation.

About Rivet
Rivet, based in Salt Lake City, UT, is dedicated to promoting transparency throughout the healthcare billing process, from payer to provider to patient. Rivet’s unique platform offers tools for Estimates, Underpayments and Denials, giving patients more transparency around the cost of care and providers the ability to hold payers accountable to their contracts. The company currently operates largely in outpatient facilities, but it aims to elevate the healthcare billing experience across all settings, regardless of size or specialty.

About Catalyst Investors
Catalyst Investors is a growth equity firm based in New York. The firm’s mission is to earn superior returns by helping entrepreneurs build great growth companies. Over the past 20 years, Catalyst has invested in rapidly-growing companies across the SaaS, tech enabled services and internet infrastructure sectors, and has established a successful track record of partnering with entrepreneurs and helping companies scale. Recent investments and exits include Pax8, LinkSquares, Ekos, Weave, Clinicient, ChowNow, EDB, and PresenceLearning. For more information, visit www.catalyst.com.

SOURCE Rivet

Filed Under: PR Tagged With: billing, healthcare

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

Immersive Virtual
The U.S.’s blood supply had dipped to levels that the Red Cross has not seen in 10 years
Regulation can disrupt the meat industry
Coal-powered electricity reached an all-time high in 2021
Revenue from NFTs could exceed $130 billion by 2030
Comparing WordPress Performance on MySQL vs SQLite
Europe’s Electricity Mix

Market Research Media

PublicDonmain.ai: You can’t copyright AI-created art
InfluenceMgmt.com (Influence Management): Formal vs Informal Influence
ReleaseWealth.com (Release Wealth): Modern Philanthropy is Technology-Based
MultimodalRetail.com (Multimodal Retail): Should retailers split e-commerce operations from stores?
SyntheticMetadata.com (Synthetic Metadata): Synthetic data will reduce personal customer data collection
ExecutiveTravelMetaverse.com (Executive Travel Metaverse): Corporate travel market is about to become more competitive
Worldwide government IT spending is forecast to total $565.7 billion in 2022, an increase of 5% from 2021

Secondary Sidebar

Technologies

Facing disruption: how companies in every industry can move confidently into the future
IDC FutureScape: Top 10 Predictions for the Future of Intelligence
QFT is the Next NFT
Reservoir Computing: Trends and Future Prospects
The world’s first steel made without burning fossil fuels

Tech Events

COMPUTEX 2021 Virtual is now live through June 30
WeAreDevelopers World Congress, 14-15 June 2022 in Berlin
MIT Society of Women Engineers (SWE) transitioned nearly 70 in-person programming events to an entirely virtual experience
IMS2021 and Microwave Week, June 6-11, 2021, Georgia World Congress Center, Atlanta, GA
MWC is back and taking place on 28 June – 1 July 2021 in Barcelona

Footer

Recent Posts

  • How to achieving gender balance in management teams
  • When you feel like you’re spiraling
  • After Successful Tax Season, Embedded Tax Platform April Raises $30M Series A from Fintech Veterans
  • Vita Mojo Raises US$30 Million to Help Restaurant and Hospitality Chains in Europe Tackle the Digital Future
  • Nautical Commerce Raises $30M to Scale Multi-Vendor Marketplace Technology
  • Token Announces $13 Million Series B Funding Round and Appointment of New CEO to Disrupt the Authentication Market
  • Konnecto Raises $21M to establish a new category in marketing technology
  • Sharebite, the Leading Food Benefits Platform, Announces Closing of $39 Million Series B Round
  • Illumina Invests in £30M Venture Fund to Advance Breakthroughs in Human Health
  • Biotech companies have received significant VC funding in the past three years

Dossier

Zoom to Acquire Five9
Intalio Acquires Nyxeia
Arvind Krishna Elected IBM Chairman
The US has enough people to close the labor gap
QGenda Acquires Shift Admin

Press Media Release

FTX, Tom Brady & Gisele Bündchen Announce Long-Term Partnership
Memorandum of Understanding signed to collaborate on conductive ink development
AI Start-Up TEAL and CorionX Join Hands to Develop a Sustainable Crypto Currency System
Tanjo AI Launches New Enterprise Brain
Pfizer COVID-19 Vaccination Arriving in Tennessee, Next Steps Announced

App Coding

NLP techniques are bridging the gap between text documents
Ondat 2.8 Arrives in GA with Increased Support for Stateful Workloads in Kubernetes
Lumigo expands its serverless observability platform to support any modern cloud application
Is Android Studio an Easy IDE Platform to Launch Applications? GoodFirms Review
monday.com Adds Built-In Monetization Solution to the apps marketplace

API Coding

DataGrail Launches API & Agent to Automate DSR Fulfillment Across All Internal Data Systems, Saving Companies Weeks of Engineering Time
Apiip Expand IP To Location API Services to Verify 1 million+ Requests A Month
Profound Logic Builds IBM i Salesforce API Integration Example without Writing a Single Line of Code
Apiiro Extends Right from Code to Runtime To Help Developers Fix Risks Faster
What is a REST API?

Copyright © 2022 3v.org

Technologies, Market Analysis & Market Research

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT