Plenful, a California-based health tech startup providing an AI Workflow automation platform, has raised $17 million in Series A funding to simplify pharmacy and healthcare operations.
According to the company’s announcement, the funding round, led by TQ Ventures, included participation from Bessemer Venture Partners, Susa Ventures, Mitchell Rales, and existing investors. To date, the company has raised $25 million.
The startup provides highly customizable AI-based software designed to streamline and automate regular administrative operations, all in one platform.
The platform is available for use in specialty pharmacies, health system pharmacies, compounding pharmacies, long-term care pharmacies, and specialty providers, among others. It can reduce manual work by up to 97%, saving millions in labor costs.
Leveraging the power of AI and Machine Learning, the Plenful automation platform addresses key problems in pharmacy and healthcare by offering multiple core use cases, including Financial Reporting, 340B Auditing, and Missed Opportunity Identification.
The platform can also help pharmacies optimize Contracted Rates and Inventory Optimization and offer Intelligent Document Data Entry Automation.
Plenful’s product is used by a diverse range of healthcare teams, including Renown Health, Tampa General Hospital, Blue Cross Blue Shield, Salinas Valley Health, and many other teams.
With the new capital infusion, Plenful is looking to build a robust, customer-need-focused infrastructure and automation set, and expand the use of machine learning to simplify pharmacy operations.
