Translucent AI, a financial analytics platform for healthcare organizations, announced today it has raised $7 million in seed funding. The round was led by NEA, Virtue, FPV and Redesign Health.
Founded in 2024, Translucent AI develops software that provides financial analysis and reporting tools specifically for healthcare providers. The platform is designed to automate financial reporting tasks and generate insights from operational data for health systems and medical groups.
The healthcare sector manages approximately $2.5 trillion in annual revenue flow through provider organizations. Many healthcare providers currently face operational losses and report challenges with financial data management and analysis.
"Provider finance teams often rely on manual processes including spreadsheet-based analysis and manual data extraction," said Jack O'Hara, CEO and co-founder of Translucent. "Our platform aims to automate these processes and provide real-time financial insights and reporting capabilities."
Blake Wu, Partner at NEA, commented: "We've evaluated multiple companies in the healthcare AI sector. Translucent's product addresses specific operational challenges faced by healthcare finance teams."
Since its launch in 2024, Translucent AI reports that healthcare organizations managing over $5 billion in combined revenue have implemented its platform.
Jen Boyer, CEO of Springfield Clinic, stated: "Translucent AI has automated previously manual financial analysis processes for our finance and operations teams, providing faster access to financial data and insights."
