- Prosper AI has raised $30 million in Series A funding led by Andreessen Horowitz. The company is expanding its AI voice agents, which schedule appointments, verify insurance, and call payers for over 150,000 healthcare providers.
- Administrative waste now costs the US healthcare system over $450 billion each year. Athenahealth and ImagineSoftware, two of the largest EHR platforms, have both chosen Prosper after reviewing other AI vendors.
- This is Prosper’s second funding round in less than a year. The company raised $5 million last September and reports that its revenue has grown about five times since then, bringing total funding to around $36.6 million.
Right now, an AI agent might be on hold with a health insurer, working through the phone system, waiting for a representative, and gathering a patient’s coverage details—all without anyone listening to hold music. This is the product behind Prosper AI‘s new funding, but it’s also becoming a crowded market.
The startup, based in New York and Madrid, has raised $30 million in Series A funding led by Andreessen Horowitz, with support from Base10 Partners, Emergence Capital, Y Combinator, and Company Ventures. This is Prosper’s second round in less than a year.
The company raised $5 million last September and says its revenue has grown about five times since then, bringing total funding to around $36.6 million.
One platform, the whole conversation
Prosper was founded in 2023 by Xavier de Gracia and Josep Mingot, who met while studying at Harvard and MIT in Boston. De Gracia previously managed a 1,000-person call center as VP/GM at Angi and worked as a consultant at Bain & Company. Mingot led the insurance product team at Coverwallet before it was acquired by Aon.
The company has operated with a small team, reportedly about a dozen employees as of last fall. It plans to use the new funding to grow its engineering and customer-facing teams.
Most healthcare AI vendors focus on just one part of the patient journey, such as scheduling or billing. Prosper’s voice agents handle appointments, call insurers to confirm coverage and copays, and manage billing, all from a single platform connected to the practice’s EHR.
“Healthcare providers don’t want separate tools for scheduling, insurance verification, and billing. They want a single platform capable of managing the workflows that determine whether care happens and whether providers ultimately get paid,” de Gracia says.
Providers say Prosper is already outperforming competitors that only handle scheduling.
Prosper’s customers support this claim. Jonathan Banta, CEO of The 44 Group, which represents over 600 physicians, says his group conducted a formal evaluation before choosing Prosper.
“We evaluated seven different vendors through an extensive RFP and live demonstration process and concluded that Prosper AI had the most comprehensive platform. The difference wasn’t simply scheduling — Prosper AI was the only platform capable of handling insurance verification, patient financial responsibility, and the broader workflows required to support the entire patient journey,” he says.
Noah England, chief operating officer at Piedmont Plastic Surgery & Dermatology, says the platform hit scale almost immediately: “Out of the gate, Prosper AI was handling more than 50% of our patient conversations end-to-end, including complex cases involving real-time benefits verification. Many organisations using other AI solutions remain stuck at 20-30% automation because those systems stop at scheduling.”
Two major healthcare IT companies share similar experiences. Athenahealth, which serves over 60 million people through its EHR platform, adopted Prosper after reviewing other AI vendors. ImagineSoftware, a revenue-cycle platform used by more than 100,000 physicians, did the same.
“We reviewed multiple AI platforms, and Prosper AI consistently delivered the strongest performance, now handling thousands of conversations per day across multiple clients on our platform. In repeated side-by-side evaluations, Prosper AI achieved the highest accuracy and completion rates,” says Sam Khashman, ImagineSoftware’s chief executive.
a16z is now investing in both sides of this competition
Infinitus Systems, which started the AI calls your insurer category, has raised over $100 million, with Andreessen Horowitz leading its Series C in 2024. This means a16z is now investing in two startups focused on the same area, in the same industry, at the same time.
Jay Rughani, the a16z partner who led the deal, frames it as a matter of conviction rather than contradiction.
“Prosper AI stood out because of the scope of their ambition: they want to eliminate every administrative friction point between a patient and the care they need,” he says. “What convinced us was the pattern we kept hearing from customers — providers would deploy Prosper AI for scheduling, then quickly ask them to take on insurance verification, then billing, and so on. That pull-through only happens when your technology can consistently guide patients through the care journey end-to-end,” he says.
Adeyemi Ajao, co-founder of Base10 Partners, echoes the framing from the new-money side.
“Prosper AI is leveraging agentic AI to transform the way provider groups and hospitals engage with patients, driving not only savings, but increased revenue and better patient experience.” Ajao’s own background adds an odd symmetry to Prosper’s Madrid dateline — he grew up in Spain and co-founded Tuenti, once known as “the Spanish Facebook,” before it sold to Telefónica,” he adds.
There is plenty of capital in this space. Qventus, which focuses on hospital operations like discharge planning and OR scheduling, raised $105 million at a valuation of over $400 million last year. Commure, which bought patient-engagement company Memora Health, was valued at $7 billion in May.
The real test starts now
Prosper says it now manages over $1.3 billion in patient care across its network, wins 80% of the competitive evaluations it enters, and recently partnered with revenue-cycle outsourcer Firstsource. The company has not shared its current valuation.
TThe market Prosper is targeting is significant. Global healthcare revenue cycle management was valued at about $136 billion in 2023 and is expected to reach $453 billion by 2034, according to Towards Healthcare. The bigger question is how much of that Prosper can keep once hospital systems and EHR giants stop evaluating AI vendors and start questioning why they need to pay for one.
With a16z now investing in both sides of this key competition, the next year will reveal whether AI that calls your insurer becomes a lasting platform or just a feature that everyone eventually offers.
